The Business Times

Tricia Song

HEAD OF RESEARCH, SOUTHEAST ASIA, CBRE

A general view shows office buildings in the Raffles Place financial business district in Singapore on January 12, 2023. (Photo by Roslan RAHMAN / AFP)
PROPERTY 2023

‘Tech’-ing a reality check – what’s in it for the office market?

Though overall leasing activity is poised to ease, the silver lining to weakening demand lies in the tight future supply

Owners of ageing assets have turned more realistic when it comes to asking prices. Recently successful commercial collective sales, Golden Mile Complex (S$700 million), Tanglin Shopping Centre (S$868 million) and Peace Centre/Peace Mansion (S$650 million) were all relaunched and sold at a lower asking price vis-a-vis prior to the pandemic.

The changing face of collective sales

A collective sale is a sale of properties that are under multiple ownership to a single buyer. For strata-titled properties – such...

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