7 Apr, 2010
Latest tenants include Barclays Capital and Prudential Asset Management
Singapore, 7 April, 2010 – Barclays Capital, the investment banking division of Barclays Bank PLC, is leasing an additional ten floors at Marina Bay Financial Centre (MBFC), bringing the total amount of space leased to approximately 350,000 sq ft, Raffles Quay Asset Management (RQAM) announced today.
Barclays Capital had earlier committed to lease approximately 100,000 sq ft of space at MBFC’s Tower Two in April 2008. The company has chosen to expand their leasing commitment, and will now occupy 14 floors of the 50-storey Commercial Tower Two for a ten year lease. Barclays Capital will commence occupancy in 1Q 2011.
RQAM also announced that Prudential Asset Management (Singapore) Limited has signed on to lease approximately 37,000 sq ft of space in MBFC’s Tower Two, and will occupy one and a half floors in the mid-rise zone of the tower. Prudential has signed a nine year lease and will take occupancy of the space in 2011.
With the expansion of Barclays Capital and Prudential Asset Management (Singapore) Limited’s sign up, MBFC Tower Two is now fully leased except for a small percentage of space reserved for existing tenants’ expansion. The list of pre-committed tenants at MBFC Tower Two comprises a stellar line up of global names such as BHP Billiton, Macquarie and Nomura.
RQAM CEO Wilson Kwong said: “MBFC has been receiving strong interest from global companies for our Grade A office space. The good pre-commitment levels from well-regarded tenants are testament to MBFC’s offering as ‘Asia’s Best Business Address.'”
“MBFC, with its mixed-use development, offers multinational companies flexible and state-of-the-art office space for those looking to consolidate their operations in one location. We look forward to seeing the ‘Work.Live.Play’ environment taking shape and for tenants, residents and visitors of MBFC to experience this first hand,” Mr Kwong added.
Mr Quek Suan Kiat, Director, Barclays Capital said: “Our existing relationship with the landlord, and the proximity of MBFC Tower Two to our current office space at One Raffles Quay were key factors in our choice of location. We see this consolidation of space as beneficial to our employees and for service delivery to our clients.”
Mr Ted Pull, Chief Executive Officer of Prudential Asset Management (Singapore) Limited also added: “The MBFC development offers us the opportunity to be part of this prestigious business address, with its close proximity to other financial services industry players in the new downtown.”
MBFC will achieve various milestones this year. MBFC Commercial Tower One has attained the Temporary Occupancy Permit (TOP) in March, with Marina Bay Residences attaining TOP within the next two weeks. MBFC Commercial Tower Two will have itstopping out ceremony on 13 April 2010 and its TOP expected in Q3. Over the course of the year, the Work.Live.Play environment will be realised when residents of Marina Bay Residences, tenants of MBFC Towers One and Two, and retailers of Marina Bay Link Mall start to move into the development.
MBFC, Singapore’s first mixed-use development that successfully integrates residential, business, retail and entertainment facilities, will be fully completed in 2012. Those in the area will not only have the convenience ofhaving 176,000 square feet of retail space at their doorsteps, they will also enjoy MBFC’s connectivity, with direct access to two MRT stations via the subterranean mall. In addition, the mall offers tenants an immediate patronage of 64,000 residents and professionals living and working within the MBFC vicinity.
For more information, please contact:
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About Marina Bay Financial Centre
Marina Bay Financial Centre (MBFC) is being developed by a joint venture comprising three of Asia’s most experienced and trusted property developers – Cheung Kong (Holdings) Ltd/Hutchison Whampoa, Hongkong Land and Keppel Land, and managed by Raffles Quay Asset Management (RQAM).
MBFC sits on a prime 3.55 hectare waterfront site at the heart of Singapore’s new downtown. The tenant-centric design of this purpose-built financial centre combines the best in form and function, making it a key draw for businesses and befitting Singapore’s position as a global financial hub.
