Established as one of Asia’s most stable and booming nations, Singapore has proven to be a central business hub internationally. With over S$600 Billion in Foreign Direct Investments (FDIs) solely from 2010 to 2015, Singapore has developed its reputation as a reliable business centre in the Asia Pacific region.
The lack of enough Hong Kong office properties and tighter capital control measures has ultimately led companies to find prime spaces elsewhere in Asia. Comparatively, office space in Singapore has become the more appealing option as compared to other Asian countries when it comes to the rental of workplaces due to similarities with Hong Kong and convenience to do business. What’s more interesting is that Hong Kong investors are leading the way.
The attention shifted to Singapore primarily because it allows more choice—from Science Park, Changi Business Hubs, and rising commercial hubs such as Paya Lebar. Decentralised from the Central Business District, office developments in Singapore are able to mix workspaces with residential and retail properties and offer greater space efficiency due to larger floor plates.
While other developed global equivalents are also at a competitive position, Singapore maintains a competitive edge by adopting new trends expected by occupiers. The wave of new office completions in the city-state includes open-plan offices, certified green environments and stellar transport connectivity to and from the city centre.
These modern conveniences make Singapore’s office spaces an increasingly attractive option for companies looking for a regional headquarters in a competitive business location. Paya Lebar Quarter is only one of several areas in the modern metropolis.
The potential for more effective office leasing makes it a lot easier to set relocation in motion. And Singapore has found the sweet spot to remain in the forefront of the office property market.