Thursday, September 11, 2008

Ease Of Doing Business: Singapore Is Still No. 1

Source : The Business Times, September 11, 2008

SINGAPORE is tops for the third straight year globally in the ease of doing business, thanks to continual regulatory reforms, a survey by the World Bank and International Finance Corporation (IFC) shows.

New Zealand is a close runner-up, followed by the United States, Hong Kong and Denmark. The top five companies have all retained their positions from last year. The Doing Business 2009 report noted that Singapore has undertaken reforms in starting a business and dealing with construction permits.

It simplified the online process for business start-ups, cutting the time required by a day, and fast-tracked the process for giving out construction permits from 102 days to 38. The survey ranks 181 economies based on 10 indicators of business regulation that track the time and cost to start and operate a business, trade across borders, pay taxes and close a business.

The rankings do not reflect areas such as macroeconomic policy, quality of infrastructure, currency volatility, investor perceptions or crime rates.

A record number of 239 reforms were identified between June 2007 and June 2008 that make it easier to do business in 113 economies.

Eastern Europe and Central Asia led the world in reforms for a fifth straight year, with over 90 per cent of its countries making reforms. Africa also had a record year for regulatory reforms, with 28 countries completing 58 reforms - more than in any other year. East Asia and the Pacific saw the biggest pick-up in the pace of reforms among regions this year. Two-thirds of its economies introduced reforms, up from less than half last year. Some 26 reforms were identified in 24 countries across the region between June 2007 and June 2008.

'Countries in the region are clearly committed to reform agendas,' said Dahlia Khalifa, a co-author of the report. 'Regardless of their stage of economic development, they are recognising the role that regulatory reform can play in staying competition while boosting entrepreneurship and job creation,' she added.

Among the world's largest emerging markets, China led with reforms that make it easier to obtain credit by expanding the range of assets that can be used as collateral, to pay taxes and enforce contracts, and retained its 83rd position. Brazil and India both eased trade processes.

In a teleconference yesterday, Sylvia Solf, programme manager of the survey, told reporters that the top 10 rankings were little changed as countries that make the list continually press for reforms as they seek to enter new markets, free trade agreements as well as to achieve cost efficiencies.

Seven Organisation for Economic Co-operation and Development (OECD) high-income economies, including Canada, Greece, Hungary and Portugal, made regulatory reforms this year.

Ms Solf noted that these high-income economies recognise that red tape remains an issue and are seeking ways to cut it.

More Chaos Ahead For US Banks: Jim Rogers

Source : The Business Times, September 11, 2008

(NEW YORK) US financials face more 'chaos' as the credit market worsens, investor Jim Rogers predicted.

Not convinced: Mr Rogers is still betting against US investment banks, even after ending his short sale of Citigroup Inc a few weeks ago

'Balance sheets of many of these financial institutions are still terribly impaired and there are more problems to come,' he said during a Bloomberg Television interview.

'We had the worst credit bubble in the history of the world. You don't clean that out in a year or two or three.'

The chairman of Singapore-based Rogers Holdings said that he's still betting against US investment banks, even after ending his short sale of Citigroup Inc a few weeks ago because the bank's stock fell too low.

Citigroup shares closed at US$14.56 on July 15, the lowest since 1997. The world's largest bank by assets has rallied 25 per cent since then.

Mr Rogers also called the government takeover of Fannie Mae and Freddie Mac 'outrageous' and said that the largest US mortgage finance companies should have declared bankruptcy.

'I'm happy some people will be able to get lower mortgages, but I shouldn't have to pay for it,' he said. Fannie Mae and Freddie Mac executives aren't 'turning in their Maseratis when they're asking us to bail them out'.

Both companies dropped to less than US$1 this week in New York Stock Exchange trading after regulators put them into a government-operated conservatorship, ousted their chief executive officers and scrapped dividends.

Mr Rogers, who correctly predicted the start of the commodities rally in 1999, said that he's still bullish on oil.

The fuel has fallen 31 per cent since its July 11 intraday record. -- Bloomberg

NZ House Sales Slump To 26-Year Low

Source : The Business Times, September 11, 2008

(WELLINGTON) Sales of New Zealand houses fell to a 26-year low last month as interest rates close to a record curtailed demand for property.

