CBD Grade A supply hit 25.1 million sqft in Q1

There were 8.7 million sqft of supply in Raffles Place/New Downtown.

This chart from Colliers International shows that available Grade A office stock in the CBD totalled 25.1 million sqft in Q1, with an average vacancy rate of 3.9% and average gross effective rents of $9.64 psf pm.

Also read: Decentralised offices represented nearly a quarter of office stock in Q4 2018

The Raffles Place/New Downtown submarket had the largest stock of 8.7 million sqft. Average gross effective rents in the area hit $11.61 psf pm.

Also read: New office supply pipeline to hit 7.6 million sqft by 2023

“Driven by a continuous flight to quality and tight vacancy, rental growth in Raffles Place/New Downtown Premium Grade A buildings could remain high. We believe it would be the fastest growing micro-market in 2021-2023 when the area becomes more developed with adequate amenities,” Colliers said.

Similarly, rental costs in the City Hall and Beach Road/Bugis micro-markets could grow faster than historical average (2.1% and 3.7% CAGR, respectively, for 2013-2018) beyond 2022 amidst the upcoming rejuvenation in the precinct; Guoco Midtown and the redevelopment of Shaw Tower are due to be completed in 2022 and 2023, respectively.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia