Office landlords dangle pickleball and retail pop-ups, as competition for tenants intensifies

Office landlords dangle pickleball and retail pop-ups, as competition for tenants intensifies


TIGHT SUPPLY SUPPORTING RENT GROWTH

Singapore’s office market remains supported by limited new supply and steady demand from sectors such as financial services.

Mr McKellar noted that vacancy rates in prime office buildings have fallen from 5.5 per cent at the start of last year to 3.3 per cent currently.

Demand is also coming from artificial intelligence firms that initially incubated in co-working spaces before moving into conventional offices as they expand.




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