Weak demand: The median house price last month fell to NZ$330,000 from NZ$350,000 a year earlier - a drop of 5.7 per cent

The number of homes sold dropped 34 per cent to 4,220 last month from 6,394 a year earlier, according to a report from the Real Estate Institute of New Zealand Inc.

The median house price dropped 5.7 per cent.

Slowing consumer spending and a plunge in the housing market tipped New Zealand's economy into a recession in the first half of this year, prompting Reserve Bank governor Alan Bollard to cut interest rates for the first time in five years in July.

The central bank will probably cut borrowing costs again today, according to all 15 economists surveyed by Bloomberg News.

'The underlying fundamentals for housing demand remains weak, with mortgage rates still at high levels,' said Jane Turner, economist at ASB Bank Ltd in Auckland. 'It is tough going for households financially, and they need interest rates to be much lower to provide any real improvement.'

An over-supply of houses in the market will weigh on prices, she said.

Buyers are staying on the sidelines, forcing vendors to either take their property off the market or accept a lower price.

'Economists are on the money with predictions of a 5-10 per cent decrease' in prices, said Murray Cleland, national president of the institute. 'Much will depend on the Reserve Bank's decision. The expected decrease will take the pressure off mortgage costs.'

The median house price fell to NZ$330,000 (S$316,509) from NZ$350,000 a year earlier. Prices dropped NZ$10,000 from July.

The median time it took to sell a house was 55 days compared to 33 days in August last year. Still, the number of days it took to sell declined from a record-high of 58 in July.

Ms Turner said that wet weather last month may have added to the slump in sales, keeping buyers at home rather than inspecting properties. -- Bloomberg

Political Uncertainty In Malaysia Mars Some Investments: Report

Source : The Business Times, September 11, 2008

THE jury is still out on whether the Opposition's recent success in the Permatang Pauh by-election as well as the March general election have affected the country's attractiveness to local and foreign property investors, according to a new report by DTZ.

Stacking up: The country is seeing frequent headlines of political upheaval - raising concerns about stability

The current political situation has affected short-term fund flow, especially in equities, and created more 'fence-sitters'. But major real estate investments which require a longer term perspective have so far weathered the hiatus well, it said.

Malaysia has traditionally prided itself on its political stability and attractiveness to foreign direct investments. But since March 2008, when the ruling party lost its two-thirds majority, the country has seen almost daily headlines of political upheaval - raising concerns about political stability.

But empirical evidence gathered by DTZ Research has not provided solid indications that the increased political uncertainty has hit investment interests.

For one, there continues to be a stream of foreign investors coming to Malaysia for early prospecting or to explore opportunities, according to DTZ.

Although the number has declined compared with 9-12 months ago, DTZ attributes this to the sub-prime crisis rather than concerns about the country's political stability.

DTZ also points out that since March, there have been several open biddings for two key properties up for sale, both prime office buildings in downtown Kuala Lumpur.

According to DTZ, the responses to both properties were very encouraging. The decision to sell is also in no way a reflection of owners' concerns as they were made before the current political developments, DTZ says.

DTZ's reports conclude: 'Hopefully, the political situation will soon settle, and whether it is by the Opposition or the present government, the push to provide a stronger reformist economic policy that will steer the country towards greater development can only be a boon for investors.'

Property Transactions With Contract Dates Between Aug 25th - 30th, 2008

S'pore Still Tops For Business

Source : The Straits Times, Sep 11, 2008

It retains No. 1 World Bank ranking for third year, thanks to key reforms

IT'S a hat-trick.

For the third year running, Singapore has been ranked as the world's easiest place to do business by the World Bank.

Around the globe, a record 239 reforms were introduced in 113 economies in the last year.

But it was two important reforms - shortening the time periods needed to start a business and to obtain a construction permit - that kept Singapore narrowly above New Zealand in the World Bank's latest Doing Business rankings.

Making full use of the Internet was the key to Singapore's success. An online one-stop shop helped slash the time it takes to issue a construction permit from 102 days to just 38 days.

Singapore also simplified the online process for starting a business - slicing a day off the already rapid procedure. It now takes only four days and $365 to start up a business here.

The news was welcomed by Singapore's trade associations, the Singapore Business Federation and the Association of Small and Medium Enterprises. They noted that easing regulations for firms had certainly helped to offset the rising costs of doing business.

Programme manager for the report Sylvia Solf said enforcing contracts was one area in which Singapore could improve. It takes one month more than it did the previous year to enforce a contract, and the cost of taking a case to court is about a quarter of the claim value.

