Office: The office market is expected to remain relatively soft as more businesses have adopted flexible working arrangements since last year, at the start of the first MCO.
Industrial: Growth in the industrial and warehouse sector has been supported by the boom in e-commerce, as consumers turned to online shopping during the movement restriction period, as well as a spike in demand for pharmaceuticals and healthcare products.
Retail: Looking ahead, with the challenging economic outlook expected to persist for the first half of the year, we can expect to see landlords slowly adjust asking rentals in order to attract potential tenants and improve occupancy.
Some tenants are now deciding to accept a lower graded office building while maintaining their size requirement as part of a cost savings strategy.
Mature and sought-after locations will remain the most popular localities for manufacturers or warehouse operators.
Landlords have taken the initiative to continue extending rental rebates on a case-by-case basis.
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