CLD will launch J’den Condo in 2H 2023, a redevelopment of JCube to bring new homes, businesses, recreational facilities and amenities to Jurong Lake District. Details of pricing and units J’Den yet to be revealed.

The pressure of rising fit-out costs across the Asia Pacific region, has been driven by inflation, labour market tightness, and supply chain delays. Singapore holds the highest costs, leading major occupiers to absorb the fit-out costs, in an effort to improve return-to-office rates. Grant Carter, head of project & development services Singapore at Cushman & Wakefield, explains that “cost is clearly a high priority for occupiers, as evidenced by the continued 0.8% q-o-q increase in CBD Grade A office rents in 1Q2023.”

In this digital age, a ‘flight to quality and user experience’ is taking priority. Occupiers are looking to enhance their fit-outs to not only boost collaboration and innovation, but also provide space for individual-focused work. To ensure their spaces are optimized, several key factors should be taken into consideration, including workplace strategy and change implementation, technology, sustainability, and ESG factors.

Although pressure continues to rise, Carter observed early signs of easing fit-out costs. Across the region, costs increased an average of 18% in local currency (7% in US dollar terms). As occupiers further analyse the impacts of new flexible working practices, the hope is that fit-out costs will begin to decrease.