Daily Briefing: Prime office rents tumble further in Q1; CDL raises the bar for sustainability

And why Uber, GrabTaxi boost Singapore transport.

Rents of prime office space in Singapore’s Raffles Place and Marina Bay continued to decline in Q1 2016 for the fourth straight quarter, as demand for new spaces slowed as more businesses consolidate their premises to cut costs, the latest Knight Frank research bulletin revealed. Read more here.

In a bid to become one of Singapore’s most eco-friendly property firms, City Developments Limited (CDL) has further raised its performance targets in the field of sustainability. This is ahead of the SGX’s new rules on sustainability reporting that is expected to take effect from the financial year ending 31 December 2017. Read more here.

Singapore has a bit of an issue. As Singaporeans, we are constantly encouraged to reduce the use of private vehicles and to buy fewer cars. Yet the only measures to entice us to stop buying cars are COEs and high taxes. We always slap on more penalties for car ownership. What happen to the “carrot-and-stick” approach? Read more here.

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