Premium grade office rents surge 6.1% in Q3: Colliers
The quarter-on-quarter increase was the highest in three years, and comes amid a continued shortage of office space in the central business district, the real estate services firm says.
SINGAPORE: Premium grade office rents in the Raffles Place/New Downtown area surged 6.1 per cent in the third quarter to S$11.67 psf per month amid a continued shortage of office space in the central business district, real estate services firm Colliers International said on Monday (Oct 13).
The 6.1 per cent quarter-on-quarter increase was the highest in three years, and was nearly double the 3.1 percent pace recorded in the second quarter.
Grade A office space in the Raffles Place/New Downtown area rose 2.9 per cent quarter on quarter to S$10.25 psf in July-September, while Grade A rents in the Shenton Way and Tanjong Pagar area gained 2.9 per cent to S$8.83 psf.
Colliers defines premium-grade offices as those found in relatively new buildings with large floor plates of more than 20,000sqft as well as intelligent features. Examples of such buildings include Marina Bay Financial Centre and Asia Square.
Grade A offices, on the other hand, refer to those in good quality buildings in strategic locations that are well served by amenities and transport nodes, for example 6 Battery Road and Republic Plaza Tower 1.
Colliers said the rise in office rents comes amid a supply squeeze, with the average occupancy rates of most micro-markets having breached the technical full occupancy rate of 95 per cent.
For instance, as of September 2014, the average occupancy rate for Grade A space in Raffles Place/New Downtown and Shenton Way/Tanjong Pagar stood at 97.2 per cent and 99.4 per cent, respectively.
- CNA/cy
- wong chee tat :)
Wednesday, October 15, 2014
SingPost to develop eCommerce Logistics Hub in Tampines
SingPost to develop eCommerce Logistics Hub in Tampines
SingPost will invest about S$182 million into the project, which will help to facilitate its expanding e-commerce logistics business.
SINGAPORE: To cater to its expanding e-commerce logistics business and the growing market, Singapore Post (SingPost) is investing about S$182 million to develop a three-storey eCommerce Logistics Hub in Tampines LogisPark.
The company said in a statement on Tuesday (Oct 14) that the e-commerce logistics market in Asia Pacific is estimated to grow to more than US$175.24 billion by 2016, and the new logistics hub will have a fully-automated parcel sorting facility and two modern warehousing floors.
It will also include an adjoining eight-storey office block to house SingPost's local and regional logistics operations - Quantium Solutions, Singapore Parcel and Lock+Store. SingPost says the development will be built on a 3.25-hectare plot of land leased from JTC Corporation for 30 years.
Dr Wolfgang Baier, Group Chief Executive Officer of SingPost said: "I expect our new facility will, in turn, further boost Singapore's aspiration to be the region's e-commerce hub. It will also enable SingPost to offer very cost-efficient fully integrated e-fulfilment solutions to our customers in a scalable manner."
Construction of the 553,000 square feet eCommerce Logistics Hub is expected to be completed by end January 2016 and fully operational in the second half of 2016.
- CNA/xy
- wong chee tat :)
SingPost will invest about S$182 million into the project, which will help to facilitate its expanding e-commerce logistics business.
SINGAPORE: To cater to its expanding e-commerce logistics business and the growing market, Singapore Post (SingPost) is investing about S$182 million to develop a three-storey eCommerce Logistics Hub in Tampines LogisPark.
The company said in a statement on Tuesday (Oct 14) that the e-commerce logistics market in Asia Pacific is estimated to grow to more than US$175.24 billion by 2016, and the new logistics hub will have a fully-automated parcel sorting facility and two modern warehousing floors.
It will also include an adjoining eight-storey office block to house SingPost's local and regional logistics operations - Quantium Solutions, Singapore Parcel and Lock+Store. SingPost says the development will be built on a 3.25-hectare plot of land leased from JTC Corporation for 30 years.
Dr Wolfgang Baier, Group Chief Executive Officer of SingPost said: "I expect our new facility will, in turn, further boost Singapore's aspiration to be the region's e-commerce hub. It will also enable SingPost to offer very cost-efficient fully integrated e-fulfilment solutions to our customers in a scalable manner."
Construction of the 553,000 square feet eCommerce Logistics Hub is expected to be completed by end January 2016 and fully operational in the second half of 2016.
- CNA/xy
- wong chee tat :)
Singapore private home sales up sharply in September
Singapore private home sales up sharply in September
Developers sold 648 new private homes last month, a 48.3 per cent increase from the 437 units sold in August, according to the Urban Redevelopment Authority.
SINGAPORE: Buyers returned to the private housing market in September, with sales of homes surging 48.3 per cent from the previous month.
Excluding executive condominiums (ECs), developers sold 648 new units last month, up from the 437 units sold in August, data from the Urban Redevelopment Authority showed on Wednesday (Oct 15). Including Executive Condominiums (ECs), 707 new units were sold in September.
The strong sales came as developers launched more units for sale, with 514 units launched last month, up from 399 units launched in August.
- CNA/cy
- wong chee tat :)
Developers sold 648 new private homes last month, a 48.3 per cent increase from the 437 units sold in August, according to the Urban Redevelopment Authority.
SINGAPORE: Buyers returned to the private housing market in September, with sales of homes surging 48.3 per cent from the previous month.
Excluding executive condominiums (ECs), developers sold 648 new units last month, up from the 437 units sold in August, data from the Urban Redevelopment Authority showed on Wednesday (Oct 15). Including Executive Condominiums (ECs), 707 new units were sold in September.
The strong sales came as developers launched more units for sale, with 514 units launched last month, up from 399 units launched in August.
- CNA/cy
- wong chee tat :)
Java™ SE Development Kit 7, Update 71 (JDK 7u71) Release Notes
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- wong chee tat :)
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