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Singapore's prime office market can be read as a run of dates, from the low point of the pandemic to a cluster of tower completions in 2028. Stacked Homes laid out that sequence in an article of 13 October 2026, which compares Singapore with Hong Kong and concludes that the pair have settled into complementary roles, with Hong Kong as the conduit for mainland Chinese capital and Singapore as a regional base for technology and AI companies.
The story starts in the Covid-19 years, when overall office rents dropped by about 10%, according to Stacked Homes. Prime CBD rents reached their trough in 1Q2021 and have climbed in the years since. The next marker came in 2024, when IOI Central Boulevard Towers opened; the added floor space did not halt the upward trend, and Stacked Homes notes that no major Grade A tower has opened in the CBD after that year.
The quarters of 2026 carry the sharpest figures. A research house cited by Stacked Homes recorded core CBD Grade A rents up 1.9% quarter on quarter in 2Q2026 and 1.8% in 3Q2026, leaving them 6.1% above their level twelve months earlier. Vacancy in that segment eased from 3.3% in 2Q2026 to 2.7% in 3Q2026. Across fringe Grade A, core CBD Grade B and fringe Grade B space, the same research house logged year-on-year rent growth of 5% to 9%, varying by segment. Over the same period, the Ministry of Manpower's July business expectations poll described the labour-market outlook as "positive but cautious", as cited by Stacked Homes.
The forward calendar is where the timeline turns from history to scheduled events. Newport Tower is due for completion in 2027, Stacked Homes reported, followed in 2028 by The Clifford, The Skywaters and One Comcentre. The research house cited in the article links the 2026 rental gains more closely to this thin supply window than to any jump in demand, and it sees no structural deterioration in leasing, even as occupiers assess their space needs with care.
Tenant movement fills the gap between those dates. Technology firms and non-bank financial companies, including fintechs, account for most first-time occupiers, according to Stacked Homes, and many begin in flexible co-working space before trading up to higher-quality premises. OpenAI, for one, is reportedly relocating from co-working space into the newly completed Shaw Tower on about 100,000 sq ft, Stacked Homes reported.
Hong Kong's own sequence runs differently. Prime rents there rose 1.3% quarter on quarter in 2Q2026 yet stayed 42.7% below their 1Q2019 peak, according to Stacked Homes, while Central's Triple A space recorded a 15.0% year-on-year gain that a research house linked to financial institutions taking premium Central offices.
North of the city, Woods Square is a completed office and retail community at 12 Woodlands Square in District 25, part of the Woodlands Regional Centre, on a 99-year leasehold from 15 July 2014 and granted TOP / CSC on 5 February 2020. Developed by Far East Organization with Far East Orchard Ltd and Sekisui House, it connects to Causeway Point and Woodlands MRT Interchange. Tower 1 offers 16 storeys of strata offices from 549 sq ft, Tower 2 is a 12-storey leasing tower, and two 4-storey SOLO loft towers hold offices of approximately 721 to 1,453 sq ft, with retail, F&B and childcare. Links are mapped on the location page.
To arrange a viewing or receive the list of available strata units, write to the Sales Concierge through the contact form.
Source: Stacked Homes, published 13 October 2026, including figures from a research house cited in the article.
General information only, not financial or legal advice.
Source: Stacked Homes. This article is independent commentary; Woods Square is not affiliated with the parties mentioned.