Singapore offices

Fundamentals matter in Keppel Reit’s proposed purchase of stake in CBD building at S$626 million

A 775,000 sq ft withdrawal of stock also helps push islandwide vacancy rate down to 10%

Islandwide vacancy falls to 10% as at end-Q3 from 11% as at end-Q2 on 72,000 sq m shrinkage in office stock

The sheer asset size may mean the fund could require more time to raise equity

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

Lazada One, 30 Raffles Place, FPL’s half stake in Frasers Tower are among the offerings; strong interest for Income Centre

Islandwide vacancy rate inches up to 11%; this is seen as the result of a time lag in tenants moving into newly completed Shaw Tower

Manager says current asset recycling efforts remain focused on Australia assets and Suntec office strata units

The consultancy will be occupying JustCo’s new co-working space in Orchard in the interim