Tenants have more office space to fill
The question is whether there is demand.
The Ministry of National Development reported:
The 1H2013 Reserve List will have 3 sites for office developments. The White site at Marina View/Union Street and 2 commercial sites at Sims Avenue/Tanjong Katong Road and Cecil Street/Telok Ayer Street are carried over from the 2H2012 Reserve List.
Together, these 3 sites will provide opportunities for the market to initiate more office space, over and above the 1,173,000 sqm GFA of office space in the pipeline, if there is demand.