SINGAPORE Land Ltd., a property developer and landlord that reported a gain in quarterly profit, said that the market for office space is expected to be ‘weak’ as new buildings are completed here, reported Bloomberg news.
‘The office market is expected to be weak in view of the significant new supply,’ the company said on Friday in a statement, announcing a 41 per cent gain in profit for the three months to Sept 30 of $56.3 million.
‘Retail market rents are expected to soften,’ it said.
‘The market for private homes is showing signs of recovery although the pace is still uncertain,’ the statement added.
Source : Straits Times – 6 Nov 2009
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