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A LACK of new supply and increased demand amid a more upbeat business climate boosted prime office rents in the first quarter, said property consultancy Cushman & Wakefield yesterday.
The average grade A overall rent hit $9.90 per square foot (psf) per month - up 5.5 per cent over the previous quarter and the fourth straight quarter of increases.
It was also up 10.1 per cent on the same period a year ago.
[SINGAPORE] Despite rents in Singapore's central business district (CBD) surging 19.29 per cent last year, bucking the trend of largely flat rental growth across Asia, office space remains considerably more affordable compared to other major financial centres.
At 803 euros (S$1,389) per square metre (psm) per year, the Republic's occupancy cost was sharply lower than London's West End (2,122 euros); Hong Kong's Central district (1,432 euros); Tokyo's CBD (1,003 euros); and New York's Madison and 5th Avenue (993 euros).
Singapore ( AsiaNews / Agencies ) – After being surpassed by Shanghai, since 2010 the number one container port in the world , Singapore has decided to double the capacity of its commercial hub for maritime trade and revitalize its economy .
This is what the city-state’s Prime Minister Lee Hsien Loong has confirmed, thanks to an investment of eight billion dollars to ensure – as expected – an annual growth of 5%. In fiscal year of 2013, the Executive has allocated the first seven million, which will cover the expense for the removal of the terminal with the aim of freeing a thousand hectares ( in Tuas , in the south -west ) for the development vehicles and infrastructure.
Singapore Jurong port to top world's ports in solar energy generation