Singapore is increasingly home to the regional headquarters of the world’s biggest firms, a boon for the city state’s office market.

In Asia Pacific, Singapore currently has the largest number of corporate regional headquarters than any time in the past decade, according to the country’s Economic Development Board.

At 17%, Singapore’s corporate tax remains higher than Hong Kong’s 16.5% figure. However, various schemes offered by the former can significantly reduce that figure to 13.5% and under.

“These tax incentives wear off after some time, so multinationals have to also consider other factors in determining the right location,” Tangye says.

Political stability in Singapore, meanwhile, offers corporates certainty for long-term planning, says Chris Archibold, Country Head, Singapore.

“Companies can make decisions for tomorrow with confidence based on today’s government policies, knowing these policies are unlikely to be changed,” says Archibold.