Grade A office rents in Singapore’s CBD increased in 1Q2023, though this represented a slowdown on the previous quarter, according to JLL research. Gross effective rent for these premium office spaces rose 1.0% q-o-q to an average of $11.30 psf pm, a slight decrease from the 1.2% growth that was seen in 4Q2022.

This slowdown has been attributed to macroeconomic uncertainties that are currently making large space occupiers take a more cautious approach to rental and expansion plans. As such, leasing activity in 1Q2023 was mainly driven by more immediate requirements from small-to-medium-sized space occupiers.

Notable tenants that have secured new office spaces in the CBD include German insurer Munich Re, who have taken two floors at 18 Cross Street, and fine wine merchant Corney & Barrow, who relocated to Hub Synergy Point.

Despite the current market atmosphere, tight supply of Grade A office space has been encouraging some tenants to take advantage of recent and upcoming completions, with Guoco Midtown in the Bugis-Beach Road area, around 80% pre-committed or under advanced negotiation, and IOI Central Boulevard Towers in the Marina Bay financial district 45% pre-committed or under active negotiation.

Occupiers seen in these areas come from a variety of sectors, such as financial services, technology, media, and professional services.

Outside the CBD, Labrador Tower on Pasir Panjang Road has been estimated as 25% pre-committed, one year ahead of its completion in 2024. Prudential, who have signed a 15-year lease expiring in November, albeit with a two-year extension, reportedly took up around 150,000 sq ft of the Green Mark Platinum Super Low Energy building.

Given the still uncertain macroeconomic conditions, JLL’s Head of Research and Consultancy Tay Huey Ying anticipates backfilling of spaces vacated by relocating occupiers to take a little longer and is likely to keep rent growth relatively modest for the rest of the year.

However, JLL Singapore’s Head of Office Leasing and Advisory, Andrew Tangye believes office demand will pick up again post-2024. With rent growth currently taking a pause and several projects coming online before then, he suggests large space users take the opportunity now to secure good Quality new office buildings.…

f you’re looking for a place to live in Singapore, Bukit Timah should definitely be at the top of your list. This beautiful, leafy suburb is one of the most desirable residential areas in Singapore, and for good reason. In this article, we’ll explore why Bukit Timah is the best place to stay, and what makes it such a great place to call home.

Location

Bukit Timah is located in the heart of Singapore, which makes it extremely accessible to other parts of the island. It’s just a 15-minute drive to the Central Business District, and public transport options are plentiful. The Downtown Line MRT serves the area, and there are plenty of bus routes that run through Bukit Timah. The Bukit Timah Expressway (BKE) and Pan Island Expressway (PIE) also provide easy access to other parts of Singapore.

Greenery

Bukit Timah is known for its lush greenery, and it’s one of the few places in Singapore where you can escape the hustle and bustle of city life. The Bukit Timah Nature Reserve is a popular destination for nature lovers, and it’s home to a diverse range of flora and fauna. The reserve also has several hiking trails that are suitable for all fitness levels, making it a great place to exercise and stay active.

Education

Bukit Timah is home to some of the best schools in Singapore, which makes it an ideal place for families with children. Some of the top schools in the area include Hwa Chong Institution, Nanyang Girls’ High School, National Junior College, and Singapore Chinese Girls’ School. There are also plenty of international schools in the area, such as the Swiss School, German European School Singapore, and Canadian International School.

Shopping and Dining

Bukit Timah has plenty of shopping and dining options, making it a great place for those who love to shop and eat. The area is home to several shopping centers, including Bukit Timah Plaza, Bukit Timah Shopping Center, and Beauty World Center. These shopping centers offer a range of amenities, from supermarkets and pharmacies to beauty salons and clothing stores.

There are also plenty of dining options in Bukit Timah, with everything from local hawker fare to upscale restaurants. Some of the top restaurants in the area include the Italian trattoria, La Braceria, the Japanese-inspired gastrobar, 2it&drink, and the charming French restaurant, Saveur.

Community

Bukit Timah has a strong sense of community, which is one of the reasons why it’s such a great place to live. The area is home to several community centers, such as the Bukit Timah Community Club, which offer a range of activities and events for residents. These community centers are a great place to meet new people and make friends, and they’re also a great resource for families with children.

Safety

Bukit Timah is one of the safest residential areas in Singapore. The area is well-lit and has a strong police presence, which helps to deter crime. In addition, the Bukit Timah Neighbourhood Police Centre is located in the area, which means that residents have easy access to the police if they ever need assistance.

Property Prices

Property prices in Bukit Timah are on the higher end of the spectrum, but it’s definitely worth it for the quality of life that the area offers. There are plenty of landed properties in the area, which offer more space and privacy than apartments. There are also plenty of condominiums in the area, which offer a range of amenities such as swimming pools, gyms, and tennis courts.

