Lower demand with remote working

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[…]

Perennial clarifies deal, saying outstanding loan is $365m

Half the outstanding shareholders’ loan will be transferred to Alibaba Singapore Perennial Real Estate disclosed on Wednesday night, following queries from the Singapore Exchange (SGX), that the shareholders’ loan, half of which will be transferred to Alibaba Singapore, has $364.7 million outstanding. The subsidiary of Chinese e-commerce giant Alibaba Group is looking to acquire 50[…]

Tight supply keeps office and prime retail rental steady

Market confidence might have been dented due to weaker economic growth and the escalation of the trade war but landlords have been able to hold rents steady due to tight vacancies and limited upcoming supply. In fact, Grade A Central Business District (CBD) rent increased marginally by 0.4 per cent to $10.65 per square foot[…]

WeWork leasing 21-storey tower in CBD

CapitaLand Commercial Trust (CCT) will lease out 21 Collyer Quay – a 21-storey building in Singapore’s financial district currently occupied by HSBC – to United States co-working giant WeWork. The move marks WeWork’s expansion in Asia. The tower will be its biggest property in Singapore and has a net lettable area of about 200,000 square[…]