Singapore’s economic outlook for 2016 is modest despite challenges. The finance and insurance sectors are expected to support overall growth, and the manufacturing sector is likely to remain weak. Growth in labor-intensive sectors such as retail and food trades may be hampered due to labor constraints. Hence, office leasing demand is likely to be suppressed.
In addition, there are also supply concerns with a large quantum of new office space expected to come on-stream within the next 12 months. Marina One, DUO, Guoco Tower are just a few of the many upcoming developments in 2016 that might pose as competition to the existing assets held by CapitaLand Commercial Trust (CCT).
Despite that, Lynette Leong, CEO of Capitaland Commercial Trust, reassured shareholders that they are in good hands as CCT has created innovative measures to retain and attract tenants — especially in times like these which call for loyal and trusted ......