In conclusion, Bukit Timah is the best place to stay in Singapore for a range of reasons. Its central location, lush greenery, excellent schools, shopping and dining options, strong sense of community, safety, and property prices make it a desirable residential area. It’s a great place to raise a family, stay active, and enjoy the best that Singapore has to offer.

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City Developments Limited (CDL) is a leading real estate developer with an extensive global footprint. Since its inception in 1963, CDL has established itself as a trusted name in property development and investment, with projects spanning residential, commercial, and hospitality sectors. With a commitment to sustainability and innovation, CDL has transformed the urban landscape in many countries, enhancing the lives of countless city dwellers. In this article, we will explore the impact of CDL on urban development, its sustainable initiatives, and its role in shaping the future of the real estate industry.

I. Pioneering Urban Development

CDL has been at the forefront of creating iconic properties that contribute to the development of cities worldwide. Through its extensive experience and commitment to innovation, CDL has managed to remain ahead of the curve in the competitive real estate industry. Some of the key factors that have contributed to CDL’s success in urban development include:

A. Global Reach: CDL operates in over 30 countries across Asia, Europe, the Middle East, and North America. Its diverse portfolio of projects showcases its adaptability to different markets and cultural contexts.

B. Integrated Developments: CDL is known for creating integrated developments that combine residential, commercial, and hospitality components, catering to a wide range of lifestyle needs. These developments create vibrant, self-sufficient communities that enhance the quality of urban living.

C. Landmark Projects: CDL has a history of developing landmark properties that redefine the skyline and serve as symbols of urban progress. Examples include the iconic Republic Plaza in Singapore and the environmentally friendly New Futura residential development.

II. Commitment to Sustainability

Sustainability is at the core of CDL’s business strategy, and the company has made significant strides in integrating environmental, social, and governance (ESG) considerations into its operations. CDL’s sustainable initiatives can be grouped into three main areas:

A. Green Building Design: CDL has pioneered green building design in the real estate industry, with a focus on energy efficiency, water conservation, and the use of sustainable materials. Many of its projects have received green building certifications, such as the Building and Construction Authority (BCA) Green Mark in Singapore and the Leadership in Energy and Environmental Design (LEED) certification in the United States.

B. Climate Change Mitigation: CDL is committed to reducing its carbon footprint and has set ambitious targets for reducing greenhouse gas emissions. It has also invested in renewable energy sources, such as solar power, to reduce its reliance on non-renewable energy.

C. Community Engagement: CDL actively engages with local communities to address social and environmental challenges. Through its corporate social responsibility initiatives, CDL supports various causes, such as education, poverty alleviation, and environmental conservation.

III. Embracing Technological Innovation

In an era of rapid technological advancements, CDL has embraced digital transformation to stay competitive in the real estate industry. Some of the ways CDL has leveraged technology to enhance its operations include:

A. Smart Building Technologies: CDL has incorporated smart building technologies, such as the Internet of Things (IoT), artificial intelligence (AI), and big data analytics, to optimize building performance, enhance energy efficiency, and improve the overall living experience for residents.

B. Virtual and Augmented Reality: CDL has harnessed the power of virtual and augmented reality to create immersive experiences for potential buyers. By offering virtual property tours and interactive 3D models, CDL allows clients to visualize their future homes and make more informed decisions.

C. Digital Customer Experience: CDL has invested in digital platforms and mobile applications to provide seamless customer experiences. These digital tools streamline the property buying process, offering clients access to real-time information, personalized recommendations, and efficient communication with sales representatives.

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Bukit Panjang, a bustling residential town located in the western region of Singapore, offers a perfect blend of modern amenities and natural beauty. In recent years, the area has transformed into a hub of activity, boasting an integrated transport system, shopping malls, and reputable schools. This article explores the benefits of living in Bukit Panjang, highlighting key features such as the Bukit Panjang Integrated Transport Hub, Downtown Line Bukit Panjang MRT Station, Hillion Mall, Bukit Panjang Plaza, and the schools in the vicinity.

Bukit Panjang Integrated Transport Hub: Seamless Connectivity

The Bukit Panjang Integrated Transport Hub is a major selling point for the area, as it enables seamless connectivity to other parts of Singapore. This state-of-the-art facility connects the Downtown Line (DTL) Bukit Panjang MRT Station, Light Rail Transit (LRT), and bus interchange. As a result, residents can enjoy shorter travel times, easier transfers, and enhanced accessibility to various destinations. Additionally, the transport hub is equipped with amenities such as retail outlets, food courts, and public restrooms, making commuting a more enjoyable experience.

