The asset manager of Marina Bay Financial Centre said it has received "very strong interest" from prospective tenants for Phase Two of its Marina Bay Financial Centre project. This is when marketing efforts have not yet started for Phase Two. Phase Two includes the Marina Bay Financial Centre Tower 3, which is slated for completion in 2012. Raffles Quay Asset Management said that about 56 per cent of...
Marina Bay Financial Centre
Suntec Real Estate Investment Trust (Suntec REIT) is acquiring a one-third stake in Marina Bay Financial Centre for S$1.5 billion. Under the transaction, Suntec REIT will purchase Marina Bay Financial Centre Tower 1 and 2, the Marina Bay Link Mall and 695 car park lots. The REIT has entered into a conditional share purchase agreement for the property with Choicewide Group Limited, Cavell Limited and...
Property developer Keppel Land plans to sell one-third stake of its Phase One of Marina Bay Financial Centre (MBFC) to K-REIT Asia for about S$1.4 billion. This is part of an asset swap agreement with K-REIT, a real estate investment trust. Under the deal, K-REIT will in turn sell Keppel Towers and GE Tower (KTGE) to Keppel Land for S$573 million. The one-third stake of Marina Bay Financial Centre Phase...
SINGAPORE is helping to shape a new era in Asian finance, thanks to its well-regulated but business-friendly financial regime, said Finance Minister Tharman Shanmugaratnam yesterday. And, as a 'work, live and play' destination, the $4 billion Marina Bay Financial Centre (MBFC) is poised to support Singapore in its next era of growth, he said at the topping-out ceremony for MBFC's 50-storey Tower...
Leasing momentum in the office sector remains strong with an improving economy. Analysts said this has drastically cut the amount of so-called "shadow space" or vacant office space not on the market. In the first half of 2009, shadow space was 550,000 square feet. Now, it's just a tenth of it. Meanwhile, demand for new office space like the Marina Bay Financial Centre has eased concerns of a supply...
NEARLY all of the first phase of the giant Marina Bay Financial Centre (MBFC) has been leased ahead of its completion later this year. Every office suite - with the exception of a small percentage reserved for existing tenants' expansion - is now taken, several months prior to the phase's official completion in the third quarter. Phase 1 consists of commercial Towers One and Two, and has a total office...
Property developer Keppel Land said almost all the rental space available under the first phase at the Marina Bay Financial Centre (MBFC) has been taken up ahead of completion. The space was nearly fully utilised after investment bank, Barclays Capital, committed to leasing ten additional floors at MBFC Commercial Tower Two. This brings the total amount of space it leased to about 350,000 square feet,...
A small percentage of space is reserved for existing tenants' expansion MARINA Bay Financial Centre (MBFC) Tower 2 is close to being fully leased, after a new tenant came on board and an existing one took on more space. Prudential Asset Management (Singapore) will be leasing one and a half floors at the building, which works out to around 37,000 square feet of space. It will move in next year on a...
The S$4-billion Marina Bay Financial Centre mega project is on target despite the global downturn. In a year, phase one of the Marina Bay Link Mall under the Centre will be up and running, with tenants moving into the offices above. Raffles Quay Asset Management (RQAM), who has revealed plans to make the 176,000-square-foot mall a place to "Shop, Dine and Play", said the response rate has been...
The first phase of Marina Bay Financial Centre is now 67 per cent pre-leased ahead of its completion in the second quarter of next year. This phase includes Tower Two and the fully pre-leased Tower One. The latest tenant at the location is Servcorp, a serviced and virtual office provider. In a statement, Raffles Quay Asset management said Servcorp's seven-year lease will start next year. Servcorp will...