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Top News In மையம் கிழக்கு இல் ராஃபிள்ஸ் இடம் Today - Breaking & Trending Today

ARA-Chelsfield Singapore Project Renamed Lazada One

Alibaba's Lazada has renamed its new home on Singapore's Bras Basah Road as Lazada One as it moves into the ARA-Chelsfield project. ....

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Can Singapore's office rents outprice Hong Kong as Alibaba, ByteDance, Tencent set up shop in rival financial hub?

April 06, 2021
The skyline of Singapore s Central Business District.
The Straits Times file
Singapore’s office rents have a long way to go before matching Hong Kong’s, even after half a dozen of mainland China’s largest technology behemoths piled into the city state in recent months to set up their regional hubs, analysts said.
The average monthly rent for Singapore’s grade A office space may drop by 6 per cent this year to $9.01 (US$6.72) per square foot, following the 10 per cent plunge in 2020, as the coronavirus pandemic crimped businesses and forced many to postpone their expansion plans, according to data by Cushman & Wakefield. ....

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Tech Tenants Set to Lease 20% of APAC Offices

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China’s Bytedance is setting up a regional HQ in Singapore’s One Raffles Quay
Technology occupiers led by Chinese groups are poised to transform Grade A office markets in Asia Pacific, accounting for at least a fifth of regional leasing demand from 2020 to 2025, according to research from Colliers International.
The need for space for Asia’s growing tech firms is expected to exceed 5.5 million square metres (59.2 million square feet) over the six year period, or more than 20 percent of the regional total of 26.4 million square metres.
Demand from China’s tech titans alone will make up 4 million square metres or 15 percent of the region’s total, Colliers said in its Asia Pacific Property Markets: Themes for 2021 report released on Monday. ....

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Singapore Office Rents Set to Rise in 2021 Says CBRE

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CapitaSpring will add 650,000 square feet of office space to the Singapore market upon completion in 2021
Despite a downturn in leasing this year due to the COVID-19 pandemic, property consultancy CBRE says office rents in Singapore are likely to rise in the second half of 2021, driven by a limited supply of new Grade A space and strong demand from Chinese tech firms and non-bank financial service providers.
Five new projects are set for completion next year, adding 1.23 million square feet (114,271 square metres) to the overall office supply, CBRE said in a release. The five projects include only one Grade A office development, CapitaSpring, which will add 650,000 square feet of office stock to the core CBD market. ....

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