Business park market registers positive net absorption of 0.57 mil sq. ft.

Vacancy rates also saw a double-digit q-o-q decline.

The business park market saw a positive net absorption of 0.57 mil square feet, according to a report released by CBRE.

Vacancy rate, meanwhile, saw a q-o-q decline to 12.2%, from the previously recorded 13.1%.

This performance was due to the fulfillment of A-REIT’s build-to-suit facility for Grab Holdings Inc. along Media Close.

Due to firms adopting the hybrid working model, consolidation and downsizing efforts were in effect. Even with this trend, however, the technology sector, as well as select firms from the pharmaceutical, ecommerce and gaming industries actively sought space in the market.

The City Fringe submarket experienced a strong demand, leading to a rise in rents by 0.9% q-o-q to $5.85 psf/month. The report points to higher rental expectations due to the limited options in the area.

On the other hand, the Rest of Island submarket experienced less demand, and unlike City Fringe, rents for this submarket hovered at $3.65 psf/month.

Follow the link for more news on

CBRE

business park market

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. 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