Barclays, Credit Suisse shrink Singapore space

About 500,000 sqf of leased space already vacated since 2011.

Barclays Plc and Credit Suisse Group AG are among banks that have given up Singapore office space as lenders pare ambitions for growth in the Asian financial hub, Bloomberg said in its report.

Global banks vacated about 500,000 square feet of leased space in the city since 2011, enough to seat 3,800 employees, according to estimates by Jones Lang LaSalle Property Consultants Pte. About 80 percent of that is in the central business district, data tracked by the real estate broker show.

Read full report here.

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