A Promising Future for Raffles Place

Colliers REview Singapore blog - A promising future for Raffles Place

The epicentre of business continues to command a premier position in Singapore's micro-market.

While we’ve seen decentralisation of offices out of the central business district (CBD) in recent times, Raffles Place remains an epicentre of commerce, business and finance, attracting developers and occupiers alike to the commercial heart of Singapore.

Related content: Redefine Singapore’s city skyline – The Arcade at 11 Collyer Quay for sale


Premier position in Singapore micro-market

With a blueprint for the area’s urban transformation already in the works, Raffles Place/New Downtown solidifies its compelling position as the CBD’s most attractive rental rate for new builds and redevelopments. New Premium and Grade A builds are commanding higher rents in Raffles Place/New Downtown than other locations. This bodes well for investors on the hunt for prime city-centre assets.

Colliers REview Singapore blog - A promising future for Raffles Place - New builds command premium rents

Rental growth since 2016: Raffles Place/New Downtown (Premium and Grade A) new builds command higher rents (click to enlarge)


Higher value in the city centre

In simple terms, capital value is a function of long-term and forward-looking rents, occupancy and cost of capital.

Capital values for Premium and Grade A office buildings in the Raffles Place/New Downtown area rose higher than average CBD capital values historically. This could be due to various reasons, such as higher long-term potential growth, higher potential occupancy, or lower cost of capital or borrowing costs, depending on market conditions.

Colliers REview Singapore blog - A promising future for Raffles Place - Higher capital values

Capital values for Raffles Place/New Downtown Premium and Grade A office buildings rose higher than average CBD capital values historically (click to enlarge)


The CBD’s many attractive attributes continue to make it an investment magnet. With many buildings in the area undergoing rejuvenation or redevelopment, the overall built environment will be enhanced, further supporting real estate values and the promising future of Raffles Place.


Colliers REview Singapore blog - A promising future for Raffles Place - 5-year rental uplift infographic

Raffles Place commands premier position in Singapore's micro-market (click to download)


You may also like:



Liked what you read? Subscribe to our mailing list for more thought-pieces on the latest in commercial real estate.


Article enquiries

Contact our Colliers Editorial team here.

Related Experts

John Bin

Senior Manager


View expert

Peggy Tan



Peggy has more than 19 years of experience in the real estate industry. At Colliers International, Peggy provides consultancy and marketing services to property owners and investors, maximizing their returns on investment in high-value properties or developments. She specializes in land and collective sale of residential properties in Singapore. Peggy was awarded the Asia Pacific Outstanding Achievers Award in Year 2007 & 2011, which was presented to Colliers International's top fee generator.

Prior joining Colliers International, Peggy has worked for the Inland Revenue Authority of Singapore, United Overseas Bank - Property Division, Capitaland Residential Limited and Equus Land.

View expert

LingWei Kong



Lingwei has over twelve years’ experiencei n the real estate sector and vast market knowledge of both APAC and EMEA markets (Capital& Leasing Markets).

Prior to Joinning Colliers Singapore, LingWei works in the JLL  Asia Capital Markets team (based in Singapore) and leads the capital markets Core ClientProgram.Through this program, Lingwei works with wider team to create and share client insights and develop effective account plans.The program covers35 top regional clientswith combined AUM over US$217bn, clients including Allianz, ARA, Blackstone,Brookfield, Nuveen, PGIM, and others. Lingwei facilitates personalized and intelligent client conversations and ultimately win more business and growing share of wallet with these core clients. Lingwei also look after the Singapore capital who is actively looking for investment opportunities outside the AP region. Key clients including Hobee, CDL, Far East Org,Keppel Capital, SPH, Guocoland, UIC, UOL, Bright Ruby and many others.

LingWei also worked  with JLL France  Capital Markets team based in Paris and JLL UK Corporate Solutions team   based in London. 

View expert

WeiLeng Tang

Managing Director


I am the Managing Director of Colliers in Singapore.  I am responsible for the growth strategy and direction of the business. We are an enterprising real estate service solutions provider – we are a team of experts advising our clients on their business space requirements, to their property investment choices and decisions, managing and driving their asset performance, as well as advising and valuing their assets.  

My expertise is Capital Markets. I have a wealth of experience in selling buildings, hotels and development land for nearly 30 years. Headhunted from government service, I sold my first office building at 20 Malacca Street at Raffles Place barely one year into my new role. That same relentlessness saw me through many more deals, some bigger others smaller.  I have developed a great network and invested in strong relationships over the years. People very often ask me, what drives you?  That inexplicable joy I see on my clients’ face when I close a deal!

These trusted relationships allowed me to successfully entered into joint ventures with both Capitaland and City Developments Limited (CDL) during my stint on the buy side with Wells Fargo (then Wachovia Real Estate).

Taking on Singapore’s leadership role is a significant career progression for me.  Together with my team of experts, we have multiply our profitability six-folds since 2016. We continue to collaborate with our colleagues across markets to deliver strong results for our shareholders. One of my key focus is to accelerate the success of our people. I mentor, nurture and help them become experts, and I like to see the next generation of leaders emerge amongst them. Having three daughters that are coming of age, I understand my people’s aspirations.

Colliers has given me tremendous space to accelerate my success and I like to accelerate yours too. Connect with me!

View expert