Trend Capital
4 Apr 2008
The occupancy rate for business parks in Singapore has hit 90 per cent, the highest in five years resulting from an office space crunch, a report said on Friday.
CB Richard Ellis (CBRE) said the occupancy rate grew from 89.4 per cent at the end of 2007 to an estimated 90.2 per cent at the end of last month.
The tight supply of office space in the central business district has prompted such financial institutions as Standard Chartered Bank, Credit Suisse and Citibank to relocate part of their operations to the Changi Business Park.
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