Singapore Prime Office Rents Jump to Highest Since 2008 [BNN Bloomberg (Canada)]
Jones Lang LaSalle Incorporated (JLL)
Last jones lang lasalle incorporated earnings: 2/11 07:30 am
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Source: BNN Bloomberg
Gross effective monthly rents for premium office space in the city's central business district jumped to S$11.42 ($8.48) per square foot in the first three months of the year, according to data released Wednesday by Jones Lang LaSalle Inc. That's the most since the last quarter of 2008 and reverses a drop of 0.5% in the prior two quarters. The city-state has so far avoided a major downturn in the commercial real estate market, which is hitting the largest Western cities and regional rivals like Hong Kong. The strength is underpinned by a widespread return-to-office push and a boom in private wealth. “Enquiry levels have risen, and these are stemming from firms in professional and financial services as well as the consumer goods sectors,” said Andrew Tangye, head of office leasing and advisory for JLL Singapore, in a statement. In addition, vacancies for prime office space reached a post—pandemic low of 5.3% in the first quarter, compared with 5.5% in the three months before, ac
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JLL
Earnings
- 2/27/24 - Beat
JLL
Sec Filings
- 4/12/24 - Form ARS
- 4/12/24 - Form DEF
- 4/12/24 - Form DEFA14A
- JLL's page on the SEC website