CBRE sees business park space crunch post-2016
No new developments planned; Q2 vacancy rate falls, with higher demand from pharma, tech firms
Singapore
WITH no new developments planned beyond 2016, the business park sector could face tighter vacancy and possibly an undersupply in the future, according to CBRE Research.
Already, islandwide vacancy rates for business parks have fallen to 9.1 per cent in the second quarter of this year, from 10.4 per cent in Q1.
The fall in vacancy rates is partly due to the continued rise in demand, driven by pharmaceutical and tech firms taking up an estimated 306,000 square feet of space in Q2. Prices for business park space hav…
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