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Singapore Viewpoint VIEWPOINT SINGAPORE OFFICE Office Market Office Space Redefined Desmond Sim Head of Research, South East Asia & Singapore Dylan Chua Assistant Manager, Singapore Research April 2017 CBRE Research © CBRE Ltd. 2017 | 1 VIEWPOINT SINGAPORE OFFICE Understanding Activity-based working Chart 1: Total office stock per employed resident* 200 150 100 50 0 2003 2004 2002 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Office Space (sq. ft)/Pax April 2017 CBRE Research © CBRE Ltd. 2017 | 2 VIEWPOINT SINGAPORE OFFICE Co-working spaces – private sector’s answer to activity-based working April 2017 CBRE Research © CBRE Ltd. 2017 | 3 VIEWPOINT SINGAPORE OFFICE Figure 1: At a Glance – Singapore’s Co-working Market in 2016 ≥50 ≥400,000 ≥60 1,000 – 33,000 (Avg size: 6,800) Table 1: New co-working facilities in 2017-2018 Year of Operation Operator (s) Location Size (sf)* 2017 The Working Capitol 140 Robinson Road 55,000 2017 JustCo UIC Building 38,000 2017 JustCo Marina One 36,000 2017 Unilever Foundry and Padang & Co Mapletree Business City 22,000 2017 The Work Project OUE Downtown Gallery 20,000 2017 Keppel Land Keppel Bay Tower 18,000 2017 Spacemob and Ascendas-Singbridge Ascent 14,000 2018 Distrii Republic Plaza 60,000 April 2017 CBRE Research © CBRE Ltd. 2017 | 4 VIEWPOINT SINGAPORE OFFICE Benefits and Opportunities for Landlords The future of Co-working April 2017 CBRE Research © CBRE Ltd. 2017 | 5 VIEWPOINT SINGAPORE OFFICE April 2017 CBRE Research © CBRE Ltd. 2017 | 6 VIEWPOINT SINGAPORE OFFICE SINGAPORE RESEARCH Disclaimer: Information contained herein, including projections, has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to confirm independently its accuracy and completeness. This information is presented exclusively for use by CBRE clients and professionals and all rights to the material are reserved and cannot be reproduced without prior written permission of CBRE. Agency License No.: L3002163I.
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