A clear weekly summary of the developments shaping Singapore’s office market—curated for startups, growing companies and office decision-makers.
Weekly briefing•14 Sep 2026 to 20 Sep 2026
Latest edition
Weekly News
14 Sep 2026 to 20 Sep 2026
Published 20 September 2026 · By Chong Kok Peng, Serviced Office Advisor
From Omnicom consolidating nearly 50,000 sq ft at 51 Merchant Road to IOI Properties completing its S$2.476 billion acquisition of Asia Square Tower 2, major companies and investors continue to demonstrate confidence in Singapore’s office market.
Here are this week’s two key developments—followed by a featured eight-person serviced office at Paya Lebar Quarter.
01
Major occupier · Singapore River
Omnicom Leases Nearly 50,000 Sq Ft at 51 Merchant Road
Global advertising, marketing and sales group Omnicom is reported to have leased close to 50,000 sq ft at 51 Merchant Road, near Clarke Quay MRT.
The space represents approximately three-quarters of the building’s total net lettable area. Omnicom is expected to consolidate teams currently based at Mediapolis and Alexandra Road while retaining a presence at MacDonald House.
51 Merchant Road at a Glance
Main building
Four storeys
Total NLA
Approx. 71,000 sq ft
Heritage
Two rows of conserved shophouses
Connectivity
Clarke Quay MRT
Location
Singapore River
The property was acquired for S$121.8 million by a joint venture between Elevate Capital Group and LaSalle Investment Management.
Why This Lease Matters
Consolidating Multiple Teams
Omnicom’s move appears to be more than a straightforward relocation. Bringing operations from Mediapolis and Alexandra Road into a substantial portion of one building can bring more teams together while retaining a presence at MacDonald House.
A Distinctive Alternative
The transaction shows that major occupiers will consider offices beyond the conventional Grade A towers of Raffles Place and Marina Bay when a property offers scale, character and strong connectivity.
IOI Properties Completes Its Acquisition of Asia Square Tower 2
IOI Properties Singapore has completed its S$2.476 billion acquisition of Asia Square Tower 2.
The acquisition brings two directly connected Marina Bay office developments under IOI Properties Singapore:
Asia Square Tower 2
IOI Central Boulevard Towers
Linked by an elevated pedestrian bridge, the two developments form a strategically clustered premium-office portfolio in Marina Bay.
Asia Square Tower 2 at a Glance
Total space
Approx. 773,460 sq ft
Floor plates
Up to approx. 31,000 sq ft
Occupancy
95.8% at 31 Mar 2026
Connectivity
Shenton Way & Downtown MRT
Sustainability
BCA Green Mark Platinum SLE
Why This Acquisition Matters
A Stronger Marina Bay Presence
IOI Properties now controls two adjoining premium office developments in one of Singapore’s most prestigious business districts.
More Options for Major Occupiers
IOI Central Boulevard Towers offers typical floor plates of approximately 22,000 sq ft, while Asia Square Tower 2 provides floor plates of up to approximately 31,000 sq ft.
Together with South Beach Tower’s approximately 15,000 sq ft floor plates, IOI Properties can accommodate businesses with different space requirements.
Greater Flexibility for Expansion
Companies occupying one IOI property may have more opportunities to expand or restructure their offices within the same landlord’s portfolio.
A Larger Recurring-Income Platform
The acquisition expands IOI Properties Singapore’s investment portfolio to approximately 2.57 million sq ft of net lettable area.
Its wholly owned and controlled Singapore investment assets are valued at around S$10 billion.
Looking for a ready-to-use office for an eight-person team? This private serviced office at Paya Lebar Quarter offers a practical layout, natural light and immediate availability within a major integrated business development.
Capacity
8 people
Size
Approx. 230 sq ft
Monthly rent
S$6,000
Cost per person: Approximately S$750 per month · Availability: Immediate.
With direct access to Paya Lebar MRT and a wide range of retail, dining and lifestyle amenities, the office is suitable for businesses seeking convenience outside the traditional CBD.
