22 Nov '12, 4am

More pressure seen on Singapore office rents. Read more:

More pressure seen on Singapore office rents. Read more:

AN estimated 7.2 million square feet of net lettable area (NLA) is expected to come onstream in Singapore's central business district (CBD) over the next five years amid softer economic conditions, exerting further pressure on rental rates. Core projects include the Duo and Marina One, two mega mixed-used developments which will add nearly 2.5 million of prime commercial space when completed in 2017 by a joint venture involving Singapore's Temasek Holdings and Malaysia's Khazanah Nasional. Work on the Duo in Ophir and Marina One in Marina South is scheduled to start next year. In the immediate term, recently completed or soon-to-be completed projects will add to price pressures given the additional supply in a climate of tepid economic growth. Following a slight 0.3 per cent year-on-year GDP expansion in the third quarter on stagnant global demand, full-year growth is proj...

Full article: http://www.stproperty.sg/articles-property/singapore-prop...

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