Singapore firms start flocking to offices outside CBD

It's where they get up to 30% in rental savings.

According to Knight Frank, within the CBD, demand for smaller unit sizes of 1,000 to 5,000 sq ft remains strong. Movements in the office sector have been mostly company relocations to newer buildings rather than expansions. 

It also said that outside of the CBD, good quality buildings such as the upcoming The Metropolis and Jem are of high appeal to large occupiers with cost saving objectives. Organisations such as Ministry of National Development, Shell, Procter and Gamble, Neptune Orient Lines and the Singapore Exchange have taken up large spaces in these buildings.

"Large occupiers are moving into good quality buildings outside of the CBD where they can benefit from up to 30% in rental savings," said Louise Toovey, Senior Manager, Office Leasing.