Low Rents Draw Big Names To Marina Bay Office Spaces

Big names are taking advantage of currrent low rents amid a wave of new office completions to move into newer buildings in the Marina Bay area which offer greater space efficiency due to larger floor plates.

However, net office demand is not expected to increase much in the absence of any “category killer” to drive office demand, as JLL’s head of markets Chris Archibold puts it.

“The number of occupiers out in the market now indicates rents for big-space occupiers in brand-new Grade A office buildings may have reached a support level”, said Mr Tay of CBRE.