Marina Bay Grade A+ rents weaken further

Singapore

PREMIUM grade office rentals continued to weaken this quarter amid pressure from upcoming big office project completions and weak demand, resulting in heightened competition for tenants, according to latest figures from Knight Frank.

The property consultancy said the gross effective average monthly rental value for Marina Bay/Raffles Place Grade A+ office space in Singapore eased 3.6 per cent to S$9.88 per square foot during the second quarter of this year from S$10.25 psf in the previous quarter.

This marks a slightly slower pace of de…