HSBC Singapore has announced that it will be relocating its head office to Marina Bay Financial Centre (MBFC) Tower 2 from its current premises at HSBC Building, This is to accommodate the company’s rapid growth plans. HSBC Singapore will occupy about 140,000 sq ft over the top floors of the 50-storey building. Fit-out work is expected to start in the second half of 2019, with target occupation by...
Keppel REIT will buy a one-third stake in Marina Bay Financial Centre (MBFC) Tower 3 for S$1.25 billion from Keppel Land, in one of the largest property market deals this year. The price, which works out to around S$2,790 per square foot, is based on independent valuations by property consultancies Cushman & Wakefield and Savills. Keppel REIT will pay for the property through a mix of cash and new units...
Raffles Quay Asset Management said it is confident of filling up the rest of the office space at Marina Bay Financial Centre Tower 3, as well as sell the remaining units of luxury apartments at Marina Bay Suites -- despite uncertainties in the global economy and the property cooling measures announced in January 2013. About 88 per cent of the 221 units at Marina Bay Suites have been sold so far. While...
DBS Group on Monday announced plans to acquire a stake in Marina Bay Financial Centre Tower 3 (MBFC), where the bank's headquarters is located. In a filing with the Singapore Exchange, the bank said it will pay S$1.035 billion for a 30 per cent share in Central Boulevard Development Pte Ltd - a joint venture of Cheung Kong (Holdings) Ltd and Hutchison Whampoa Ltd. DBS also has an option to take up...
Raffles Quay Asset Management (RQAM) on Thursday said it has achieved a commitment level of over 70 per cent for its Marina Bay Financial Centre (MBFC) Tower 3. In a statement, RQAM added that it has signed on new tenants, including Mead Johnson, Berge Bulk, Clifford Capital and Clyde & Co. These new tenants, from industries such as shipping, financial investment, legal, and paediatric nutrition will...
Three new tenants are taking up space at the Tower 3 of Marina Bay Financial Centre (MBFC). According to a news release, the three are mining group Rio Tinto, Fitness First and The Regus Group. They will collectively occupy a total of 75,000 square feet of the 46-storey tower. Mining giant Rio Tinto will occupy one-and-a-half floors totalling 46,000 square feet when it moves its Singapore staff to MBFC...
The upcoming Marina Bay Financial Centre (MBFC) Tower 3 has been 60 per cent leased with talks ongoing that could see the rest of the space taken before next year's opening. The confirmed tenants of MBFC's Tower 3 are DBS Group Holdings, McGraw-Hill, and law firms Ashurst, Clifford Chance and WongPartnership. Raffles Quay Asset Management, which manages and markets the property, has a few prospective...
The Marina Bay Financial Centre has received pre-commitment for over 66 per cent of the space in Tower 3, a year ahead of its completion, its manager Raffles Quay Asset Management said yesterday. The new lease agreements were inked with McGraw-Hill, as well as law firms Ashurst LLP and WongPartnership. DBS had previously signed for 700,000 sq ft as the anchor tenant of Tower 3. Tower 1 is fully leased to...
Marina Bay Financial Centre (MBFC) has received pre-commitment for over 66 per cent of space in Tower 3, a year ahead of its completion. Raffles Quay Asset Management, the asset manager of MBFC, said on Thursday the commitments have risen 11 per cent from 6 months ago. The new lease agreements were inked with McGraw-Hill, as well as law firms Ashurst LLP and WongPartnership. DBS had previously signed up...
Keppel Land expects to book a larger profit of about S$394 million from its Marina Bay divestment, following a positive advance ruling from the tax authorities. In a filing on the Singapore Exchange, the developer said that the Inland Revenue Authority of Singapore has confirmed it would treat the divestment as capital gain, which is not taxable. This means that Keppel's profit from the divestment will...
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