Singapore's Changi Business Park Is Emptying Out

[rocket]

U point 1 finger at others,3 fingers are pointing at yourself.

Yeah! Dislike this bastard putting others down for the sake of attention.

 

[rocket]

hello u want to insult her don't use me as 挡箭牌 hokay. today i don't wish to engage her on the internet

That is a pappy dog behaviour

 

[k1976]

The Mysterious Hollowing Out of Singapore’s Alternative CBD​

Where did everyone go?
Photographer: Aparna Nori/Bloomberg
By Low De Wei and Ishika Mookerjee
June 8, 2024 at 9:14 AM GMT+8

Pretty Vacant​

A 90-minute commute to the office may not raise eyebrows in New York or London, but in Singapore?

A train ride, a bus journey and a lot of walking brought me to see one of the biggest stand-outs in Singapore’s normally stratospheric property market: the mysteriously emptying Changi Business Park.

From first glance, there is little indication that all is not well. The entrance is a gleaming futuristic station designed by Norman Foster’s architectural firm.

 

[k1976]

But look closer. “For rent” signs dot the park. Behind the slick glass facade of IBM’s two major buildings the rooms are mostly empty, with dust-covered cubicles, and Helen Keller’s quote about “together we can do so much” facing a dark, silent office.

Part of the problem lies in the economy, which is struggling against the headwinds of global trade disputes and China’s property woes. Things may get worse as the economic boost from Taylor Swift fades. Tech and finance layoffs have picked up, and tenants that once flocked to the park are cutting back, pushing vacancy rates close to 40%.

Changi Business Park was once touted as the “CBD of the East,” but in the surprisingly busy cafes and public spaces, employees are grumbling. One complained that it was more expensive to get a good coffee here than downtown. Others moaned about pricey and limited food options, while another told an alarming tale of seeing a large rat jumping across the stall counters in a food court.

Vacant space in the IBM building in Changi Business Park in May.Photographer: Low De Wei/Bloomberg
Many businesses seeking to attract and retain talent, like Chinese tech giant Tencent, continue to cling to offices in the city center, where rents hit a 15-year high this year and buildings are almost full.

 

[k1976]

In Singapore, the push to force companies to hire local staff can make it more attractive for global firms to move some operations overseas.

Yet this may all just be part of Singapore’s continual race to reinvent itself, shifting into new areas as old jobs become redundant. The promise of a new $7.8 billion chip fab, another business park targeting firms in cyber-security and AI, and Hyundai’s new EV plant indicate the way things are heading.

Let’s hope they have decent coffee. —Low De Wei and Krystal Chia
https://www.bloomberg.com/news/news...nant-exodus-spells-trouble?srnd=homepage-asia

 

[oliverlee]

In the past two years, MTI, JTC and ES went to tell businesses that the cost of business spaces will always be high.

We are also slapping manufacturers with ten times higher carbon taxes in six years, they will exit en masse.

Going forward, the whole country just open more casinos, banks and crypto exchanges?

bordellos. Want to be sin city, then go all the way. Don’t be a half fucked CAQ. Come out of the closet

 

[Pinkieslut]

Well that the Sinkie business model, a pure rent seeking economy. Pump rental prices high, let cronies set up eateries in these offices charge first world prices for kopi o and nasi lemak. Win win for them. Hence you think they really care if the white collar workers are locals or FTs? All they care is to have bring in people to fund their rent seeking economy.

 

[k1976]

Well that the Sinkie business model, a pure rent seeking economy. Pump rental prices high, let cronies set up eateries in these offices charge first world prices for kopi o and nasi lemak. Win win for them. Hence you think they really care if the white collar workers are locals or FTs? All they care is to have bring in people to fund their rent seeking economy.

Governemnt is the biggest Land Lord

 

[myfoot123]

Now Chennai Business Park can be renamed to China business park? CECA out CCP in?

 

[dirtywoman]

the word Business and the word Park seems to be at odds. BUSINESS is for making money. PARK is for enjoyment and relaxation.

 

[yubenOh]

Now Chennai Business Park can be renamed to China business park? CECA out CCP in?

Shd just rename CBP to its original intended name of Chee Bye Park.

 

[Pinkieslut]

Shd just rename CBP to its original intended name of Chee Bye Park.

Lets move all the whores from Orchard Towers, Joo Chiat and Geylang to CBP.

 

[k1976]

Lets move all the whores from Orchard Towers, Joo Chiat and Geylang to CBP.

Like that can help to improve tourist arrival de woh

 

[k1976]

Shd just rename CBP to its original intended name of Chee Bye Park.

Alot of pluck pluck sound, can be a noise pollution to SUTD undergraduates study nearby....can be very hard to focus de woh

 

[k1976]

Then SUTD will need to have addition courses eg Sexology and Human Behviour Science, Human Reproduction study etc

 

[cocobobo]

Well that the Sinkie business model, a pure rent seeking economy. Pump rental prices high, let cronies set up eateries in these offices charge first world prices for kopi o and nasi lemak. Win win for them. Hence you think they really care if the white collar workers are locals or FTs? All they care is to have bring in people to fund their rent seeking economy.

True. Why bother with creativity when being landlord lords over others. So many reits all waiting to hammer tenants. Such a stupid, shortsighted strategy.

 

[k1976]

They should turn CBP into a massage haven. Tourists can come straight from airport to massage their tired limbs.

AmsterDam of the East liao
Heng Ong Huat lah

 

[rushifa666]

Pap think they bery smart, retarded rental for monkey ulu place. Every company they name are in cbd. Angmoh not stupid.

 

[myfoot123]

Like that can help to improve tourist arrival de woh

Easy for our law enforcer to manage instead of running all over those places in town. Will bring Singapore billions of tourist revenue surpassing two casinos.

 

[laksaboy]

Now Chennai Business Park can be renamed to China business park? CECA out CCP in?

Forget it. China is going back to how it was in the good old days before Deng Xiaoping.