Economic Overview:

  • GDP growth rate projected at 6.8% in 2019
  • Population estimated to reach 16.3m in 2019
  • The construction sector grew by 18.1% in 2018
  • Total volume of international tourists increased by 11.5% in 2018

Residential Market Overview

  • Total completed condominium stock to rise by circa 120%
  • Concerns of oversaturation in high-end and mid-range sectors persist
  • Serviced apartment sector to maintain healthy performance, on the back of relatively low supply levels

Office Market Overview

  • Centrally-owned office stock to reach circa 394,605 sqm by end 2019 and 409,785 sqm before 2012
  • Strata-title office stock influx begins

Retail Market Overview

  • 543,653 sqm of retail stock by Q4 2019
  • Expansion focused on suburban districts
  • Community mall stock influx, with 6 new projects set to complete in 2019
  • More international brands entering the market, spearheaded by F&B operators

Industrial Market Overview

  • Infrastructure development expected to catalyze growth in the logistics sector
  • Industrial vacancy to remain low
  • Rental rates are expected to increase due to lack of supply