Office leasing activity was stable in Q4 2017, driven by a steady flow of flight to quality moves. Demand was predominantly led by expansions and relocations by tech firms. Domestic financial firms were also active.
The co-working sector remained upbeat as international operators continued to implement aggressive expansion plans, while large domestic players entered new markets across the region.
Previously weak sectors saw signs of stabilisation, with demand from mining companies improving slightly in Australia and selected oil and gas firms upgrading in Singapore.
Occupier strategy continues to evolve, with more tenants adopting workplace strategy and utilising co-working space as part of an overarching focus on improving flexibility, strengthening collaboration and reducing costs.