BUILDING & ENGINEERING | Staff Reporter, Singapore

Chart of the Day: Marina Bay offices to take in 2.01 million sqft space until 2021

Supply is expected to surge only by 2021 due to the absence of building completions.

This chart from Knight Frank Singapore shows that Grade A+ offices in the Marina Bay/Raffles Place are expecting a supply of 2.01 million sqft from 2018 to 2021.

KF said that with the lack of building completions, new office space supply will wane until 2020, and prime grade office rents are expected to rise in the near term.

Grade A offices in the Shenton Way/Robinson Road/Tanjong Pagar precinct are expected to take in 1.93 million sqft.

Meanwhile, Grade A offices in the Suntec/Marina/City Hall & Central and Orchard precincts are expected to have 270,400 sqft and 442,800 sqft, respectively. The new supply is expected to come in by 2019.

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