Find out what sectors drive leasing demand in prime Grade A office market

It isn't the financial sector.

According to Nomura, the leasing demand in the prime Grade A office market is no longer driven by banks and financial institutions but other sectors such as legal, commodities and oil and gas. 

Indeed, manufacturing and distribution as well as business consultancy, IT and telecommunication together accounted for 63% of new leases signed by CCT in 1Q13, compared with banking, insurance and financial services which together accounted for just 13%.

"While banks and financial institutions which are typically large space users (over 30,000 sq ft), tenants from the non-banking sectors are typically medium-sized space users (10,000-20,000 sq ft) and would usually prefer office buildings with midsized floor plates," Nomura said.