SINGAPORE – An entire floor in Suntec City Tower 2 is up for sale at an indicative guide price of $36 million. The price for the 9,989 sq ft office space comprising four strata titles works out to $3,600 per sq ft (psf), said its marketing agency, Knight Frank, on Tuesday (July 12). The space, which[…]
SINGAPORE (BLOOMBERG) – Amazon.com has signed a lease for about 369,000 sq ft at the new IOI Central Boulevard Towers in Singapore, the Business Times reported, without citing where it got the information from. The tech giant’s lease comprises both office floors of 70,000 sq ft each in the development’s podium, and all nine office[…]
SINGAPORE (THE BUSINESS TIMES) – The local property investment market recorded some $8.2 billion worth of transactions in the second quarter of 2022, bringing the half year’s total to $20.2 billion – an 88.7 per cent improvement or almost double the $10.7 billion in transactions registered for the same period last year. According to figures[…]
SINGAPORE (THE BUSINESS TIMES) – Grade A office rents in Singapore’s Central Business District (CBD) continued their steady upward climb for the fifth straight quarter to recover to 0.6 per cent below the pre-pandemic peak of $10.81 per square foot (psf) per month in the fourth quarter of 2019, according to JLL Singapore. Based on[…]
SINGAPORE – A Singapore permanent resident bought an entire floor in Suntec City Tower 2 for $38.8 million, property agency Huttons Group said on Monday (June 13). The price for the 11,743.52 sq ft strata-titled office space, which is between the 26th and 30th storeys, works out to about $3,300 per sq ft. Based on[…]
CapitaSpring to have 29 floors of office space; tenants include JP Morgan CapitaSpring, a 51-storey skyscraper in the Central Business District (CBD), is scheduled to be completed by the second half of this year. Providing an update on the building’s progress yesterday, its owners – CapitaLand Limited, CapitaLand Integrated Commercial Trust (CICT) and Mitsubishi Estate[…]
Random workplace chatter is still highly valued for sparking innovation, even though remote work is here to stay post-pandemic. In the first edition of the relaunched Tech section every Tuesday, The Straits Times speaks to tech giants and experts to get their views. SINGAPORE – Casual encounters in the office cafe, lounge or hallway[…]
Office rents in Singapore saw their steepest decline in 11 years in the third quarter, official data showed yesterday, as the Covid-19 pandemic hit leasing demand for commercial real estate in the regional business hub. Rents for office space fell 4.5 per cent on a quarterly basis in July-September, data from the Urban Redevelopment Authority[…]
Leasing activity remained muted during the second quarter as brokers were unable to close deals during the circuit breaker period. The demand for new office space in the near term is likely to remain weak because remote working is continuing to be the default mode of operation, even after the circuit breaker. Also, corporate occupiers[…]
SINGAPORE (THE BUSINESS TIMES) – Mainboard-listed hotel operator and property developer Far East Orchard on Friday (June 26) said it has sold 62 per cent of the 208 office units launched for sale in Woods Square, and recognised $4.3 million in its share of the profit from the development as at March 31. Woods Square[…]
SINGAPORE (THE BUSINESS TIMES) – Oxley Holdings and Oxley Beryl, which owns the former Chevron House, have entered into property sale agreements for the retail and commercial units in the 30 Raffles Place development for a total of some $315 million. The retail strata lots at Levels B2, B1, 1 and 2 will be sold[…]
SINGAPORE – Eligible sub-tenants of government-owned properties managed by the Singapore Land Authority (SLA) will benefit from additional rental waivers. The waivers are going to more than 2,000 commercial tenants and around 100 social sector tenants as part of assistance to pandemic-hit businesses. Master tenants – those who have sub-let state property – must pass[…]
