SG Property Intelligence Flight to quality in Singapore offices is accelerating

Research evidence excerpt

SG Property Intelligence Flight to quality in Singapore offices is accelerating

J P M O R G A N Asia Pacific Equity Research

20 May 2026

SG Property Intelligence

Flight to quality in Singapore offices is accelerating

Singapore/ASEAN Property and

REITs

Flight to quality in Singapore offices is accelerating, with premium CBD and New AC Terence M Khi

Downtown towers absorbing space quickly. IOI Central Boulevard West Tower is

(65) 6882-1518

nearing full occupancy amid ongoing negotiations, while Marina Bay Financial terence.ml.khi@jpmorgan.com

Centre and Marina One continue to attract banks such as BNY Mellon, ANZ and AC Mervin Song, CFA

Taiwan Cooperative Bank. Conditions look tighter in 2026 and 2027 due to limited (65) 6882-7829

new supply, reduced choice and macro uncertainty tied to the Middle Eastconflict, mervin.song@jpmorgan.com

pushing tenants to be more flexible on location. Grade A rents have edged above S J.P. Morgan Securities Singapore Private Limited/

J.P. Morgan Securities (Asia Pacific) Limited/ J.P.

$14.00 psf, with a further 2.5% to 3% increase expected in 2026. Leasing demand Morgan Broking (Hong Kong) Limited

remains strongest in the CBD, particularly Tanjong Pagar, as redevelopment-driven

(HarbourFront Center and 79 Anson) displacement reshapes requirements. (Source:

Corporate Locations)

Companies

CIT and UOL could narrow their valuation gaps by unveiling clearer, bolder

strategies with quantifiable targets and improved investor communication, with

CDL’s ongoing strategic review expected to conclude by June, according to a

Business Times editorial. Potential action items highlighted include repositioning

investment properties into private real estate funds and or REIT structures to bring in