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Dyson is taking over Singapore’s colonial-era St James Power Station
Office leasing in Singapore swung into positive territory during the initial quarter of 2021 for the first time since the year-earlier period, nudged by the addition of tech firm Dyson’s lease commitment at a converted colonial-era power plant, according to CBRE.
Supported by tight vacancy in the core CBD market, the city-state also snapped a string of four straight quarters of rental declines as Grade A leasing rates held steady at S$10.40 ($7.73) per square foot per month in the first three months of the year, the global property consultancy said in a release.
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China’s Bytedance is setting up a regional HQ in Singapore’s One Raffles Quay
Technology occupiers led by Chinese groups are poised to transform Grade A office markets in Asia Pacific, accounting for at least a fifth of regional leasing demand from 2020 to 2025, according to research from Colliers International.
The need for space for Asia’s growing tech firms is expected to exceed 5.5 million square metres (59.2 million square feet) over the six year period, or more than 20 percent of the regional total of 26.4 million square metres.
Demand from China’s tech titans alone will make up 4 million square metres or 15 percent of the region’s total, Colliers said in its Asia Pacific Property Markets: Themes for 2021 report released on Monday.
The Straits Times
Amount is more than double last year s, will help vulnerable groups from over 80 agencies
Minister for Social and Family Development Masagos Zulkifli and National Development Minister Desmond Lee join ComChest representatives and local celebrities for the concert s theme song.PHOTO: COMCHEST
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The Straits Times
Community Chest s online charity concert raises over $2.7 million for the vulnerable
Minister for Social and Family Development Masagos Zulkifli and National Development Minister Desmond Lee join ComChest representatives and local celebrities for the concert s theme song.PHOTO: COMCHEST
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CapitaSpring will add 650,000 square feet of office space to the Singapore market upon completion in 2021
Despite a downturn in leasing this year due to the COVID-19 pandemic, property consultancy CBRE says office rents in Singapore are likely to rise in the second half of 2021, driven by a limited supply of new Grade A space and strong demand from Chinese tech firms and non-bank financial service providers.
Five new projects are set for completion next year, adding 1.23 million square feet (114,271 square metres) to the overall office supply, CBRE said in a release. The five projects include only one Grade A office development, CapitaSpring, which will add 650,000 square feet of office stock to the core CBD market.