Daily Cuts - From boomtown to ghost town: the fate of Changi Business Park

12 Jun 2024 11:11AM
13 mins
Built and once dubbed the CBD of the East, the buildings that once housed the back-end offices of tech and banking giants like IBM, AMD and Citigroup are rapidly emptying out of Changi Business Park, with overall vacancy rates reportedly more than doubling over the last three years to almost 40 percent. Lee Sze Teck, Senior Director, Data Analytics, Huttons Group gives Asia First's Hairianto Diman and Justine Moss an analysis on the fate and future of the district.