Ms Solf said the top 10 economies remained almost unchanged - a reflection of the continuous commitment of richer nations to simplify regulations. Any country that stops reforming will lose its position in the competition, she said.

The annual report, now in its sixth year, is put up by the World Bank and its private lending arm, the International Finance Corp (IFC). It ranks 181 economies according to 10 indicators of business regulation - from starting a business to paying taxes and closing a business.

The aim is to show how simplifying procedures encourages investment, creates jobs and spurs growth. The top 10 are all high-income economies.

East Asia and the Pacific had the greatest momentum of reform among all the regions with 63 reforms made in the past year, up from 46 the year before, the report noted. Leading the charge was Thailand, which recorded four big improvements to climb from 19th to 13th place.

Ms Dahlia Khalifa, a co-author of the report, said that countries recognised the need for regulatory reform to make them more competitive and are 'clearly committed to reform agendas'.

Overall, Azerbaijan was deemed the top reformer, after upgrading in seven areas. It leapt 64 places from 97 to 33. The Central Asian and Eastern European region recorded the most number of reforms in the world, with 26 of the 28 countries implementing a total of 69 reforms.

World Bank/IFC vice-president for financial and private sector development Michael Klein said that having 'good rules is a better basis for healthy business than 'who you know'.'

SIA To Move To Ion Orchard

Source : The Straits Times, Sep 11, 2008

SINGAPORE Airlines (SIA) will be on the move next year.

The airline's downtown service centre, currently at Paragon Shopping Centre on Orchard Road, will relocate a few doors away to the upcoming Ion Orchard mall at Orchard Turn.

When contacted, Mr Stephen Forshaw, SIA's vice-president of public affairs, said: 'Singapore Airlines will be moving its service centre in Paragon to Ion Orchard mid-next year.

'Details of the new service centre will be announced to our customers in due course.'

He declined to disclose how big the service centre at Ion will be.

When contacted, Ion would not comment on this either, but it did say SIA's is 'likely (to be the) only airline service centre' at the mall.

SIA currently occupies two retail spaces in Paragon. One, on the ground floor, houses its Priority Passenger Service Club Service Centre for frequent flyers.

The other, on the second floor, houses its service centre, where customers can make reservations and pick up tickets.

Paragon would only confirm that 'SIA's lease expires next year'.

But it told The Straits Times earlier this year that SIA's second-floor space will make way for Italian label Gucci, which will have a two-storey store on that corner of Bideford Road.

It will also have a five-storey, custom-designed facade on the building's exterior.

More PRs Snapping Up Private Homes

Source : The Business Times, September 11, 2008

Their share in pool of foreign buyers is rising after turmoil in global markets

THE proportion of permanent residents (PRs) in the pool of foreign buyers of private homes here has been rising since the third quarter of 2007, when the US sub-prime crisis struck, according to DTZ's analysis of caveats data from Urban Redevelopment Authority's Realis system.

Major attraction: Projects that received more foreign interest in Q2 include The Lakeshore in Jurong

Correspondingly, non-PR foreigners have seen their share of this pool decline from 54 per cent in Q3 2007 to 46 per cent in Q2 this year.

One explanation could be that PRs are more likely to buy Singapore homes for their own occupation whereas non-PR foreigners may be more inclined to buy for investment and would hence tend to become increasingly cautious amidst the volatile global financial markets.

DTZ senior director (research) Chua Chor Hoon expects the trend to continue in the coming months given the global economic uncertainty.

The property consultancy's analysis showed that PRs made up 54 per cent of the total number of 913 private-home purchases by foreigners in Q2 this year captured by Realis as at early August. This was up from a 51 per cent share in Q1, which in turn was higher than 47 per cent and 46 per cent shares in the fourth and third quarters of last year respectively.

Foreigners (including PRs) bought a total 913 private homes here in Q2 2008, up 3 per cent from the preceding quarter. Malaysians overtook Indonesians as the top foreign buyers of private homes in Singapore in the second quarter.

Malaysians accounted for 19 per cent (172 transactions) of the overall purchases by foreigners (including PRs), followed by a 17 per cent share for Indonesians. China and India citizens each accounted for 11 per cent of foreign buyers while UK buyers had a 9 per cent share.

