Brace yourselves for a hefty 2.5m sq ft of new office spaces by end-2013

Find out where these will be from.

According to Knight Frank, attracted by Singapore’s conducive business environment, good quality living standards and a multi-cultural society, more multi-national corporations are looking to set up their regional headquarters here.

In addition, large companies are starting to explore relocations, in search for better quality space at reasonable rentals.

Here's more from Knight Frank:

Financial institutions, though still adopting a generally measured approach in space expansions, are ramping up their back-office operations at the periphery, i.e. fringe and suburban areas.

In view of tightening directive on the business space usage, some business space tenants were also observed to relocate to the more affordable office spaces in the periphery.

These trends, barring any unforeseen circumstances, would spur demand for office spaces in the year ahead and support the absorption of new supply.

With Asia Square Tower 2 being completed in September 2013, a total supply of 2.5 million sq ft of new office space is expected by end-2013, stemming from major developments such as The Metropolis, Nexus @one-north, office tower at JEM, and Orchard Gateway.

An estimated 1.8 million sq ft of new office space will be added to overall office stock in 2014, with new developments such as CapitaGreen and Paya Lebar Square to be completed.