Residents of JCube Residence near the Jurong East interim Station will benefit from the convenience of being within the immediate vicinity of a mass transit node. Improved access will also support a higher population density in the Jurong region, boosting the vibrancy of the area.

In the US, in 10 years time, cities are set to be the locations where office availability is highest. This is based on the findings of the Savills Future Office Availability Index which explored trends in office space use, economic growth, demographics, existing and proposed construction, and volume of environmentally friendly office premises.

The Savills Future Office Availability Index has outlined a broad trend that in 10 years time, cities across the US are likely to be where office availability is highest compared to other locations around the globe. Asia Pacific regions, in contrast, are expected to have the lowest figures with excess office supply on track to be lowest along the way.

The index examined how office usage intersects with factors such as projected economic growth, development pipelines, and environmentally friendly office stock. Pre-Covid, San Francisco had one of the lowest office availability rates in the US at 9.5%. In light of the pandemic, as much as 30% of its office space is now vacant or set to return to the market in the near future.

In Singapore, firms in the banking and finance industry have been the first to return to the office, leading the charge, with other companies from Korea, Japan and China also establishing themselves there. Despite this, technology firms have embraced flexible working policies and Singapore’s office environment is leaning more and more towards a hybrid model as employers look to retain millennials and Gen Z staff who value remote working, whilst also trying to reduce rental costs.

The new office supply in Singapore has been stable between 2020 to 2022, and is estimated to reach 3,196,000 sq ft NLA between 2024 and 2028. Nevertheless, the number of spaces available remains tight.

The pandemic has demonstrated that the global office set up is far from uniform, and the US is set to face an increase in office availability. As for Singapore, local authorities are managing the supply of land whilst the narrative is increasingly revolving around a limited supply-driven market.