The Marina Bay area with soaring office towers worth billions of dollars is the most vulnerable, CBRE said. YahooFinance
SINGAPORE - Prime office real estate in Singapore's central business district is highly susceptible to the risk of flooding as sea levels rise due to global warming, property consultants CBRE said in a report on Thursday.
The city-state's Marina Bay area with soaring office towers worth billions of dollars is the most vulnerable, CBRE said. Assuming global temperatures rise by 4 degrees Celsius by the year 2100, an additional 4 million square feet of office area across 13 buildings in the CBD may be under threat, CBRE said.
"While the government has adopted several pre-emptive policies to mitigate the impact, the measures do not completely eradicate the risks."
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