Office Market Review
Supply Q4 2022
Looking for office space for lease in Singapore has become all the more challenging because of the continued tightening of supply. Many buildings are technically full and office schemes with a wide choice of units available have become scarce.
In Raffles Place Republic Plaza actually still has some of the widest choices of units, including 3 consecutive mid-rise floors amount to 45,000 sq ft. In Tanjong Pagar, a high-quality scheme like Robinson 77 offers good quality space at a very competitive rate.
In the Orchard area TripleOne Somerset and 51 Cuppage Road have the most space on offer. On the fringe of the CBD Central Plaza, above Tiong Bahru MRT, offers 2 whole floors that were given up when NETS relocated to tech industrial space.
For those looking for medium to large office space in 2023, tenants could also look at which anchor tenants are moving next year and which buildings they could be freeing up space from. Refer to the table below right for a select summary of some of the larger movers.
Apart from looking at a) current available supply and b) future space to be freed up by larger movers, tenants should of course consider the new schemes coming up over the next 3+ years. These are indeed very limited, but the ones outlined below offer high-quality space.
Office schemes with a wide choice of units available have become scarce
Singapore Office Market Review
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PDF includes additional content
- Future Developments – Building Fact Sheets
- The busiest buildings in 2022
