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Work-from-home remains default arrangement in Singapore’s Phase 3 (HA)

Work-from-home will remain the default arrangement as Singapore transitions out of Phase 2 (Heightened Alert) from 14 June. On Thurs, MOH said that it is essential that transmission risks remain in check by reducing overall footfall and interactions…

Routine testing for workplaces could temporarily nudge up WFH adoption

Frequent Covid-19 testing is being recommended as part of safety protocol in the workplace, and if made mandatory, could tip the scales for employers still reluctant to embrace work-from-home (WFH) arrangements. However, a shift to WFH solely to…

CGS-CIMB ups UOL Group’s TP to $8 on faster residential sales and new contributions from Ang Mo Kio site

CGS-CIMB Research analyst Lock Mun Yee has maintained “add” on UOL Group, which factors in faster residential sales as well as new contributions from the group’s Ang Mo Kio site, which was recently awarded to the group and…

Lendlease Global Commercial REIT to increase stake in Jem for a total of up to $347 mil

The manager of Lendlease Global Commercial REIT (LREIT) has announced that it is increasing its stake in Jem through the acquisition of a 53% stake in Lendlease Jem Partners Fund for $153.1 million, as well as the acquisition…

Investing in strata offices in a post-pandemic world

While residential property transactions remained healthy amid the Covid pandemic, commercial properties were subjected to contractionary pressures, with office rents and prices declining throughout the whole of last year. However, in early 2021, office rental declines began to…

Strong leasing interest for part of StanChart space in MBFC

The asset manager of MBFC has received strong interest from potential tenants for about 200,000 sqft office space that it has been actively marketing in the development’s Tower 1. This is part of the roughly 400,000 sqft currently…

Boosting ventilation a challenge for some small business owners

Fashion retailer Goodluck Bunch is looking to improve ventilation at its store but cracking open the windows to let fresh air in is not the most convenient in the two-storey shophouse in Bali Lane. The windows can be…

Mapletree posts net profit of $1.9 bil for FY20/21

Mapletree Investments has reported a net profit of $1.85 billion for the FY2020/2021 ended Mar, which includes a one-off accounting gain from the deconsolidation of Mapletree Industrial Trust (MINT). The net profit represents a 4% y-o-y growth from…

JustCo signs agreement with Ho Bee Land to manage space at The Metropolis

JustCo has inked an agreement with Ho Bee Land to manage about 35,000 sqft of The Metropolis office space in Buona Vista. The JustCo-managed space, scheduled to open in the first quarter of 2022, will occupy two floors…

Singapore’s Tiga Investments, KKR to acquire co-working office operator The Executive Centre

Singapore-based Tiga Investments has joined with private equity firm KKR to acquire a co-working office operator, The Executive Centre (TEC). The price was not disclosed. TEC is headquartered in Hong Kong. It is an office space provider operating…

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38 people under probe for allegedly breaking Covid-19 rules in Jalan Besar, Paya Lebar

Police are investigating 38 people between the ages of 14 and 39 for allegedly breaking safe-distancing rules in Jalan Besar and Paya Lebar after Singapore went on heightened alert against Covid-19. On Sat, SPF said that during an…

Amazon leads tech invasion of Singapore offices that banks ruled

In the financial mecca of Singapore, a new crowd is flocking to its offices: technology companies. Steadily growing their footprint in recent years, tech behemoths are chipping away at the dominance of banks in the island-state’s CBD. Exemplifying…

Lack of trust among reasons some workers in S’pore told to return to office despite Covid-19 curbs

When Ms Alex, a trainee at a design company, entered her office last week, 11 of her colleagues were there and not wearing masks nor observing social distancing. When she voiced her concerns about the situation, her worries…

Metro sees demand for decentralised offices as companies diversify beyond CBD

Property and retail group Metro Holdings sees demand for decentralised office space as more companies look to establish regional offices in Singapore. While the pandemic has raised questions over the future role of offices, group CEO Yip Hoong…

Open windows, turn off air-con: New guidelines to stem Covid-19 spread in poorly ventilated spaces

