Investors searching for better returns are turning away from the private residential market and toward in the commercial and industrial markets, according to a report by The Straits Times. As such, the holding period for strata commercial units has declined to just 60 days for projects launched in 2012, compared to 440 days in 2010
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by Cheryl Tay Nearly half a million sq ft of office space was taken up in Q2 2012, reflecting a robust demand in the sector, according to a recent CBRE report. Office demand has exceeded expectations with stronger leasing performance and a positive net absorption that hit 473,200 sq ft. Some occupiers have availed of the
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by Cheryl Tay CBRE Thailand has successfully secured office space for CIMB Securities as its first Executive Lounge in Thailand at Park Ventures Ecoplex, an enviromentally friendly 34-storey office and hotel development strategically located in Bangkok’s CBD, with a direct link to the Ploenchit BTS station. Kittisak Amornchairojkul, Head of Retail Equities and Kamol Chiraburanan, Executive Vice President
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by Cheryl Tay Demand for flexible workspace remains steady not only in the traditionally popular CBD but also in the suburbs. In fact, Regus will soon open a Regus Centre in Tanjong Pagar and the Marina Bay Financial District (pictured), while Australian-based Servcorp is now in talks to invest in 11,000 sq ft of Grade A real
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by Cheryl Tay Marina Bay could become busier than Raffles Place, as more financial and insurance firms are expected to occupy newly completed buildings within the area. However, Marina Bay’s 2.6 million sq ft of absolute space occupied by financial and insurance companies still pales in comparison to over four million sq ft in Raffles Place, according
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Tower 3 of Marina Bay Financial Centre (MBFC) (pictured) has attracted three more tenants – Fitness First, the Regus Group and mining giant Rio Tinto that will occupy a total space of 75,000 sq ft at the 46-storey tower. According to a report, the Fitness First gym will be housed in a 13,000 sq ft
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Asia Pacific prime office rents showed the sharpest growth last year, with an average increase of eight percent across the region, according to the latest report by Cushman & Wakefield (C&W). Rents in Singapore were up 24 percent year-on-year, backed by growth in business and the overall economy. Beijing recorded the highest rental jump at
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Beijing’s office rents are more costly than New York’s, recording a 75 percent hike last year, attributed to strong demand from China’s rapid economic expansion. The Chinese capital is now the fifth most expensive office location in the world, followed by New York’s midtown Manhattan, according to the latest rankings by Cushman & Wakefield. Hong
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Boosted by higher contribution from Starhill Gallery and Lot 10 in Kuala Lumpur, Singapore-based Starhill Global REIT (SGREIT) has recorded a 10.1 percent jump in net property income to S$180.1 million in the financial year 2011, with full-year revenue also surging 8.7 percent to S$180.1 million. “We are pleased to report a good set of
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Suntec Real Estate Investment Trust (Suntec Reit) posted a record-high distributable income of S$220.7 million in 2011, up 20.9 percent from the previous year’s S$182.5 million. “I am happy to report that we have delivered a record high distribution income for FY 2011, despite the negative rental reversions in our office portfolio during the year,”
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