Singapore's city-fringe business park rents to rise as firms cut costs
With portions of employees working from home, the need for CBD office space has declined
Singapore
RENTS for business parks in Singapore's city fringe are projected to rise as more firms seek out business parks with Grade-A office specifications in a bid to cut their real-estate costs.
In the third quarter of 2020, rents of business parks in the city fringe stood at S$5.91 per square foot per month (psf/month), up 0.2 per cent quarter on quarter and 2.4 per cent higher from a year ago, data from real estate services firm Cushman & Wakefield showed.
Christine Li, the company's head of research for Singapore and South-east Asia, said another factor driving the move to business parks is the trend of companies with a large proportion of their employees working from home, thus lowering the need for central …
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