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 : K71U 0%’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 : J69U 0% (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.