Premium, Grade A office rents keep rising in Q1

[SINGAPORE] Premium and Grade A office rents in Raffles Place and New Downtown continue to climb in the first quarter, according to Colliers International.

The quarter also saw office vacancies shrinking and firms taking a proactive approach to review expansion and relocation options to lock in rents before they rise further.

Asia Square Tower 2, which received Temporary Occupation Permit (TOP) last September, has seen a string of leasing deals lately, resulting in over 200,000 square feet of space being committed in the past six months, said the development's head of leasing, Luke Moffat.