Downtown Line Bukit Panjang MRT Station: An Efficient Way to Travel

The Downtown Line Bukit Panjang MRT Station provides residents with a convenient and efficient means of transport. It allows quick access to the Central Business District (CBD), Marina Bay, and other key areas within Singapore, ensuring that daily commuters can reach their destinations with ease. Furthermore, the Downtown Line is well-connected to other MRT lines, such as the Circle Line, North-East Line, and East-West Line, further enhancing the transport network for Bukit Panjang residents.

Hillion Mall: The Ultimate Shopping Experience

Hillion Mall, a contemporary shopping complex integrated with the Bukit Panjang Integrated Transport Hub, offers a diverse range of retail, dining, and entertainment options. It features popular brands, specialty stores, and a supermarket, catering to the various needs of residents. The mall’s array of dining options includes local and international cuisine, ensuring there is something to suit every palate. With its convenient location and ample parking facilities, Hillion Mall is an ideal destination for shopping and leisure activities.

Bukit Panjang Plaza: Convenience at Your Doorstep

Strategically located next to the Bukit Panjang Integrated Transport Hub, Bukit Panjang Plaza is another shopping haven for residents. This family-friendly mall offers a variety of shops, services, and dining options to cater to the daily needs of the community. With anchor tenants such as FairPrice Finest, a library, and a food court, the plaza provides a one-stop destination for shopping, education, and leisure. Its accessibility and comprehensive range of services make it a popular choice for those living in Bukit Panjang.

Schools in Bukit Panjang: Nurturing the Next Generation

Bukit Panjang is home to several highly-regarded schools, making it an attractive destination for families with young children. Notable educational institutions in the area include:

1. Zhenghua Primary School: This primary school has a strong track record in academic and co-curricular excellence, offering a holistic education that nurtures students’ talents and character development.
2. Bukit Panjang Government High School: Recognized for its emphasis on academic and character excellence, this secondary school provides a well-rounded education that prepares students for further studies and future careers.
3. West View Primary School: This school is dedicated to fostering a nurturing environment and providing a high-quality education, focusing on both academic and personal growth.
4. Greenridge Secondary School: With a strong focus on developing students’ leadership skills and creative thinking, this secondary school prepares students for success in the rapidly changing global landscape.
5. Fajar Secondary School: This school is committed to delivering a well-rounded education, nurturing students’ intellectual, physical, social, and emotional development
6. West Spring Primary School: With a nurturing environment and a dedicated team of educators, this primary school offers a comprehensive education that caters to the diverse needs of its students.

In addition to its modern amenities, Bukit Panjang is also known for its lush green spaces and recreational facilities. The Bukit Timah Nature Reserve and Zhenghua Park provide residents with an opportunity to escape the urban hustle and embrace nature. These parks offer various recreational activities, such as hiking, cycling, and bird-watching, promoting a healthy and active lifestyle for residents of all ages.

Residents can also enjoy sports facilities at the Bukit Panjang Community Club, Senja-Cashew Community Club, and the nearby sports complexes, catering to different interests and fitness levels. These recreational options further enhance the quality of life for those living in Bukit Panjang.

Conclusion

Bukit Panjang is a dynamic residential area that offers numerous benefits to its residents, including seamless connectivity through the integrated transport hub and MRT station, shopping and dining options at Hillion Mall and Bukit Panjang Plaza, and access to reputable schools. With its blend of modern conveniences and natural beauty, Bukit Panjang provides an ideal living environment for families, professionals, and individuals alike. If you are considering a move to Singapore’s western region, Bukit Panjang should undoubtedly be on your list of top choices.…

area:

A six-storey shophouse located at 52 Boat Quay in Singapore has been sold for an impressive $37 million. The building covers an area of 1,119 sq ft with an estimated total built-up area of about 6,446 sq ft.

Savills Singapore was the broker in the deal, which saw the seller make a gain of $16 million. The property underwent extensive renovations in 2015, making it a modern and well-equipped space for commercial use.

It is worth noting that the property consists of two floors occupied by an Italian restaurant, an Izakaya bar on the ground floor, and corporate office tenants on the second and fourth floors.

Yap Hui Yee, the executive director of investment sales and capital markets at Savills Singapore, says that the shophouse was in high demand amongst investors due to its location.

“It is extremely rare for a riverfront-facing property to be available for sale in the Boat Quay area, which is firmly established as one of the prime locations in the central business district (CBD),” adds Yap.

Recent transactions of commercial properties in and around 52 Boat Quay have only further today this point.

If you’re interested in renting a shophouse space or an office near Boat Quay, be sure to check out the latest listings in the area.…