News by EdgeProp Singapore

The newer office developments in the area are “thoughtfully designed, efficient, well-finished, richly landscaped with urban parks and seamlessly connected to transport infrastructure and surrounding developments,” highlights the report.

To be eligible for the programme, start-ups must be based in Singapore, looking to scale internationally, and founded within the last five years

The Standard, Singapore, will comprise 143 rooms and feature the brand’s signature restaurant, nightlife vibrancy, an infinity pool and pool bar within a botanical courtyard

The 186,000 sq ft site has a gross floor area (GFA) of 651,007 sq ft. The ground floor will have 96,000 sq ft of commercial, F&B and retail space, including a supermarket and childcare facilities. The development will be integrated with the upcoming Lentor MRT station on the Thomson-East Coast Line

The last quarter also saw shophouse transactions rebound by 132% q-o-q to $310 million, after the sector declined 53.6% q-o-q in 1Q2021. Meanwhile, commercial sales rose 24% q-o-q on the back of several major deals.

Although majority of the respondents leaning towards having their staff working from office, workplace safety remained as main concern. Hence, corporations are thinking of adopting hybrid model, to incorporate flexibility in real estate.

“All the buyers of the five units are ultra-high networth foreigners... For these buyers, price was no object. They zoomed in on the best units, which were the largest units on the topmost floors. It’s clear that they want a product that stands out from the crowd, a product that can’t be found elsewhere,” Dominic Lee, head of luxury at PropNex.

Last month, it was reported that Sergey Brin, Google co-founder and the eighth richest person in the world with a net worth of US$88.4 billion, according to Forbes, is setting up a branch of his Bayshore Global Asset Management family office in Singapore. In November, Ray Dalio, billionaire founder of hedge fund Bridgewater Associates, announced that he is also opening a family office in Singapore.

Even before the Covid-19 pandemic hit, YTL had already planned for its headquarters to embody a “future workplace design”.

The property spans 752,015 sq ft, and has a balance lease of 73 years. An application has also been made to the Singapore Land Authority for the lease to be extended to a fresh 99-year lease tenure.