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Singapore’s office spaces remain resilient amidst global economic uncertainties: S&P
Prime offices benefit from the flight-to-quality trend.
Singapore’s quality office and retail spaces remain resilient amidst global economic instabilities, according to the annual report on Southeast Asia’s major property players by S&P Global Ratings.
The report highlighted that Singapore’s prime offices will benefit from the flight-to-quality trend. Over the year, the limited supply of office spaces supported modest rent growth and low vacancy rates.
The report also noted that occupiers of office spaces remain cost-conscious despite factors that cause economic instabilities around the world.
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