30 Dec, 2010
WongPartnership, McGraw-Hill and Ashurst LLP sign leases at MBFC Tower 3, signalling good pre-commitment level a year before completion
Singapore, 30 December 2010 – Marina Bay Financial Centre (MBFC), Singapore’s single largest integrated mixed-use development in the new downtown, has further reinforced its position as one of the leading business and financial centres in Asia. More than a year ahead of completion, MBFC has achieved a new pre-commitment level of over 66% for its Tower 3, under Phase Two of its development.
On the back of rising demand for Grade A commercial office space, the new lease agreements were inked with global education and financial information company McGraw-Hill, as well as law firms Ashurst LLP and WongPartnership, with the latter taking up approximately 93,000 square feet.
The combined 145,000 square feet of office space leased marks an 11 percentage point increase for Tower 3’s pre-commitment level in six months.
Mr Wilson Kwong, Chief Executive Officer of Raffles Quay Asset Management (RQAM), the Manager for MBFC, said: “MBFC’s strategic location and premium quality as well as its portfolio of prestigious tenants ensure that it is well positioned to benefit from the strengthening of the office market.”
The distinguished tenant slate at Tower 3 includes anchor tenant DBS which has leased 700,000 square feet for its headquarters, which includes 55,000 square feet for a banking hall and auditorium.
MBFC Tower 3, expected to be completed in 1Q 2012, is a 46-storey building offering about 1.3 million square feet of office space under Phase Two of the MBFC development. Towers 1 and 2 under the first phase of MBFC were fully leased ahead of completion.
RQAM manages MBFC and One Raffles Quay (ORQ), which together host a stellar line-up of companies including American Express, Barclays Capital, BHP Billiton, Macquarie, Murex, Nomura and Prudential at MBFC and Credit Suisse, Deutsche Bank AG, Ernst & Young, Linklaters and Thomson Reuters at ORQ, to name a few.
Occupying a prime waterfront location in the heart of the Marina Bay precinct, MBFC is an exciting lifestyle hub with a seamless integration of residential, business and retail facilities. The recent opening in November of its retail component, the Marina Bay Link Mall, adds to the round-the-clock buzz from surrounding attractions such as the Esplanade Theatres on the Bay and Marina Bay Sands Integrated Resort.
For more information, please contact:
Fiona Teo
Fleishman-Hillard
DID: 6424 6959
Email: Fiona.Teo@fleishman.com
Lester Lim
Director of Marketing Communications
DID: 6309 3560
Email: Lester.lim@rqam.com.sg
Georgina Goh
Director of Marketing, Commercial
DID: 64305 9598
Email: Georgina.goh@rqam.com.sg
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, 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.
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 subsidiary, MCL Land, is a significant developer.
Hongkong Land Holdings Limited is incorporated in Bermuda. It has a premium listing on the London Stock Exchange, and 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, One Raffles Quay and Marina Bay Financial Centre.
The Company is also Asia’s premier home developer with world-class iconic waterfront residences such as Reflections at Keppel Bay, Marina Bay Residences and Marina Bay Suites in Singapore. Keppel Land has received several Green Mark awards by Singapore’s Building and Construction Authority for its commercial and residential developments in Singapore and overseas. In Singapore, these include Ocean Financial Centre (Platinum), Madison Residences (Gold), Reflections at Keppel Bay (Gold), Sixth Avenue Residences (Gold), The Promont (Gold) and The Tresor (Gold). Keppel Land’s development The Estella in Ho Chi Minh City is also the first development to receive the Green Mark Gold award in Vietnam.
Keppel Land has also garnered several FIABCI awards for its developments including Prudential Tower (Office Category – 2004) and Caribbean at Keppel Bay (Residential category – 2006).