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On 4 July 2023, the Lease Agreements for Retail Premises Bill ("Bill") had its first reading in Parliament. The Bill seeks to make it mandatory for retail lease contracts to comply with the Code of Conduct for Leasing of Retail Premises in Singapore ("Code").
The Code was issued by the Fair Tenancy Pro Tem Committee in 2021 and was last updated in 2022. It sets out guidelines and principles for landlords and tenants of qualifying retail premises to enable fair and balanced lease negotiations. The full Code is available here.
The Bill serves the following functions:
The introduction of the Bill follows a public consultation on the proposed legislation held by the Ministry of Trade and Industry from 18 July 2022 to 5 August 2022.
While adoption of the Code has thus far been voluntary, the Bill – when passed – will require compliance with the Code's leasing principles. Landlords and tenants of retail premises should thus be aware of their obligations under the Code to ensure compliance.
This Update highlights the key features of the framework set out under the Bill and the Code.
Download the Report Read MoreDespite ongoing economic uncertainty, logistics occupiers in Asia Pacific maintain a positive business outlook for the next three years. Expansionary demand continues, although appetite has weakened slightly compared to 2021, with occupiers shifting their focus toward optimising their operations.
CBRE’s 2023 Asia Pacific Logistics Occupier Survey features insights from more than 120 logistics real estate executives in the region on their business outlook, growth plans, strategic opportunities and concerns for the next three years. Key findings include:
Market Sentiment
Supply Chain
Portfolio Strategy
ESG Considerations
This report was originally published in https://www.cbre.com/insights/reports/2023-asia-pacific-logistics-occupier-survey
Download the Report Read MoreDespite facing lower risks of obsolescence compared to the US and Europe, the office sector in Asia Pacific is not without challenges. Pressure is starting to build on several fronts including elevated vacancy levels, evolving occupier space requirements and impending government legislation .
This report takes a deeper dive into the underlying dynamics and drivers across the APAC region’s major markets and provides a roadmap for asset optimisation.
Read MoreSince 2015, Cushman & Wakefield has been taking the pulse of CRE leaders around the world to understand What Occupiers Want. In our annual survey—conducted in partnership with CoreNet Global External Link—we ask about trends in office location and workplace, perspectives on changes to portfolios, and strategies around policies, procedures and decision-making. Over the past five years alone, we’ve uncovered critical insights about what matters most to occupiers, including sustainability, recruiting tech talent and post-pandemic portfolio transformations. This year, we asked more questions about Environmental, Social and Governance (ESG), and occupiers told us how they’re incorporating meaningful changes across environmental, sustainability and governance standards within their organizations.
Download the Report Read MoreNew hybrid work models implemented on a large scale have created a major shift in the expectations of how the future office should be. Offices are now more intelligent, connected and accommodating to hybrid workers. Occupier organisations are planning to switch to flex office models instead of only choosing traditional leases. The change in office space preference and workplace expectations have posed challenges for landlords in Asia Pacific (AP) to keep up with market demands and to understand occupiers’ priorities.
In this study sponsored by essensys, IDC surveyed 180 leaders from occupier organisations, whose organisations are either using traditional lease or in flexible working spaces, and 180 leaders from office real estate organisations across six markets in AP, to capture their expectations, challenges and plans for future offices.
This InfoBrief then deep dives into Australia as a case study to understand the market demands and opportunities.
The findings provide insights to help landlords in AP understand the changing demands of the office real estate market and help them remain competitive in the office real estate landscape.
Download the Report Read More
