Chart of the Day: 2 million sqft of Grade A CBD supply set for 2022

This takes up nearly half of the total supply pipeline in the CBD.

This chart from Cushman & Wakefield reveals that the upcoming Grade A CBD office supply is largely set to be finished by 2022, with about 2 million sqft scheduled for the year. The upcoming supply for 2020 is at about 600,000 sqft.

The total supply pipeline in the core business district (CBD) is at 4.36 million sqft.

The suburban area captures the biggest supply that is currently planned and under construction, at 1.62 million sqft. Within CBD, Shenton Way / Tanjong Pagar holds the most upcoming supply at 1.32 million sqft, followed by Marina Bay at 1.26 million sqft.

Meanwhile, Grade A CBD rents are tipped to moderate by about 10% in 2020 with a further decline in 2021, as the pandemic is expected to lead to recession globally and locally.