Outlook 2023 Singapore

SINGAPORE NEW SUPPLY

NEW SUPPLY (MSF)

1.4

 The CBD office market supply remains relatively tight.  Key upcoming new Grade A supply from Guoco Midtown (Q4 2022) and IOI Central Boulevard Towers (2023) have healthy pre commitment rates.  Current supply could tighten further due to potential redevelopments prompted by government programmes and the need to meet higher sustainability standards.

FORECAST

1.2

1.0

0.8

0.6

0.4

0.2

0.0

2020

2021

2022F

2023F

2024F

2025F

2026F

Source: Cushman & Wakefield