[SINGAPORE] Singapore's office rents are set to rise as much as 15 per cent this year on increased demand and a dearth of new developments, said Lynette Leong, chief executive officer of CapitaCommercial Trust Management Ltd.
Global companies including Cargill Inc, the biggest US agricultural firm, and Bordier & Cie, a Swiss private bank's local subsidiary, are driving the recovery as they set up offices in the central business district, said Ms Leong, whose company manages the biggest office trust in Asia outside Japan.