Frasers Centrepoint Trust offers realistic assessment of office, retail rental trends

DEMAND for prime office spaces in the Central Business District (CBD) has heated up, with Keppel Reit ’s manager revealing in a briefing on Tuesday (Jul 26) that its recent lease signings are in the range of high S$9 to mid S$13 per square foot per month.

Rodney Yeo, the Reit manager’s head of asset management, even mentioned pending lease signings have surpassed S$15 per square foot per month, fostering expectations within the real estate investment trust that the uptrend will continue for the coming quarters.

But Frasers Centrepoint Trust (FCT), which owns 1 office building in Tiong Bahru – the 20-storey Central Plaza – stated that improvements to rent are not seen in city-fringe locations yet.