More office space slated for completion between 2012 and 2015

About 60% of which will be located in the CBD.

According to Savills, island-wide, there is approximately 6.90 million sq ft of office space slated for completion between 2012 and 2015, of which about 59% or 4.04 million sq ft will be located in the CBD, mainly from Marina Bay Financial Centre Tower 3, Asia Square Tower 2, CapitaGreen and South Beach. According to Savills estimates, about 1.05 million sq ft or 26% of the four-year new supply in the CBD had been pre-committed as at the end of Q1/2012. Outside the CBD, about 2.86 million sq ft is expected to come on stream over the same period. The majority of the new space is found in the regional centres, such as one-north, Jurong Lake District and Paya Lebar Central. Pre-commitment is low at about 11%, giving rise to oversupply concerns for office buildings located outside the CBD.

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