Asia Pacific Office Outlook 2024

SINGAPORE

NEW SUPPLY

N EW S U P P LY ( M S F )

2.5

FORECAST

2.0

 New office market supply in the CBD is expected to surge next year with the completion of IOI Central Boulevard Towers (originally scheduled for completion in 2023) and Keppel South Central. supply is anticipated to come into the market in 2024/2025.  Between 2025 and 2027, office supply is expected to return to a tight supply situation which will support the rental market.  Aside from new office supply, more secondary

1.5

1.0

0.5

0.0

2021

2022

2023F

2024F

2025F

2026F

2027F

Source: Cushman & Wakefield