Kevin Tan
08-06-16, 10:56
http://www.theedgeproperty.com.sg/content/office-sector-still-tenant%E2%80%99s-market
Office sector: Still a tenant’s market
By Douglas Dunkerley / Corporate Locations | June 8, 2016 10:00 AM MYT
Tags: officetenant's market
The Singapore office market has continued to soften over the last six months, with demand remaining fragile. Ironically, it is the larger deals that are coming to the fore. As expected, the new schemes coming online are attracting the most interest from the larger space users.
The Bank of Tokyo-Mitsubishi UFJ is in advanced negotiations to relocate from Republic Plaza to Marina One and will be taking up 140,000 sq ft. Also lined up to go to Marina One is Daiwa Capital Markets from OUE Downtown 2.
Guoco Tower is one of the busiest new developments at the moment because it is expected to get its Temporary Occupation Permit in early July. New tenants here include Japanese transportation group “K” Line (20,000 sq ft), food company Bunge Agribusiness, AccorHotels Group (21,000 sq ft) and HR consulting firm Manpower. AXA Group is also rumoured to be leasing at least 30,000 sq ft. The Guoco Group itself will be occupying two whole floors.
http://www.theedgeproperty.com.sg/content/office-sector-still-tenant%E2%80%99s-market
Office sector: Still a tenant’s market
By Douglas Dunkerley / Corporate Locations | June 8, 2016 10:00 AM MYT
Tags: officetenant's market
The Singapore office market has continued to soften over the last six months, with demand remaining fragile. Ironically, it is the larger deals that are coming to the fore. As expected, the new schemes coming online are attracting the most interest from the larger space users.
The Bank of Tokyo-Mitsubishi UFJ is in advanced negotiations to relocate from Republic Plaza to Marina One and will be taking up 140,000 sq ft. Also lined up to go to Marina One is Daiwa Capital Markets from OUE Downtown 2.
Guoco Tower is one of the busiest new developments at the moment because it is expected to get its Temporary Occupation Permit in early July. New tenants here include Japanese transportation group “K” Line (20,000 sq ft), food company Bunge Agribusiness, AccorHotels Group (21,000 sq ft) and HR consulting firm Manpower. AXA Group is also rumoured to be leasing at least 30,000 sq ft. The Guoco Group itself will be occupying two whole floors.
http://www.theedgeproperty.com.sg/content/office-sector-still-tenant%E2%80%99s-market