Singapore a hotspot for corporate HQs

Singapore is increasingly becoming the regional headquarters for the world's largest firms, bolstering its office market significantly.

According to the Economic Development Board, the city-state hosts the highest number of corporate regional headquarters in a decade, with around 4,200 multinationals established there by 2021. This concentration has led to a dip in the island-wide office vacancy rate to 9.9% by the end of 2023, contrasting with Hong Kong's rising rate of 12.8%.

Factors such as Singapore's business-friendly tax environment, political stability, and strong ties to the U.S. and China make it an attractive destination for multinationals.

Companies like FedEx and Chinese firms such as ByteDance have chosen Singapore to expand into Southeast Asia, and many more are joining the trend, including smaller startups from around the world.

Insights from JLL. Read more here or in the PDF below.

Singapore is a hot spot for corporate HQs.pdf

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