Projects which received more foreign interest in Q2 include The Lakeshore in Jurong, Vutton at Akyab Road and Nassim Park Residences. Foreigners (including PRs) made up 44 per cent of the 55 units sold at The Lakeshore, and about two-thirds of the 11 units sold at Scotts Square and nine units sold at Martin Place Residences.

'The Indonesians favour prime districts 9 and 10. District 15 is popular with all the five major nationalities because it offers sea views, easy access to the airport and city, and is a popular residential area even with the locals with its attractive amenities.

'The Chinese, Malaysians and Brits also buy into the west. This could be due to the proximity to the Science Park, industrial estates and National University of Singapore,' Ms Chua said.

Eng Wah Wins Support For Property Sale

Source : The Business Times, September 11, 2008

Next EGM could prove trickier for management

THE first extraordinary general meeting (EGM) was a straightforward one, but expectations are that the second meeting could be a lot trickier.

At Eng Wah Organisation's EGM yesterday, some 40 or so shareholders gave strong support for the proposed sale of the company's Mandarin Theatre in Kallang Bahru to Carilla Pte Ltd for $13 million.

This price is significantly higher than the property's net book value of $1.1 million as at March 31, and also represents a premium to its $12.8 million appraised value as at June 5.

The company's asset sale came after it entered into a reverse takeover deal with Japanese pharmaceutical firm Transcutaneous Technologies to buy over its business by issuing new shares. One of the precedent conditions is asset sales.

However, all eyes are on the next EGM when the management seeks shareholders' approval to sell another four properties to its founder and controlling shareholder Goh Eng Wah, and his daughter, managing director Goh Min Yen, for $99.48 million.

The properties - Jubilee Entertainment Complex in Ang Mo Kio, Toa Payoh Entertainment Centre, Empress Theatre in Clementi and the 16th floor of Orchard Towers - are part of a portfolio of assets put up for sale last November, but the search for buyers has proved controversial. At the heart of the matter is whether those asset sales were transparent enough and if the prices are right.

Last month, the Securities Investors Association of Singapore (SIAS), which represents retail investors here, called on Eng Wah to be more transparent in the sale of its properties, asking it to 'ensure that the sale price is maximised'.

In response, the firm stressed that the proposed sale price to Mr Goh was based on the value of the assets determined by property consultants Chesterton International and CB Richard Ellis, amid negative market sentiment and a depressed credit environment.

Both Mr Goh - who has a deemed interest in 70 per cent of Eng Wah's shares and is also executive chairman of the company - and Ms Goh will abstain from voting on the transaction. That means Eng Wah's minority shareholders will have the final say on whether the sale takes place.

Yesterday, BT spoke to a number of shareholders and found that most were satisfied with Eng Wah's response. However, the sceptics remained unconvinced, pointing to the undervaluation of those properties.

Without giving his full name, shareholder Mr Lui said that the premium offered is clearly inflated since Eng Wah did not revalue those assets despite the property boom of the past two years. 'My question is: Are the balance sheet values a true and fair representation of how much they are worth?' he told BT.

Another added:'They were sold for a song.'

One of the top 20 shareholders in Eng Wah is believed to oppose the deal, even though most investors are confident that the proposed transaction will muster enough votes to go through. But tough questions can still be expected the next time the shareholders meet.

Big Demand For Marina Bay Towers

Source : The Straits Times, Sep 11, 2008

THE Marina Bay Financial Centre (MBFC) is filling up fast even though it is about two years from completion, as tenants look for prime space amid the supply crunch.

Three foreign companies have just signed up for extensive office leases in Tower Two of the MBFC, helping to lift its occupancy level to two-thirds.

Tower One is already fully let.

Singapore's fast-rising office rents look to be peaking, but the shortage is expected to largely remain until the second quarter of 2010, when the first two of the three MBFC towers are due for completion.

The latest tenants to sign up include two leading Australian companies.

BHP Billiton, the world's largest diversified resources firm, will lease 142,000 sq ft on levels 44 to 50. Financial services firm Macquarie Group will lease more than 74,000 sq ft on levels 16 to 18. Both leases are for 10 years with options for renewal and expansion.

The third tenant is French software company, Murex South-east Asia, which has been hit by the office shortage.

It will move from its 12,000 sq ft office at Prudential Tower to its new 25,000 sq ft space on level 19 of MBFC's Tower Two in 2010. 'If we had found another 12,000 sq ft in Prudential Tower or nearby, we would not have to move,' said the firm's chief executive, Mr Guy Otayek.

