Commercial Property
Published
Landlords in Singapore's core business district closed out 3Q2026 with less empty space to compete against. A research house cited by Stacked Homes put core CBD Grade A vacancy at 2.7% for the quarter, down from 3.3% three months earlier, in an article Stacked Homes published on 13 October 2026 weighing the Singapore and Hong Kong prime office markets side by side.
Rents moved in step with occupancy. Core CBD Grade A rents climbed 1.8% quarter on quarter in 3Q2026, following 1.9% in 2Q2026, and finished 6.1% higher than a year before, according to the research house cited by Stacked Homes. That same source logged year-on-year growth of 5% to 9% across fringe Grade A, core CBD Grade B and fringe Grade B space, with the spread depending on segment. For an owner who leases space out, the breadth is the notable part: the gains reached well beyond trophy towers.
The research house explained the rise chiefly through scarce new stock rather than a sudden jump in tenant appetite, Stacked Homes reported. The CBD has gone without a major new Grade A tower opening since 2024. Newport Tower is scheduled for 2027, while The Clifford, The Skywaters and One Comcentre are slated for 2028. Until those buildings open, a tenant weighing a move at renewal has a short list of brand-new floors to choose from.
Stacked Homes also traced the path back from the pandemic. Overall office rents fell by about 10% during Covid-19, prime CBD rents found their floor in 1Q2021, and they have risen since, even after IOI Central Boulevard Towers added space in 2024.
Occupiers arriving in Singapore for the first time are mostly technology companies and non-bank financial firms, fintechs among them, Stacked Homes noted. The research house it cites sees no structural weakening in leasing, though occupiers size their requirements with care, and a typical path runs from flexible co-working into better-quality premises. As one example, Stacked Homes reported that OpenAI is reportedly shifting into the newly completed Shaw Tower from co-working space, taking about 100,000 sq ft. The Ministry of Manpower called the labour-market outlook "positive but cautious" in its July business expectations poll, as cited by Stacked Homes.
The broader thesis of the article is that the two financial centres increasingly play different parts: Hong Kong as the gateway for mainland Chinese capital, Singapore as a regional base for technology and AI companies.
For owners weighing a CBD address, Cecil Place sits at 137 Cecil Street in District 1, the CBD Growth Corridor, about four minutes on foot from Telok Ayer MRT and six from Tanjong Pagar MRT. The freehold, 15-storey commercial development by Cecil Pte. Ltd., designed by DP Architects, holds 30 strata units of approximately 1,750 to 3,900 sq ft, two to a floor, plus a roof terrace, across about 10,304 sqm of office, retail and F&B space. It targets BCA Green Mark Platinum / GoldPLUS, and units are on sale. Transport links are set out on the location page.
Floor plans, balance units and viewing slots are available from the Sales Concierge through the enquiry form.
Source: Stacked Homes, 13 October 2026, citing a research house for the rent and vacancy figures.
General information only, not financial or legal advice.
Source: Stacked Homes. This article is independent commentary; CECIL PLACE is not affiliated with the parties mentioned.