New projects on AXA Tower, PIL Building sites set to yield more office space

Singapore

THE redevelopment of ageing office properties in the central business district (CBD) may not necessarily lead to shrinkage of office space in the district in the mid to long-term, contrary to what some market observers expect.

This is reflected in details from the provisional permissions granted by the Urban Redevelopment Authority (URA) in the third quarter for the redevelopments of AXA Tower in Shenton Way and PIL Building along Cecil Street.