Commercial & Industrial

A 775,000 sq ft withdrawal of stock also helps push islandwide vacancy rate down to 10%

Islandwide vacancy falls to 10% as at end-Q3 from 11% as at end-Q2 on 72,000 sq m shrinkage in office stock

Around 300,000 sq m of new space can be completed in Q4, says JTC

An asset enhancement initiative is slated to start in Q2 2027 and be completed by end-2029

The price tag translates to a land rate of S$1,124 psf ppr on land area of 28,700 sq ft

Occupied office space is projected to expand 13% through to 2030 under a moderate AI-displacement scenario

No formal bids have been made; EOIs have been submitted and discussions are ongoing

Operator is discussing potential conversions of Fraser Suites properties to new Fraser Suites Reserve brand

The sheer asset size may mean the fund could require more time to raise equity