According to reports by DTZ, office space in first quarter 2008 continue to increase due to strong demand, especially from financial institutions.

Average monthly rents in Raffles Place business district stood at about $19 per square feet.

Overall occupancy level across the island stood at a healthy 97.1%.

Average monthly rents for business park stood at about $4.20 per square feet.

Office space is likely to remain limited in the next few years, with the opening of the Integrated Resorts.