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Net demand in Downtown Core up 30,000 sq m in Q2

URA's office rental index for Central Region eases 1.1%, slower than the 3.4% in Q1

Kalpana Rashiwala

Published Fri, Jul 28, 2017 · 09:50 PM

Singapore

NET demand for office space in the Downtown Core planning area - where the bulk of Singapore's CBD offices are located - rose by 30,000 square metres in the second quarter.

This is the strongest showing - as reflected in the change of occupied space - for the area since the 53,000 sq m of net lettable area (NLA) recorded in Q3 2012, going by JLL's analysis of official figures released on Friday by the Urban Redevelopment Authority (URA).

Tay Huey Ying, JLL head of research and consultancy for Singapore, said: "An increasing number of corporations are now observed to be more prepared to reconsider their real estate plans and this has lent support to leasing activity in Q2…

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