Nov
29
Singapore Office Rents to Rebound End-2017, CapitaLand REIT Says
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Office rents to remain ‘a little soft’ in 2017, CEO Says
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Supply from 2018 will amount to quarter of 2016’s new space
Singapore’s office rents will remain “a little soft” in 2017 and may pick up only at the end of the year when the amount of new supply of space shrinks, according to CapitaLand Commercial Trust, one of the city-state’s biggest landlords.
About 2.3 million square feet of space were added this year, driving rents down by 15 percent, said Lynette Leong, chief executive office of the real estate trust’s manager. Less than 500,000 square feet are being planned annually starting in 2018, with no supply in sight from 2020, she said in an interview with Bloomberg Television on Tuesday…
Singapore Office Rents to Rebound End-2017, CapitaLand REIT Says
