Grade A office supply surge set to peak in 2028

Low completions in 2026 and 2027 give way to a higher delivery cycle in 2028, Cushman & Wakefield data shows.

Singapore’s Grade A office supply pipeline is projected to rise sharply in 2028, with completions to be at their highest level over the period shown, according to Cushman & Wakefield.

The increase reflects scheduled completions from developments already in the pipeline, following a period of limited new launches and construction activity in preceding years, according to the report.

Annual supply is expected to average around 400,000 thousand square feet (sq ft) in 2026 and 2027, before increasing significantly to above 2 million sq ft in 2028 and easing in the following year to near the ten-year historic average.

In 2026, only one major Grade A office project is scheduled for delivery in the CBD, following no completions in Q1 2026, according to the report.

CBD Grade A vacancy stood at 4.1% in  the first quarter of 2026, down from 4.4% in the fourth quarter of 2025.

The report also noted that prime rents increased 1.4% quarter on quarter to $11.36 per square foot per month.