15 May, 2013
Mr Lee Hsien Loong, Prime Minister of Singapore
Mr Davy Chung, Executive Director, Cheung Kong (Holdings)
Mr Robert Garman, Executive Director, Hongkong Land
Mr Ang Wee Gee, Chief Executive Officer, Keppel Land
Honoured guests from our joint venture and shareholders,
Distinguished Guests, Ladies and Gentlemen,
Good afternoon and thank you for joining us on this very special occasion – the Grand Opening of Marina Bay Financial Centre.
After years of planning, building, and development, we are pleased to announce that Marina Bay Financial Centre is now officially complete. Today, this landmark in the New Downtown reinforces Singapore’s position as one of the leading business and financial centres in Asia.
The vision for Marina Bay Financial Centre, or MBFC, took shape early on in the planning stages. The joint venture partners – Cheung Kong Holdings, Hongkong Land and Keppel Land envisioned MBFC as a focal point of Singapore’s new downtown in Marina Bay.
Their foresight has made MBFC into what it is today. The result is a transformation of this prime waterfront location to what is now Singapore’s largest integrated mixed-use development, and I would like to thank our joint venture partners for their vision and commitment to the project. MBFC is a fine example of an international collaboration between three of Asia’s most renowned developers.
Key Features of MBFC
MBFC is also the realisation of the Singapore government’s work-live-play concept for Marina Bay, offering a quality work environment, the best in waterfront living and a variety of dining and shopping options. It has set a new regional standard for integrated mixed-use developments, on par with that of renowned financial centres around the world.
MBFC offers the largest single development of Grade A office space in Marina Bay – with almost three million square feet. Towers 1 and 2 are a hundred percent filled, while the recently opened Tower 3 is well on its way to becoming fully occupied with a commitment level of over 85 percent.
Of the approximately 57,000 people working within the Marina Bay district, 30,000 or about half of them work at MBFC and One Raffles Quay.
Our tenants clearly appreciate the large column-free floor plates in our office towers, a key feature of MBFC’s design and a key requirement of international financial institutions. The buildings are also equipped with environmentally-smart building and design features. MBFC will be connected to four major MRT lines, ensuring ease of transport for our office workers, residents and visitors.
The shift of Singapore’s business district towards Marina Bay is reflected in the makeup of MBFC’s diverse range of tenants. Our tenants represent a variety of sectors from across the business spectrum, ranging from banks such as anchor tenants DBS and Standard Chartered, to companies in the commodities, trading, energy and legal sectors.
This shift also underscores the government’s foresight to develop Marina Bay as the New Downtown and its vision to anchor Singapore as a global business centre.
Work-live-play in the New Downtown
MBFC brings to life the government’s work-live-play concept for Marina Bay, providing not only an excellent environment to work in, but also a place to relax and call home.
Our residential developments Marina Bay Residences and Marina Bay Suites offer the best of waterfront living. Marina Bay Residences was one of the fastest selling residential projects when it was launched and Marina Bay Suites is already 88% sold on completion.
Marina Bay Link Mall offers a wide range of retail and dining options and enjoys brisk patronage by a community of office workers, residents and visitors. The mall’s Ground Plaza is a popular after work gathering spot for people to relax, dine and enjoy the spectacular views of Marina Bay.
Together, these commercial, residential and retail elements in MBFC add an exciting vibrancy to Singapore’s New Downtown.
Setting a New Standard
Today’s ceremony marks more than just the completion of office and residential buildings – MBFC has set a new regional standard for prime Grade A office space and luxury city living.
With your support, we are committed to maintaining and reinforcing MBFC’s position as Asia’s Best Business Address. We will continue to stand out by having the best asset management and facilities management teams in place to ensure that the expectations of all our tenants, residents and visitors are met on a daily basis.
As we celebrate this occasion, I am pleased to announce that Raffles Quay Asset Management will be making a S$1 million donation in total to Singapore’s four universities – Nanyang Technological University, National University of Singapore, Singapore Management University and Singapore University of Technology and Design. This donation will be used to set up RQAM Study Grants to nurture the next generation of business leaders, some of whom will likely work here at MBFC in the future.
Today is an important milestone, and I would like to thank all our partners, without whom this project would not have been possible.
The joint venture consortium of Cheung Kong Holdings, Hongkong Land and Keppel Land. Our MBFC shareholders Keppel REIT, Suntec REIT, and DBS Group Holdings. Thank you for your vision and commitment to ensuring the success of MBFC.
I would also like to thank the Urban Redevelopment Authority and the Land Transport Authority for working closely with us to realise our vision.
To our architects KPF, our many project consultants, contractors and my colleagues at Raffles Quay Asset Management, thank you for your efforts to turn the vision of Marina Bay Financial Centre into reality. Our appreciation also goes out to our valued tenants and home buyers for choosing MBFC.
As Singapore continues to prosper as a key financial centre, we look forward to continue growing together with all of you.
On behalf of Cheung Kong Holdings, Hongkong Land, Keppel Land, Keppel REIT, Suntec REIT, and DBS Group Holdings, thank you for joining us this evening.