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Aon nears 70,000 sq ft lease at SGX Centre

Posted by Property Launch Invest on Thursday, 12 June 2014 in Property News

The buzz in the Singapore office leasing market continues, with a string of deals either sealed or in advanced stages of negotiations.

Vodafone has leased a 30,000 square foot floor at Asia Square Tower 2. Jardine Lloyd Thompson is said to be nearing an agreement to lease 40,000 sq ft at CapitaGreen, which will be completed on the former Market Street Car Park site by year-end.

At SGX Centre 1 along Shenton Way, insurance broker Willis (Singapore) has signed a lease for 20,000 sq ft, while discussions are in an advanced stage for Aon to occupy about 70,000 sq ft, BT understands.

Despite the wave of office leasing activity, industry observers caution landlords against getting carried away in jacking up asking rents, as not all occupiers are on the expansion trail.

String of new malls to fire up shopping scene

Posted by Property Launch Invest on Thursday, 15 May 2014 in Property News

Shoppers can expect more places to splash their cash at with a string of new malls scheduled to open by the end of the year.

An estimated 1.9 million sq ft of additional shop space will be ready by December, comprising about half the 4.1 million sq ft expected to come onstream in the next four years.

Just last year, a total of 1.57 million sq ft of net lettable area opened at major retail malls.

Internet firms drive growth in Grade A space rentals

Posted by Property Launch Invest on Friday, 29 November 2013 in Property News

2014 seen as another healthy year, with steady, sustainable rental growth

GROWING demand for Grade A space from consumer Internet companies is setting a new trend in the central business district (CBD), an area traditionally monopolised by financial institutions. These firms are taking up large spaces in prime Grade A buildings at market rates, even as rents inched up this quarter due to healthy demand and no new supply.

Rents at the top-performing sub-market, Marina Bay, were $11.80 per square foot (psf) per month, after inching up 0.85 per cent from Q3's $11.70 psf per month. Elsewhere in the CBD, Raffles Place saw rents increase 0.67 per cent quarter on quarter to $9 psf per month, while Shenton Way's rents increased 0.99 per cent to $8.20 psf per month.

PROPERTY LAUNCHES & INVESTMENTS

Property Launches & Investments

Aon nears 70,000 sq ft lease at SGX Centre

String of new malls to fire up shopping scene

Internet firms drive growth in Grade A space rentals