As the firm is looking for prime space with large floor plates, MBFC is its only choice, he added. It has signed a six-year tenancy agreement. 'The climate is not so positive now, but we are expanding for the long term,' he added.

Overall, given the United States sub-prime crisis, financial institutions are postponing big pre-commitments, said a market watcher.

'There is of course some caution among occupiers, but across the majority of our client base, we sense that there is underlying confidence in Singapore's relative position,' said Mr Moray Armstrong, executive director of CB Richard Ellis, MBFC's marketing agent.

He added that the MBFC pre-leases were a good indicator that demand for quality space remained in positive territory, even though overall momentum had eased.

Marina Bay Financial Centre - Over 65% Of Phase 1 Leased Out

Source : The Business Times, September 11, 2008

BHP Billiton and Macquarie take up total of more than 216,000 sq ft

The first phase of Marina Bay Financial Centre is 65.6 per cent pre-leased, almost two years ahead of its completion in Q2 2010. Two big names from Australia, BHP Billiton and Macquarie Group, are among the latest tenants announced by the consortium developing the mega project.

The BHP Billiton deal confirms a BT story last month.

The resources giant will lease 142,000 sq ft on levels 44 to 50 of MBFC's Tower 2 under the project's first phase, while Macquarie will take more than 74,000 sq ft on levels 16 to 18 of the same tower. Both tenancies are for 10 years, with options for renewal and expansion.

Murex Southeast Asia, which is involved in software development for trading, risk management and processing, has leased about 25,000 sq ft on level 19 of Tower 2 under a six-year tenancy agreement.

With the latest signings, the total 2.92 million sq ft of Grade A office space in both phases of the MBFC development is 61 per cent pre-committed.

The project is a symbol of Singapore's ambition to be a leading financial centre.

The office component of MBFC's Phase 1 comprises Tower 1, fully let and anchored by Standard Chartered Bank, and Tower 2, which is now 45 per cent pre-leased. The second phase, slated for completion in Q2 2012, consists of Tower 3, which is 55 per cent pre-committed and anchored by DBS Bank with a 700,000 sq ft lease.

MBFC marketing agent CB Richard Ellis's executive director Moray Armstrong said that while overall office leasing momentum in Singapore has eased in the past few months, the latest signings at MBFC are 'a good indicator that demand for quality office space remains in positive territory'.

'There is, of course, some caution among occupiers, but across the majority of our client base we sense there is underlying confidence in Singapore's relative position,' he said.

The MBFC project also includes two residential developments and 119,000 sq ft of retail space. The project is being developed by a consortium comprising Hongkong Land, Keppel Land and Li Ka-shing's Cheung Kong (Holdings)/ Hutchison Whampoa.

New Banking Hubs Like S'pore On Radar Screen

Source : The Business Times, September 10, 2008

TRADITIONAL offshore banking centres face a number of challenges as tighter tax codes and the emergence of new banking hubs like Singapore prompt the wealthy to re-think their banking arrangements.

But Switzerland and other traditional centres are not about to give up their leadership positions, says Boston Consulting Group in its latest wealth report. 'They remain formidable offshore hubs given their experience and talent, as well as the quality of their advice and services.' Still, the centres should take steps to ensure that they stay competitive, said BCG.

BCG has estimated the total offshore assets under management held in private banks centres at US$7.3 trillion. Switzerland's share of this is US$2 trillion or 27 per cent.

The UK, Channel Islands, Isle of Man and Dublin have a combined US$1.7 trillion, or 24 per cent share.

Singapore's offshore AUM is estimated at US$500 billion, and Hong Kong's at US$200 billion.

BCG said some high net worth individuals may consider relocating to foreign offshore centres as 'a roundabout way of complying with domestic tax regulations'. They are more likely to relocate to places with a high quality of life and large business communities such as Switzerland and Singapore, rather than to small offshore centres such as Cayman Islands or Guernsey.

Investors from China, Taiwan and Hong Kong are gravitating towards Singapore, said BCG, rather than traditional European offshore centres.

TID Wins URA Condo-Site Tender With $84m Bid

Source : The Business Times, September 11, 2008

THE Urban Redevelopment Authority (URA) yesterday awarded a 99-year leasehold condo site next to Tanah Merah MRT Station to top bidder TID, just a day after the tender closed on Tuesday.

