Singapore office rents see subdued growth in 1Q2023: JLL

Grade A office rents in Singapore’s Central Business District (CBD) welcomed a 1.0% q-o-q increase in 1Q2023, despite this representing the second consecutive quarter of slowing growth. This is according to research by real estate consultancy JLL, with the gross effective rent for such spaces standing at $11.30 psf pm.

Andrew Tangye, JLL Singapore’s head of office leasing and advisory, attributes the modest growth to a cautious approach from large space users who have opted to “press the pause button” on expansion and relocation plans in light of macroeconomic uncertainties.

Tay Huey Ying, JLL Singapore’s head of research and consultancy, explains that despite the prevailing caution, occupiers are seizing the opportunity to upgrade to better office spaces in new and upcoming completions due to the tight supply of Grade A office space.

For instance, at Guoco Midtown in the Bugis-Beach Road area, 80% of space is already taken up with at least another 10% in advanced negotiations, while IOI Central Boulevard Towers in the Marina Bay Financial District is around 45% pre-committed or under negotiation.

Occupiers of these buildings come from a range of sectors, including financial services, technology, media, and professional services.

Outside of the CBD, Labrador Tower in Pasir Panjang Road has already seen 25% of its space pre-committed ahead of its completion in 2024. Prudential has taken up around 150,000 sq ft there, having secured a two-year extension to their 15-year lease at 51 Scotts Road due to expire in November 2024.

Given the continued macroeconomic environment, Huey Ying believes that office demand will remain subdued for the rest of the year, with talent forward-planning becoming key for large space users. She expects rent growth to remain modest until 2024, when a lack of new completions and a stronger economic outlook could see a return to more accelerated growth.

Tangye agrees that now is the ideal time for occupiers to lock in spaces in good quality buildings, believing that this could ultimately lead to higher rental growth post-2024.…

Bukit Panjang Integrated Transport Hub Provide Amenities to Bukit Panjang Residents

The Bukit Panjang Integrated Transport Hub (ITH) is a state-of-the-art transportation facility that serves as a key transportation hub for the Bukit Panjang area in Singapore. Opened in 2017, the Bukit Panjang ITH is one of the most advanced transportation hubs in the country, offering commuters a seamless and convenient travel experience. In this article, we will explore the features and benefits of the Bukit Panjang ITH.

Location and Accessibility

The Bukit Panjang ITH is located at the junction of Bukit Panjang Road and Petir Road, next to the Bukit Panjang LRT station and the Bukit Panjang MRT station. The hub is well-connected to major roads and highways, making it easy for commuters to reach their destinations quickly and efficiently.

The Bukit Panjang ITH is also served by several bus services, including the 920 and 972, which connect commuters to other parts of Singapore. The integration of different modes of transportation at the hub means that commuters can easily switch between different modes of transport to get to their destination.

Seamless Connectivity

The Bukit Panjang ITH is designed to provide seamless connectivity between different modes of transportation. The hub is integrated with the Bukit Panjang MRT station and the Bukit Panjang LRT station, allowing commuters to switch between these modes of transport without leaving the hub.

In addition, the Bukit Panjang ITH also features a bus interchange, which provides commuters with easy access to different parts of Singapore. The interchange is designed with a spacious and well-ventilated waiting area, making it comfortable for commuters to wait for their buses.

Integrated Retail and F&B Spaces

One of the unique features of the Bukit Panjang ITH is its integrated retail and F&B spaces. The hub is home to several retail and F&B outlets, including a FairPrice Finest supermarket, a Watsons pharmacy, and several restaurants and cafes.

These outlets provide commuters with convenient access to everyday essentials, such as groceries and toiletries, as well as a variety of dining options. The integration of retail and F&B spaces within the hub makes it a one-stop destination for commuters who are looking to shop or grab a bite to eat before or after their journey.

Eco-Friendly Design

The Bukit Panjang ITH is designed with an eco-friendly focus, with features such as rainwater harvesting and a green roof. The rainwater harvesting system collects rainwater and channels it to the hub’s irrigation system, reducing the amount of potable water that is used for irrigation.

The green roof is designed with a variety of plants that help to absorb carbon dioxide and reduce the heat island effect, which is common in urban areas. These eco-friendly features help to reduce the environmental impact of the hub and promote sustainable living in the Bukit Panjang area.

Enhanced Passenger Experience

The Bukit Panjang ITH is designed with the passenger experience in mind, with features such as barrier-free access and a dedicated nursing room. The hub is equipped with ramps and lifts, making it easy for commuters with mobility issues to navigate the hub.

In addition, the Bukit Panjang ITH also features a dedicated nursing room, which provides nursing mothers with a private and comfortable space to breastfeed or pump. These features help to make the hub accessible and welcoming for all commuters.


The Bukit Panjang Integrated Transport Hub is a modern and innovative transportation facility that offers commuters a seamless and convenient travel experience. With its seamless connectivity, integrated retail and F&B spaces, eco-friendly design, and enhanced passenger experience, the Bukit Panjang ITH is a testament to Singapore’s commitment to providing world-class transportation infrastructure. As the Bukit Panjang area continues to grow and develop, the Bukit Panjang ITH will play a crucial role in connecting residents to other parts of Singapore, and in promoting sustainable living in the area.

Furthermore, the Bukit Panjang ITH has also contributed to the development of the surrounding area. The integration of retail and F&B spaces within the hub has spurred the growth of businesses in the vicinity, providing residents with more options for shopping and dining. The hub has also attracted new residents to the area, as it provides easy access to transportation and a range of amenities.

