Office: Office market likely remain tenant-driven with landlords emphasizing tenant retention through cost-cutting, asset improvement projects, and lease incentives.
Retail: In Q1 2023, retail malls reported increased in foot traffic and sales due to the recently celebrated New Year and CNY’s festivals, year-end school holidays, and preparation for upcoming Hari Raya’s festive in April.
Industrial: It is notable that there are rising in demand for data centres as well as industrial parks providing an optimistic view for industrial property market in spite of tightening financial conditions and huge incoming supply.
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