Raffles Place / Shenton Way / Robinson Road

The Financial Heart. Banking HQs. Institutional Core.

Grade A Rent

S$9.86 avg

Core CBD Vacancy

5.3%

Rent Growth (YoY)

+2.1%

Cap Rate Range

3.25% – 3.80%

District Overview

The historic CBD core with the densest concentration of banking headquarters and financial institutions. CBD Incentive Scheme 2.0 is enabling selective redevelopment of older stock into mixed-use assets, creating value-add opportunities.

URA Master Plan Highlights

CBDI Scheme 2.0 allows up to 25-30% bonus GFA
Mandatory serviced apartment provision in Anson/Cecil
Sustainability Statement required for all proposals
Scheme valid until 06 February 2030

Investment Thesis

The CBDI 2.0 scheme creates a compelling redevelopment opportunity for owners of 20+ year old buildings. Anson and Cecil Street areas offer the most attractive conversion economics, with residential/hotel yield premiums over pure office.

Risk Factors

Development charge costs for intensification
Construction cost inflation affecting project feasibility
Lease expiry timing for conversion projects

Location

1.2842, 103.851

Key Statistics

Grade A RentS$9.86 avg

Core CBD Vacancy5.3%

Rent Growth (YoY)+2.1%

Cap Rate Range3.25% – 3.80%

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