THE growth in Central Business District (CBD) Grade A office rents in the last quarter of 2021 is likely to continue in 2022 and build traction for Singapore’s office market, said investment management firm Colliers on Tuesday (Feb 15). In its Office Market Outlook 2022 report, the firm said CBD Grade A rents will grow…

FIVE adjoining shophouses at 1, 3, 5, 7 and 9 Club Street, within the Telok Ayer conservation area in the Central Business District, have been offered for sale with a guide price of S$28.5 million, exclusive marketing agent Savills Singapore said. The site comprises 2 land titles: 1, 3 and 5 Club Street, which are…

INTEGRATED development CapitaSpring has received its temporary occupation permit (TOP) in end-2021, marking the end of its construction, the manager of CapitaLand Integrated Commercial Trust (CICT) said on Wednesday (Feb 9) in a regulatory update. The 51-storey integrated development at 88 Market Street has 673,000 square feet (sq ft) of workspace and retail net lettable…

LUXURY offices, smart buildings and mixed-use developments are among the global real estate trends identified by property investment firm Hines for 2022. After almost 2 years of working from home, some companies are itching to build stronger teams and collaborative cultures among their employees through hybrid or on-site work arrangements, said Laura Hines-Pierce, Hines’ newly…

SINGAPORE’S commercial real estate investment volume saw a turnaround in 2021 to US$9 billion in total for the year, a triple-digit increase from 2020’s muted activity, according to Real Capital Analytics’ (RCA) Asia Pacific Capital Trends report. Market recovery was driven by overseas capital sources, who splashed out on offices in contrast with the rest of the…

GRADE A office rents in Singapore’s Central Business District (CBD) continued their steady upward momentum for the fifth straight quarter in Q2 2022 to recover to 0.6 per cent below the pre-pandemic peak of S$10.81 per square foot (psf) per month in Q4 2019, according to JLL Singapore. Based on figures provided by the firm…

THE Singapore commercial property market continues to buzz. One of the latest deals is that for Bugis Junction Towers, where Sun Venture Group is said to be doing exclusive due diligence with a view to buy the 15-storey office block for between S$675 million and S$680 million. Over in Peck Seah Street, Kajima is paying…

THE Singapore office investment sales market continues to gather momentum, notwithstanding headwinds from geopolitical uncertainty and rising interest rates. Investor interest seems to be extending beyond the central business district (CBD). The Business Times (BT) understands that US-based real estate investment manager AEW is buying Westgate Tower – a 20-storey office block near Jurong East MRT…

US-BASED real estate investment manager AEW is selling 55 Market Street to an indirect wholly-owned Singapore-based real estate unit of Tokyo-based Kajima Corporation, for nearly S$287 million, The Business Times understands. The price for the 16-storey, 999-year leasehold building in the Raffles Place financial district works out to about S$3,450 per square foot on the…