More Office Space in Singapore Increase the Opportunity to Set Up Company in Singaporeby Technology Advice Technical Consultant
Singapore’s commercial central area which is known as the Central Business District (CBD) is containing in itself the financial and commercial districts. It includes 11 urban planning areas. The Urban Redevelopment Authority (URA) of Singapore has defined them as Straits View, Singapore River, Downtown Core, Marina South, Marina East, Museum, Orchard, Newton, River Valley, Rochor, and Outram.
CBD area in Singapore does not include shopping areas, it is purely consists of offices and companies. Business formation in Singapore is increasing because of the availability of office space and affordable rental prices. Corporate houses are showing more interest to set up a Singapore company because of options available in acquiring office space in the heart of CBD.
The Marina Bay Financial District in Singapore is attracting many large MNCs, which is making more office space vacant in the CBD area. An A and A+ graded office in CBD can be acquired in the range of S$7 – S$12 per square foot.
Many financial institutes, insurance companies, banks, and corporate houses have acquired their office space on lease in the Raffle Place, which is considered to be one of the most preferred locations by the corporate houses and entrepreneurs. It is prestigious to have a business presence in this location. More and more corporate houses prefer this area because of the visibility this place provides to their business. One major attractive factor is the flexibility of the term and length of the lease.
If Singapore and Hong Kong are to be compared on the basis of getting office space to incorporate a business, the CBD in Singapore is around 52% cheaper than Hong Kong’s commercial spaces. According to a recent survey Singapore’s rental rates are dipping by about 16%. Hong Kong’s official space rates are considered to be the highest in the region.
Created on Dec 31st 1969 19:00. Viewed 0 times.