Samsung, Credit Suisse, CapitaLand moving out of Singapore CBD

Off to the suburbs they go.

According to Knight Frank, apart from the influx of new legal practices following the approval of licences for international legal firms to practice in Singapore, Social Media, Insurance and Medical Research companies are also expanding in Singapore. For example, Facebook recently expanded its office space at 158 Cecil Street.

Decentralizations and Relocations: While there are companies looking to enter Raffles Place such as Commodity and Shipping Companies, prominent Multi-National Corporations such as Samsung and Credit Suisse are shifting their back office operations out of the Central Business District into suburban locations such as Mapletree Business City and One@Changi.

At the same time, CapitaLand will be shifting their corporate office from Capital Towers to Westgate located at Jurong East in 2015.

In addition, there are trends of serviced offices branching their business outside of the CBD into Suburban areas. Servcorp Serviced Offices has taken up a whole floor at PSA Building located in the Alexandra Precinct. Also, Regus will be opening an office at Tampines Junction in November 2012.