CBD Grade A rents rose 1.1% as vacancy hit a nine-quarter low.

News Commercial Property Staff Reporter , Singapore Published: 12 minutes ago Photo by Mark Ko via Unsplash Prime office space tightens despite overall gains CBD Grade A rents rose 1.1% as vacancy hit a nine-quarter low.Singapore's CBD Grade A office vacancy excluding new supply fell to 5.

6% in the second quarter of 2026, its lowest level in nine quarters, according to research by JLL.Overall CBD vacancy rose to 6.7% from 6.

3% following the completion of Shaw Tower, which added new office stock.Gross effective rents increased 1.1% quarter on quarter to $12.

19 per square foot (psf) per month, up from 0.5% growth in the first quarter, according to the report.According to JLL, Marina Bay continued to record leasing activity, with IOI Central Boulevard Towers nearing full occupancy.

Recent occupiers completing moves into the district included Databricks, A&O Shearman, Franklin Templeton, and Virtu Financial.In the Shenton Way and Tanjong Pagar sub-market, Keppel South Central took in tenants relocating from 79 Anson Road ahead of its redevelopment, including JTB Singapore, OOCL, and Wan Hai Lines.JLL also said the completion of the Prince Edward Road MRT station and the full Circle Line loop in July 2026 will improve accessibility in the area.

Michael Glancy, country CEO for Singapore and Southeast Asia at JLL, said tenants in sectors including AI, fintech, professional services, and insurance are committing to premium office space ahead of need as the availability of large floor plates narrows.JLL also cited OpenAI's decision to establish its first Applied AI Lab outside the United States in Singapore. The company said the $300m investment will support the hiring of more than 200 specialist AI professionals over the coming years.

The consultancy said Shaw Tower is the only major Grade A office completion in 2026 and is already substantially leased.Newport Tower is expected to be the only non-strata Grade A office completion in 2027, whilst The Skywaters, The Clifford, One Comcentre, and Union Square Central are scheduled for completion in 2028.JLL maintained its forecast for CBD Grade A office rents to grow about 4% in 2026, with cumulative rental growth of around 15% projected through 2030.

Follow the link for more news on JLL Also Read No new Grade A supply through 2027 pushes firms to look beyond CBD JustCo brings ‘the boring office’ to CBD after SGX listing Join Singapore Business Review community Your e-mail address A NOTE FROM SINGAPORE BUSINESS REVIEW The people you want to reach are already in this room. Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website.

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