Commercial & Industrial — Q3 2025
- Nov 12, 2025
- 1 min read
Updated: Apr 10
Office rents in the Central Region stayed largely flat, dipping just 0.1% quarter-on-quarter, while CBD Grade A rents held steady at S$9.80 psf per month and occupancy eased slightly to 94.8%.
Retail occupancy improved to 93.1% as international arrivals reached 4.5 million, with Orchard and Scotts Road rents inching up 0.5% to S$41.80 psf due to limited new supply and strong tourism.
Industrial rents remained stable at S$2.09 psf, occupancy rose to 89.1%, and the industrial price index climbed 0.6% over the previous quarter.
New office supply remains tight for the rest of 2025 but is expected to increase from 2026 onwards, while about 2.3 million sq ft of new industrial space coming in Q4 may ease pressure.
Tenants continue to prefer newer, sustainable office buildings, retail leasing is driven more by relocations than expansion, and the industrial sector remains supported by regional supply-chain shifts.
Read the full insights here
