Commercial Property
Demand for flexible workspace rises 37% YoY in 2022
Demand for flexible workspace rises 37% YoY in 2022
The rising demand pushed average rates up by 4%.
Prime Grade office rents in Raffles Place/Marina Bay up 5.5% YoY in 2022
The occupancy rate was also “healthy” at 95.5%.
Frasers Property Group makes key leadership changes in its hospitality businesses
It named a new CEO for Frasers Hospitality amongst others.
Large operators to dominate flexible office market
Workthere said smaller brands will likely be acquired by large operators as competition in the market intensifies.
Mapletree Investments, PAG acquire Goldin Financial Global Centre for US$713 m
The building has a total lettable area of 886,703 sq ft.
Keppel’s Paraiba acquires India-based Pune Kharadi Tower
The corporation acquired it with a paid capital of $162 (INR10,000).
Chart of the Day: Vacancy rate for business parks grew to 16.8% in Q4
This was due to inability of demand to keep up with new completed projects.
Gradual easing of inflation to stabilise S-Reits: analyst
Inflation slowly eased in October and November 2022.
Real estate investment volumes down 55.6% QoQ in Q4 22
Total preliminary real estate investment volumes were at $3.194b.
Rental growth in Core CBD Grade A office market to slow in 2023
CBRE expects rents to only increase by 1.0% YoY.
Investment sales for real estate rebounded in 2022
Transactions totalled at $31.9b with majority from commercial deals.
Suntec Reit’s office portfolio to slow down due to tech sector’s problems: RHB
RHB sees moderating rent growth and an uptick in vacancy.
Five Joo Chiat Road shophouses for sale at $62m
Four of the five ground floor units have restaurant approvals.
Industrial market sales in Q4 22 the lowest since 2020
Total transactions in the final quarter increased to $715.1m.
Tender for freehold redevelopment site in Lorong Ampas opens
The site has a reserve price of $65m.
APAC Realty acquires 22% stake in ERA Vietnam for $4.9m
The acquisition will bring APAC Realty’s total stake in ERA Vietnam to 60%.
3 floors of strata office in 20 Cecil Street on sale for $36m-$37m each
The offices have a combined gross floor area of 33,648 sq ft.
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