If your office does not have a mechanical ventilation system to provide fresh air, you should now open all windows and doors as often as possible. And the air-conditioning should be reduced or turned off when this is…

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11 firms fined for not ensuring work-from-home as default arrangement; authorities to increase workplace inspections

Eleven companies were fined for failing to ensure work-from-home (WFH) as a default arrangement for employees who are able to do so, MOM said on Mon. \It inspected over 530 workplaces for breaches of Safe Mgmt Measures (SMMs)…

Business owners in S’pore asked to declare on-site manpower details: MTI

Business owners have been asked by MTI to provide updates on their on-site staff numbers. This is to enable the Government to monitor the number of people not working from home as Singapore tackles the spread of Covid-19…

Covid-19: Some employees still made to return to workplaces when working from home is first option

Her job in a web design agency could all be done from home, but her bosses still required employees to be in office. While there, her employers were often seen not wearing their masks. As Singapore is in…

LHN revamps 1557 Keppel Road into office and co-living spaces

Before 1557 Keppel Road was revamped into what it is today, employees who worked from the office were used to the warehouse environment they ran operations from — lighted-up lofty ceilings, flanked by four walls without windows. These…

Samsung Hub’s level 9 sells at record S$4,050 psf

The ninth floor of Samsung Hub is being transacted for nearly S$53.1 million or S$4,050 psf on a strata area of 13,110 sqft. This is a record psf price for an office floor in the 999-year leasehold building…

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Strata office floor at GB Building going for $10 mil

A 5,209 sqft office space on the 12th floor of GB Building will be put up for auction by Edmund Tie on May 25 with an opening price of $10 million ($1,919 psf). It is a bank sale.…

COVID-19: 5 people plead guilty to gathering for party; two incidents occurred at the same location

During the pandemic, when large gatherings were not allowed, two separate groups of people went to a unit in Midview City for a 13-person karaoke party and a 40-person birthday party. Five people pleaded guilty to their respective…

Keppel Bay Tower converted into a limited liability partnership

Keppel Bay Tower has been converted into a limited liability partnership following the acquisition by the manager of Keppel REIT. Keppel REIT (Singapore) Trust and Keppel REIT have entered into a limited liability partnership on May 21 to…

Malls, hawker centres and offices lose buzz amid return to tighter Covid-19 rules

Many office buildings and hawker centres lost their usual buzz as Singapore defaulted to working from home under tightened restrictions on Mon. While queues of up to 15 officegoers were seen buying takeaway food at Market Street Interim…

Is it the calm before the storm for office market?

Rentals of office space in Singapore’s central region turned a corner in the first quarter this year. It rose 3.3 per cent q-o-q, versus a 3.5 per cent decline in Q4 2020, data from URA showed. But those…

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Is now a good or bad time to buy hospitality and office REITs?

With Singapore reverting to a “Phase 2 (Heightened Alert)” to curb the spread of COVID-19, the office and hospitality REITs look to be some of the biggest losers in the stock market. As of this article’s writing, the…

Covid-19: Police investigating 70 people found singing, drinking in large gatherings

The police are investigating 47 men and 23 women who were found drinking and singing in three separate gatherings, in a possible breach of Covid-19 safety regulations. SPF said on Sun that on May 7, they were attending…

A new age for office space: What happens to the office market when offices adapt?

With remote working high on the agenda and businesses looking to cut costs, early doomsayers had proclaimed a grim post-pandemic future for offices and their landlords. Yet a recent survey of firms in the APAC by CBRE showed…

IT consultancy Prontastic Group to open Singapore office

IT consultancy firm Prontastic Group will be establishing Prontastic Singapore in response to the growing demand for cybersecurity solutions in SEA. The company’s expansion comes as it expects the cybersecurity market in the region to reach $53.09b (US$40b)…

CapitaLand sees recovery for retail segment head towards pre-COVID levels

CapitaLand’s operational performance continued to improve from 2H 2020 into Q1 2021, with recovery for its retail segment heading towards pre-pandemic levels. Singapore posted an improvement in retail shopper traffic and tenants’ sales in Q1 2021 compared to…

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