Singapore CBD office supply to tighten until 2027

New supply won’t rise again until 2028.

New office supply in the Singapore CBD has exceeded the ten-year average this year, driven by the completion of IOI Central Boulevard Towers.

According to a Cushman and Wakefield report, the CBD office market is expected to face tighter supply from 2025 to 2027, with Shaw Tower’s completion delayed to 2026.

“Amidst consolidations and right - sizing in the market, pockets of secondary office space are anticipated to become available in 2025, though it is largely concentrated in a few developments. While new supply is set to rise again in 2028, available space may be lower due to potential owner-occupied spaces,” the report said.