These two charts show worst may be over for office market
Suntec City office 100% occupied, first time since 2Q08.
Accoriding to Nomura Research, it appears the office market may be stabilising and the worst of negative rental reversion may now be behind CCT’s portfolio even though vacancy risk remains.
Committed occupancy also improved across different portfolios in 2Q12, from CCT to SGREIT’s office assets at Wisma Atria and Ngee Ann City. KPLD’s MBFC Tower 3 also reported an increase in committed occupancy from 67% to 70% during the quarter, with further commitments reported subsequently.