ASIA PACIFIC OUTLOOK 2025

SINGAPORE

NEW SUPPLY

New office supply in the CBD has exceeded the ten-year average

this year, driven by the completion of IOI Central Boulevard Towers.

2.5

FORECAST

The CBD office market is expected to face tighter supply from 2025 to 2027, with Shaw Tower’s completion delayed to 2026. Amidst consolidations and right - sizing in the market, pockets of secondary office space are anticipated to become available in 2025, though it is largely concentrated in a few developments.

2.0

1.5

1.0

NEW SUPPLY (MSF)

0.5

While new supply is set to rise again in 2028, available space may be lower due to potential owner-occupied spaces.

0.0

2022 2023 2024F 2025F 2026F 2027F 2028F 2029F

Cushman & Wakefield

ASIA PACIFIC OUTLOOK 2025

Source: Cushman & Wakefield