March 25, 2015 | Sharon Cheong
Singapore is consistently ranked as one of the more competitive office rental markets throughout Asia, while also being a very expensive area of Asia for expatriates, as well as local business owners. Hong Kong is still 49 percent higher than Singapore, but the two areas are among the most highly sought and expensive in that region of the world.
A Growing Demand
As the new millennium unfolds, experts predict that Singapore and Hong Kong will only become more expensive. With a limited supply of exclusive office space in Singapore and a growing demand, many business owners can be left with poor choices that don't really exemplify their company's core values.
Exploring the Downtown Core
One area on the south side of the city is known as the Downtown Core and this is part of the Central Business District near the Singapore River. It is densely populated with skyscrapers, the Parliament House, the financial district and City Hall. Over the years, the Downtown Core has become highly desirable because of the many landmarks and commercial enterprises located there. With commercial buildings like Shenton Way and Raffles Place, entrepreneurs are very eager to own or lease property in this area.
New Developments in Progress
Moving forward, the experts expect prices to rise by another 5 or 6 percent because of the robust leasing demands. In spite of lingering worries over the global economy, office and commercial space in Singapore is slated to be scarce in the future. To alleviate those concerns and meet those needs, several major developments are planned for the future, including Marina One, DUO Tower, and Guoco Tower. Experts hope that adding these new spaces will stabilize the high cost of prime Grade A office space in Singapore.
The Cost of Luxury Office Suites
Many businesses require a luxurious suite of offices and a prestigious address in order to remain competitive. They do have the money, but with the supply so scarce, are often forced to move into less-than-desirable areas until something opens up. In addition to the cost of the property itself, businesses today need the latest communications and internet technology. A top-notch IT infrastructure can be extremely expensive to design and maintain, but is a necessity for many businesses these days.
Getting the Best Without Paying for It
One of the most popular choices for businesses today is the virtual or serviced office. Prime office space in one of Singapore's most luxurious office buildings can be leased for far less than the normal cost. Servcorp Serviced Offices include many amenities such as a dedicated receptionist, mail service, IT and HR staff that are bi-lingual and upscale décor. The Servcorp virtual office is fully equipped and furnished with attractive and comfortable furnishings. Meetings rooms and board rooms are available for all sizes of gatherings.
Please Contact Us
Whether you want to impress clients or are simply accustomed to the very best, Servcorp Serviced Offices provide those lovely conveniences that top notch businesses look for. If you are ready to move into a much nicer neighborhood, then Servcorp offers the very best in services and surroundings. Please call for a quote or to tour any one of our business complexes.
We have several locations in Singapore:
Six Battery Road
Six Battery Road
Tel: +65 6550 9888
Marina Bay Financial Centre Tower 2
Level 39 Marina Bay Financial Centre Tower 2
10 Marina Boulevard
Tel: +65 6818 6000
Suntec Tower Three
Penthouse Level & Level 42, Suntec Tower Three
8 Temasek Boulevard
Tel: +65 6866 3888
Level 26, PSA Building
460 Alexandra Road
Tel: +65 6809 3000
The Metropolis Tower 2
11 North Buona Vista Drive,
Tel: +65 6808 7700