Chart of the Day: Financial services sector occupy 42% of CBD office space

Raffles Place/New Downtown is a preferred location for banks and other financial institutions.

This chart from Colliers International shows that companies from the financial services sector are the top occupying tenants in Singapore’s CBD offices making up nearly half (42%) of occupied office space in the CBD.

Also read: Singapore beats Shenzhen as second best office location for tech tenants

With the shift of major banks and financial institutions into the newer premium buildings in New
Downtown over the past decade, the Raffles Place/New Downtown (Premium) micro-market has grown to a 55% exposure to the financial sector. Raffles Place/New Downtown (Grade A) buildings, on the other hand, have a 48% exposure to the sector.

Shenton Way/Tanjong Pajar, City Hall, Beach Road/Bugis and Orchard have an exposure of 33%, 29%, 16% and 14% to the sector.

Sharing the remaining 45% of the premium space in Raffles Place/New Downtowns are professional services (15%) technology, media and telecommunications (TMT, 12%), resources/energy/commodities (9%), consumer (5%), as well as flexible workspace (4%).