For institutional fund strategies, Marina Bay carries the strongest investor flag in Singapore, with prime yields around 3.6%.

  • Trophy submarket (Marina Bay) carries the strongest investor flag.
  • Prime yield: 3.6%.
  • Core funds buy income; value-add buys repositioning of secondary stock.
  • Cap-rate spread between trophy and secondary has widened post-2022.

Singapore office fund strategy and flag

For institutional fund strategies, Marina Bay carries the strongest investor flag in Singapore, with prime yields around 3.6%.

TL;DR

  • Trophy submarket (Marina Bay) carries the strongest investor flag.
  • Prime yield: 3.6%.
  • Core funds buy income; value-add buys repositioning of secondary stock.
  • Cap-rate spread between trophy and secondary has widened post-2022.

Where core funds buy

Core capital concentrates in trophy stock with long-WAULT income. In Singapore, that's Marina Bay and assets like Marina One, Marina Bay Financial Centre.

Where value-add looks

Value-add capital looks at secondary Class A and convertible Class B with repositioning angle. The trophy/secondary cap-rate spread has widened post-2022, which has reopened the value-add basis for repositioning plays.

Key facts

citySingapore
countrySingapore
regionAPAC
classARentLocal138 SGD/sqft/yr
classARentUsd$102/sqft/yr
vacancy5.4%
typicalLeaseYears4
typicalRentFreeMonths6
submarkets6
primeYieldPct3.6%
primeYield3.6%
trophyAnchorMarina Bay

Frequently asked questions

Where do core funds buy in Singapore?
Trophy submarket — Marina Bay — and the most defensible long-WAULT assets within it.

Editorial provenance

Reviewed by Kenji Watanabe — APAC contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.

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