Sg Office rents....

October 5, 2011, 1.23 pm (Singapore time)

S'pore prime office rents mostly flat in Q3   SINGAPORE - Office rents in Singapore's central business district were largely flat in the third quarter, while rental growth in other areas moderated as slowing economic growth weighed on demand for office space, DTZ Research said on Wednesday. The average gross rent for office space in Raffles Place in downtown Singapore was US$9.80 per square foot per month July-September. Along the central business district, rents at Marina Bay and Marina Centre were unchanged quarter-on-quarter while those at the Shenton Way area rose 2.0 per cent from the previous quarter to US$7.75 per square foot per month. 'Leasing activity remains subdued as occupiers become increasingly wary of the uncertain global economic outlook,'said Cheng Siow Ying, DTZ's executive director of business space said in a statement. She added that although some occupiers were holding back their expansion plans, there were space expansion needs from selective business sectors such as financial and professional services, IT-related companies and energy companies. -- REUTERS

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Observations....

Office rents....
Prime Office, flattish to slight growth....