Singapore the cheapest financial center for office rents

Singapore is the cheapest major financial center in which to rent office space, according to a study, making the city-state more attractive to business start-ups.

The study, published by consultants Colliers International, put Singapore's average annual office rent at US$53.71 (S$75) per square foot, far below nearby Hong Kong at US$161.14 ($225).

Though the pace has slowed recently, Singapore's office rental costs have continued to decrease. The first stage of the new Marina Bay Financial Centre (1.6 million square feet) is already fully leased, and another 6 million square feet of space is planned for the Central Business District.

Although Singapore's position on the list was 24th most expensive, it remains cheaper than any other city regarded as a major financial center. The top three positions were filled by Hong Kong, Tokyo, and London's West End.

article & source: channelnewsasia.com

Can Hong Kong stay relevant as mainland China rises?

Shanghai's economic rise might leave corporate powers wondering why they need Hong Kong as a gateway to China, says BusinessWeek.

Shanghai's economy is now larger than Hong Kong's, for the first time in three decades. While Hong Kong's per capita GDP is still nearly three times that of Shanghai, if mainland China continues to follow its current trajectory, Shanghai's population of 19 million will match it in the long term. Even Shenzhen, near the border, is attracting investment that once would have gone instantly to Hong Kong. Can Hong Kong maintain its relevance as a stepping stone when money can go instantly to the source?

There are caveats of course, and still many reasons to prefer Hong Kong. But the writer wonders whether Hong Kong's economic and relative political freedoms might eventually make it a better haven for entrepreneurs, letting other cities handle big business.

article & source: BusinessWeek

Singapore is World's Best Airport

Asian airports have shone in the 2010 Skytrax World Airport Awards, taking out six of the top 10 places and all of the top three, with Singapore's Changi Airport returning to World No.1.

South Korea's Incheon International and Hong Kong International took the silver and bronze places respectively. Kuala Lumpur came 5th, Beijing 8th and Bangkok 10th.

The World Airport Awards™ are based on the results from 9.8 million questionnaires completed by airline passengers in 2009/2010, covering more than 210 airports worldwide. The survey evaluates traveller experiences across 39 different airport service and product factors -  from check-in, arrivals, transfer through to departure at the gate. 


source: Skytrax