This contrasts with the couple of weeks or more that URA has taken to deliberate on awarding earlier sites, which fetched bids below expectations.

TID's $84 million winning bid reflects a land price of about $282 per square foot (psf) of potential gross floor area, within the $250-$300 psf per plot ratio range market watchers predicted for the confirmed list site when it was launched in mid-July.

TID is a joint venture between Singapore's Hong Leong Group and Japan's Mitsui Fudosan.The tender drew seven bids.

Cuppage Terrace Gets Trendy

Source : My Paper, Thu, Sep 11, 2008

ONCE a sleepy walkway in an area known for Japanese food, Cuppage Terrace hopes to woo a more trendy crowd after a $15-million revamp.

A tantalising array of 15 al fresco outlets, including restaurants, bars and spas, will open later this month, offering more late-night options for office workers and tourists alike. The area will open from from 11am till late, said Mr Kishin R.K. of Royal Brothers Group, the property-investment group which owns Cuppage Terrace.

He said: 'It will help bring back vibrancy to the Somerset end of Orchard Road and give visitors greater choices in a stylish new hangout steeped in local history.'

Indeed, the 17 shophouses' historic Peranakan facade will be restored, and the area will feature a variety of new faces. Restaurants like fine-grill restaurant and bar Bobby's, Mexican restaurant VivaMexico, and Japanese fine-dining restaurant Hibiki, will offer cuisines from around the globe. Popular bar Harry's will also set up shop there in a bid to boost its presence in the area, said Harry's Holdings' chief executive officer Mohan Mulani.

Said Mr Mulani: 'We just wanted to be somewhere at the lower end of Orchard Road. We think we're not represented in the neighbourhood.'

There is currently a Harry's bar in Orchard Towers and also one in Far East Shopping Centre. Stalwart tenants, such as North Indian restaurant Maharajah and fusion eatery Cross Straits, which have been serving diners there for more than two decades, will remain.

Also staying on are Cable Car Bar and Japanese restaurant Tamaya, which has a bar and private rooms with karaoke machines. Both have been there for nearly ten years.

Said Mr Oh Ichikawa, managing director of Sential Jobs, which owns Cable Car Bar and Tamaya: 'We are here because of the prime location.

Meanwhile, the nearby Killiney Post Office is going through a revamp of its own. A new dining- and champagne-bar concept by the Imaginings Group - which runs bars such as Balaclava, Wala Wala and Bar-Stop - is in the works and is expected to open before Christmas.

滨海湾金融中心添大租户 必和必拓、麦格理与Murex东南亚将入驻

Source : 《联合早报》September 11, 2008

继渣打银行和星展集团等银行进驻后,滨海湾金融中心(MBFC)又迎来新租户——这回是来自澳大利亚的必和必拓(BHP Billiton)集团和麦格理集团(Macquarie),还有软件公司Murex东南亚私人有限公司。


滨海湾金融中心的第一期工程(包括第一和第二商业大楼),在2010年第二季竣工。第二期的第三商业大楼,料2012年第二季竣工。从左至右(顺时针方向):滨海湾居(Marina Bay Residences)、第三大楼、第二大楼和第一大楼。

这三家公司分别是在第二座商业大楼(Tower 2)租下14万2000平方英尺、7万4000平方英尺和2万5000平方英尺的办公楼楼面。


据了解,麦格理有意扩充在本地的业务。新加坡也是麦格理的东南亚业务中心。麦格理目前在首都广场(Capital Square)租下约4万平方英尺的楼面,并打算进一步扩充业务,包括刚签下的新楼面。麦格理的业务单位众多,所有的业务单位在本地都有代表。


高纬物业新加坡董事经理韩永利认为,必和必拓目前在资金大厦(Capital Tower)和春叶大厦都有办事处,除非扩充业务,否则可能会进行整合,将所有业务集中在一个屋檐下。


负责为这个项目进行行销工作的是世邦魏理仕(CBRE)。其办公服务执行董事莫利·阿姆斯特朗(Moray Armstrong)说,虽然在过去几个月,市场的整体节奏都放慢了,但滨海湾金融中心还迎来了新客户,显示市场对高素质办公楼的需求仍在。




目前,第二商业大楼已预租出45%楼面,但还没有一个集团在这座大楼租下超过一半的楼面,成为这里的主要租户(anchor tenant)。