Overall, the Bukit Panjang ITH is an excellent example of how transportation infrastructure can enhance the lives of residents and promote sustainable living. With its modern facilities and eco-friendly design, the hub is a shining example of Singapore’s commitment to building a sustainable and livable city for all.

Why Bukit Timah is a Highly Sought After Real Estate Location in Singapore

Bukit Timah is a popular location in Singapore that is attracting attention from real estate investors, homebuyers, and renters alike. This vibrant area has a lot to offer, from its lush greenery and quiet residential streets to its bustling shopping and dining scene. In this article, we will explore the reasons why Bukit Timah is becoming increasingly popular as a real estate location in Singapore.

Location, Location, Location

One of the primary reasons for Bukit Timah’s popularity is its location. Situated in the heart of Singapore, Bukit Timah is just a stone’s throw away from the Central Business District (CBD) and Orchard Road, which are two of Singapore’s busiest commercial areas. This makes it an ideal location for professionals who work in these areas and want to live close by.

Bukit Timah is also well-connected to the rest of Singapore, with easy access to major highways such as the Pan Island Expressway (PIE) and Bukit Timah Expressway (BKE). This makes it easy for residents to travel to other parts of Singapore for work, leisure, or shopping.

Natural Beauty

Bukit Timah is home to some of the most beautiful natural scenery in Singapore, which adds to its appeal as a real estate location. The area is famous for its lush greenery, with Bukit Timah Nature Reserve being one of Singapore’s most popular nature reserves. This 164-hectare reserve is home to a wide variety of flora and fauna, including monkeys, squirrels, and numerous bird species.

In addition to the nature reserve, Bukit Timah is also home to several parks and green spaces, including Bukit Batok Nature Park and Hindhede Nature Park. These green spaces offer residents a chance to escape the hustle and bustle of city life and enjoy some peace and quiet.

Shopping and Dining

Bukit Timah has a thriving shopping and dining scene that is attracting people from all over Singapore. The area is home to several shopping malls, including Bukit Timah Plaza, Beauty World Centre, and The Grandstand. These malls offer a wide range of shopping and dining options, from high-end fashion boutiques to local hawker stalls.

In addition to the malls, Bukit Timah is also home to several food and beverage hotspots, including Cheong Chin Nam Road and Upper Bukit Timah Road. These areas are famous for their wide range of food options, from local delicacies such as roti prata and nasi lemak to international cuisines such as Japanese and Italian.

Education Hub

Bukit Timah is also a popular location for families with children, as it is home to several top-notch schools. The area is famous for its education hub, with several international schools and local schools located in the area.

Some of the popular international schools in Bukit Timah include Singapore American School, Swiss School Singapore, and Canadian International School. These schools offer a world-class education and attract families from all over the world.

Local schools in Bukit Timah are also highly regarded, with some of the top schools in Singapore located in the area. These include Nanyang Primary School, Methodist Girls’ School, and Hwa Chong Institution.

Luxury Living

Bukit Timah is known for its luxurious properties, which are attracting high-net-worth individuals from all over the world. The area is home to several upscale residential developments, including The Beverly, Fourth Avenue Residences, and Mayfair Modern.

These properties offer residents a luxurious lifestyle, with top-of-the-line amenities such as swimming pools, gyms, and 24-hour security. They are also located in some of the most desirable areas of Bukit Timah, with easy access to shopping, dining, and entertainment options.

Rising Property Prices

The increasing popularity of Bukit Timah as a real estate location is also reflected in the rising property prices in the area. According to data from the Urban Redevelopment Authority (URA), the median price of non-landed private residential properties in the Bukit Timah area was SGD 2,100 per square foot in Q4 2021, up 6.5% from the same period in 2020.

This upward trend in property prices is a testament to the increasing demand for properties in the area, as more and more people look to invest in Bukit Timah real estate.

Strong Rental Market

Bukit Timah is also a popular location for renters, thanks to its proximity to the CBD and Orchard Road, as well as its attractive lifestyle options. This has led to a strong rental market in the area, with high occupancy rates and rental yields.

According to data from EdgeProp, the rental yield for non-landed private residential properties in the Bukit Timah area was 2.7% in Q4 2021, higher than the national average of 2.5%. This makes Bukit Timah a viable option for property investors looking to generate rental income.


In conclusion, Bukit Timah is becoming increasingly popular as a real estate location in Singapore due to its prime location, natural beauty, shopping and dining options, education hub, luxurious properties, rising property prices, and strong rental market. With its many attractions and amenities, Bukit Timah is an ideal location for anyone looking to live or invest in Singapore’s vibrant real estate market.

Six-storey Boat Quay shophouse sold for $37 mil

, Singapore52 Boat Quay was sold for $37 million to a long-standing client via Savills Singapore. Having undergone extensive renovations in 2015, the shophouse is now a modern commercial space with tenants occupying the various floors; ranging from the Italian restaurant Braci to the Izakaya bar to corporate office tenants. It is a testament to the demand for high-quality commercial shophouse properties in prime locations that the property garnered significant interest from investors. Yap Hui Yee, the executive director of investment sales and capital markets at Savills Singapore, noted that it is extremely rare for a riverfront-facing shophouse to be available for sale, making this an excellent opportunity for her client to acquire the flagship property. The seller made a gain of $16 million from the sale.…