26 Apr '16, 4pm

What are the opportunities in the office market?, Singapore Property News, Singapore Property Guides & Articles

What are the opportunities in the office market?, Singapore Property News, Singapore Property Guides & Articles

LAST year, the benign economy weighed on office leasing demand. Much of the leasing activity was by existing tenant movements due to upgrading or rent advantage rather than expansionary purposes. The lack of demand from financial institutions remained the principal headwind for office demand in the Central Business District (CBD). While the energy and commodity sectors continued to be cautious, the sectors that have contributed to occupier movements included e-commerce firms, some Asian financial institutions, insurance and pharmaceutical firms. Given that the weak economic outlook is projected to continue, office leasing demand is expected to be relatively muted over the next 12 months. While there is greater caution in the occupier community which may impact expansion and leasing volume, the other main concern lies in the wave of new development completions scheduled fro...

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

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