Office Property

It is negotiating with a fund set up by a real estate asset management firm under Daiwa Securities Group, say sources

The group will need to mind the risks of loading up on borrowings amid possibly rising interest rates

The move builds on its 19.9% share of the 55-storey building

Trust will have a guaranteed monthly income of S$2.23 million from the property for up to five years

Occupied office space is projected to expand 13% through to 2030 under a moderate AI-displacement scenario

Industry players have yet to see widespread artificial intelligence-driven downsizing

Knight Frank says firms want bases near research universities to recruit specialised talent

Falling office values, and rising rents and refurbishment costs mean that some businesses think now is a good time to buy

But market watchers say the moves are isolated and not a structural migration