Asia-Pac office market 'cushioned against rate rise'

Singapore

GREATER diversification of tenant mix, positive economic fundamentals and continued business expansion are seen propping up the office sector in Asia Pacific, offering a buffer from the prospect of rising interest rates.

And among the region's core mature markets, rent upside is seen in Tokyo, Singapore and Jakarta, said Sanjay Verma, Hong Kong-based chief executive officer for Asia Pacific at Cushman & Wakefield. "The overall Asia Pacific market has been fairly flattish this year and for the next half of the year, we may start to see some uptick," he told The Business Times in a recent interview.