- Changi Business Park (CBP) has sub-par occupancy of 70% as companies in the financial services and technology sectors downsized and offshored IT to India. International Business Park (IBP) has low occupancy of 61% due to poor transportation connectivity and a lack of amenities.
WFH cast a dark shadow over business parks.
- - Read this at SGinvestors.io -
- On a nationwide basis, occupancy for business parks has languished by 8.0ppt to 79.1% over the past three years.
Offshoring IT to India.
- Companies in the financial services and technology sectors have increased outsourcing and offshoring in India.
- - Read this at SGinvestors.io -
- Standard Chartered Bank is moving 16,000 employees in Global Business Services to its new integrated campus in Chennai, India during 2023-25.
- UBS has recently increased senior leadership positions to make India a core technology hub. It has business solution centres in Pune, Hyderabad and Mumbai.
Singapore tightened criteria for employment passes.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Jonathan KOH CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-06-25
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