Occupancy rate of Premium, Grade A office in the CBD dipped to 93.5%

Despite robust rental growth.

According to Colliers International, occupancy rates softened during the quarter, despite the healthy rental growth.

The average occupancy rate of Premium and Grade A office space in the CBD eased 1.7 percentage point to 93.5 per cent in 3Q 2013, down from a 4½-year high of 95.2 per cent in 2Q 2013.

The fall was led by a 6.5-percentage point drop in occupancy rate in the Premium Grade office space in the Raffles Place/New Downtown micro-market to 87 per cent in 3Q 2013. Similarly, the average occupancy rate of Grade A office space in the City Fringe micro-market also fell 3.5 percentage point to a 4-year low of 95.6 per cent during the quarter.

Mr Marcus Loo, Executive Director of Office Services at Colliers International,, “The fall in occupancy rates across several micro-markets was due to an influx of new office completions, rather than an overall contraction in demand; which also explains why rents were not adversely impacted.

The quarter saw the completion of Asia Square Tower 2 in the Raffles Place/New Downtown micromarket which brought onto the market some 733,000 sq ft of space, as well as The Metropolis in the City Fringe micro-market which has some 1 million sq ft of space.”

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