Barclays gives up two stories of prime office space in Singapore

Singapore

Barclays has given up two stories of prime office space in Singapore’s financial district, which has been leased to LinkedIn, people familiar with the matter said.

Bloomberg News reports that Barclays returned about 60,000 square feet (5,575 square meters) at the Tower 2 of Marina Bay Financial Centre to the landlord, one of the people said, asking not to be named because the information is private.

The bank has been shuffling its real estate space in the city-state, where it’s moving employees from suburban offices to the Marina Bay area to cut costs. Monthly rents at the property in the central business district are now S$11 ($8.80) to S$12 ($9.59) a square foot, compared with S$10 ($8) to S$11 per square foot when Barclays moved into the building in 2011, said Donald Han, managing director of Chesterton Singapore Pte, a real estate consulting company.

To access the complete Bloomberg article hit the link below:

Barclays Said to Give Up Singapore Offices for LinkedIn

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