MBFC offers a breathtaking blend of three distinguished office towers with nearly 3 million sq ft of Grade A office space, two residential towers comprising 649 luxury apartments and penthouses as well as approximately 176,000 sq ft of retail space to meet the daily convenience of our business community and residents.
MBFC achieved the Green Mark Gold for its office towers 1 & 2, Marina Bay Residences and Marina Bay Suites and the Green Mark Gold Plus for its office tower 3 conferred by the Building and Construction Authority of Singapore. This award recognises the efforts made by the developers to encourage sustainable design practices, and makes MBFC one of the few developments to win more than one BCA Green Mark award.
For more information about Asia’s best business address, please visit the MBFC website @ http://www.mbfc.com.sg
About Raffles Quay Asset Management Pte Ltd
Incorporated in 2001, Raffles Quay Asset Management Pte Ltd (RQAM) was established by Cheung Kong (Holdings) Ltd, Hongkong Land and Keppel Land Ltd with the mandate to market and manage One Raffles Quay. Its portfolio has since expanded to include the Marina Bay Financial Centre (MBFC), which stands out together with One Raffles Quay as premium developments in Singapore’s new downtown at Marina Bay.
About Cheung Kong (Holdings) Limited/ Hutchison Whampoa
Cheung Kong (Holdings) Limited is a property development and strategic investment company based in Hong Kong. It is one of the largest property developers in Hong Kong, having developed about one in seven private residences in the territory. The company also owns a large portfolio of commercial, residential and industrial premises in Hong Kong, and is a major developer of the Central District.
In Singapore, Cheung Kong’s residential property portfolio includes Cairnhill Crest, an oasis of tranquillity ensconced in prime district 9, and Costa del Sol, a prestigious east coast marine-themed development.
In terms of commercial property, the Company developed One Raffles Quay in its first joint venture with Keppel Land and Hongkong Land in Singapore.
Cheung Kong is a substantial unit holder in Fortune REIT – which holds 11 retail malls in Hong Kong and was listed on The Singapore Exchange in August 2003 – with a 26.92% stake.
About Hongkong Land
Hongkong Land is one of Asia’s leading property investment, management and development groups. Founded in Hong Kong in 1889, the Group has interests across the region. Hongkong Land’s business is built on partnership, integrity and excellence.
In Hong Kong, the Group owns and manages some five million sq. ft of prime commercial space that defines the heart of the Central Business District. In Singapore, it is helping to create the city-state’s new Central Business District with the expansion of its joint venture portfolio of new developments. Hongkong Land’s properties in these and other Asian centres are recognised as market leaders and house the world’s foremost financial, business and luxury retail names.
Hongkong Land also develops premium residential properties in a number of cities in the region, not least in Singapore where its 77%-owned listed affiliate, MCL Land, is a significant developer. Hongkong Land Holdings Limited is incorporated in Bermuda. Its primary share listing is in London, with secondary listings in Bermuda and Singapore. The Group’s assets and investments are managed from Hong Kong by Hongkong Land Limited. Hongkong Land is a member of the Jardine Matheson Group.
About Keppel Land Limited
Keppel Land Limited is the property arm of the Keppel Group, one of Singapore’s multi-national groups. The Company is one of the largest property companies by total assets on the Singapore Exchange.
One of Asia’s premier property companies, Keppel Land is recognised for its sterling portfolio of quality award-winning residential developments and investment-grade commercial properties, and high standards of corporate governance and transparency.
Keppel Land is geographically diversified in Asia and has a strategic focus on two core businesses of property development and property fund management.
It is a leading prime office developer in Singapore, with landmark developments such as Ocean Financial Centre and Marina Bay Financial Centre in the Central Business District.
The Company is also Asia’s premier home developer with world-class iconic waterfront residences at Keppel Bay and Marina Bay.
Moving into the future, Keppel Land remains focused on becoming the premier developer of choice in Singapore and the region and delivering sustainable earnings to shareholders.