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PR Newswire
06-05-2014, 10:18 AM
I don't feel comfortable for social media firms taking up prime locations. Bank offices are there for good reasons, but I doubt the needs of social media firms to be there. May be "easy money easy go..." 
Seeking talent, social media firms take up prime locations in CBD
SINGAPORE — Social media companies such as LinkedIn and Facebook are taking office space in the central business district here because they want to attract the best talent, said Mr Chris Archibold, international director and head of markets at property agency Jones Lang LaSalle in Singapore, as the tech giants displace large banks in some prime locations.
Barclays, the second-largest United Kingdom bank by assets, has given up two storeys of prime office space at Tower 2 of the Marina Bay Financial Centre that has been leased to LinkedIn, people familiar with the matter said.
The bank has surrendered about 60,000sqf of office space to the landlord, one of the people said.
Barclays declined to comment. A LinkedIn spokesman declined to comment on the move but said the company has one million users in Singapore and 50 million in the Asia-Pacific region.
Monthly rents at the property are now between S$11 and S$12 per square foot, compared with S$10 and S$11 per square foot when Barclays moved into the building in 2011, said Mr Donald Han, managing director of Chesterton Singapore, a real estate consulting company.
“Social media companies like Facebook and LinkedIn are taking office space in the central business district in Singapore, whereas in other cities, you won’t find them in the CBD,” said Mr Archibold.
The Singapore office of social networking site Twitter is also in the central business district.
...
http://www.todayonline.com/business/seek...ations-cbd
Seeking talent, social media firms take up prime locations in CBD
SINGAPORE — Social media companies such as LinkedIn and Facebook are taking office space in the central business district here because they want to attract the best talent, said Mr Chris Archibold, international director and head of markets at property agency Jones Lang LaSalle in Singapore, as the tech giants displace large banks in some prime locations.
Barclays, the second-largest United Kingdom bank by assets, has given up two storeys of prime office space at Tower 2 of the Marina Bay Financial Centre that has been leased to LinkedIn, people familiar with the matter said.
The bank has surrendered about 60,000sqf of office space to the landlord, one of the people said.
Barclays declined to comment. A LinkedIn spokesman declined to comment on the move but said the company has one million users in Singapore and 50 million in the Asia-Pacific region.
Monthly rents at the property are now between S$11 and S$12 per square foot, compared with S$10 and S$11 per square foot when Barclays moved into the building in 2011, said Mr Donald Han, managing director of Chesterton Singapore, a real estate consulting company.
“Social media companies like Facebook and LinkedIn are taking office space in the central business district in Singapore, whereas in other cities, you won’t find them in the CBD,” said Mr Archibold.
The Singapore office of social networking site Twitter is also in the central business district.
...
http://www.todayonline.com/business/seek...ations-cbd
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