6 Significant office leasing transactions in 3Q

Topping the list is a tenant at NTUC Prinsep House.

Rental recovery continued this quarter, due to moderate demand and limited supply.

Cushman & Wakefield report that the Average overall Grade A rent appreciated by 2.8% on a quarter-on-quarter basis to S$9.28 per square foot per month (psf/mo).

All the five major submarkets registered a rise in average rent.

Raffles Place had a rental growth of 1.3%.

Rents at Marina Bay edged up, but at a lower speed, partially because of the vacant space of Asia Square Tower 2.

The average rent at Shenton Way expanded quarter-on-quarter by around 6.0%.

A small rise of 1.6% compared to the preceding quarter at City Hall was observed.

The delivery of Asia Square Tower 2 to the market this quarter pushed up Marina Bay’s average vacancy rate to 11.2% from 3.6% recorded a quarter ago.

In the rest of the CBD, vacancies fell. Shenton Way saw a declineof almost one percentage point to 4.0% at the end of the third quarter.

Raffles Place’s vacancy dropped to a level below 5.0%. In the fringe area, Orchard Road posted a low vacancy of 0.1%, the lowest reading among the main submarkets.

City Hall’s vacancy reached a below-0.6% rate.

In terms of recent leases, Amazon took up around 30,000 sf in Capital Square at Raffles Place. ERC, a commercial school, rented more than 46,000 sf of space in NTUC Income Prinsep House at Bras Basah/Beach Road/Bugis.

The complete list of significant leasing transactions are as follows:

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