Singapore CBD office rents rise 1.0% in Q3

, Singapore This brings rental growth for the first three quarters of 2026 to 2.8%. Singapore's CBD Grade A office market recorded another quarter of rental growth in Q3 2026, with gross effective rents rising 1.0% quarter on quarter, according to JLL Research. The increase brought rental growth for the first three quarters of the year to 2.8%, matching the pace recorded over the same period in 2025. JLL said overall CBD office vacancy fell to its lowest level in 10 quarters, led by strong take-up in Marina Bay. Limited availability of large-format offices has narrowed the rental gap between larger and smaller units as occupiers compete for scarce Grade A space, JLL said. Technology and artificial intelligence companies have been a key source of demand. OpenAI is reportedly in advanced negotiations for about 120,000 sq ft across five floors at the newly completed Shaw Tower, substantially expanding from its current footprint at CapitaSpring. Sierra AI and Manus AI have also reportedly taken space at Keppel South Central. Michael Glancy, country CEO, Singapore and Southeast Asia, at JLL, said AI and technology firms are securing space despite unresolved macroeconomic uncertainty, while Singapore's position as an Asia Pacific technology hub continues to support expansion. JLL said the government's upgrade of Singapore's 2026 GDP growth forecast to 4.5%-5.5%, from 2%-4% previously, has also strengthened the economic backdrop for office demand. JLL maintained its forecast for CBD Grade A rents to rise about 4% over the full year in 2026, with cumulative growth of around 15% projected through 2030. Join Real Estate Asia community Join Real Estate Asia community ...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you design and create an advertising campaign, in print and digital, on this website and in print magazine. We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor. Let us help you drive your business forward with a good partnership!