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Market Thinker
The debate goes on on working from home versus working in the office.
The things for employers to consider during this panedmic and post-Covid19 include: safe distancing, cleaning frequency, rent/utility bills, team building, productivity, travel time, ability to differentiate work from house work, etc.
Is there still value in offices located in CBD?
The Central Business District (CBD), in my opinion, will remain as the financial centre in the long term. Major banks and financial institutions, large MNCs, legal firms, etc would still require an "additional presence" in Rfalles Place, Shenton Way, Marina Bay Financial Centre.
My customer used his flat to store his goods.
He runs an e-commerce business that didn't need huge space as most of his imported stuffs were like receive-today, despatch-the-following-day.
When it is viable to own than to lease.
With Mr Covid-19 expected to stay with us for some time, some businesses may find the going tough. They could put up for mortgagee sales. Companies with healthy balance sheet may consider owning than leasing especially in an enivronment where interest rate is close to zero.
Property News
PIL Building & Tower Fifteen for sale to capitalise on the CBD Incentive Scheme.
Source: The Business Times 21 July 2020 and The Strats Times 22 July 2020
Rent of industrial space at the lowest since Q2 2012: Cushman & Wakefield
Source: Business Times 24 July 2020
Far East Organisation has sold 62% of office units at Woods Square. T.O.P. was obtained in February this year.
Source: The Straits Times 26 June 2020
Work on JB-Singapore rail link project to begin in November.
Source: The Sunday Times 12 July 2020
Singapore economy set to shrink by 8.5% this year: Citi
Why
Source: The Strats Times 23 April 2020
Tech firms, start-ups likely to still drive up CBD office space
Source: Business Times 5 June 2020
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