Overseas Union Enterprise (OUE) on Friday said its upcoming commercial project at 50 Collyer Quay has to date achieved close to 60 per cent occupancy. Some of its key tenants include Merrill Lynch International Bank, Allen & Overy LLP and Citrix Systems Singapore. The developer also said that it has decided to name the premium Grade A office tower located in the Marina Bay area as "OUE Bayfront". Its...
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Starwood Hotels and Resorts will be the first to open a hotel at Marina Bay's Asia Square, located at Singapore's newest financial district. In a release, Starwood Hotels & Resorts, which owns the Westin brand, said the hotel will be operational end 2013. The hotel, occupying over 300,000 square feet, will offer 306 rooms. The rooms will take up 15 storeys (32nd to 46th floors) of Asia Square Tower...
It’s easy to understand why The Sail is the most actively traded project in the prime Marina Bay area. When the 63-storey Tower Two of the 1,111-unit project was first launched in 2004, units were priced at $900 to $1,000 psf, while the first batch of 100 units released at the 70-storey Tower One a year later averaged $1,080 psf. Today, on the secondary market, owners of units with pool views are asking...
Developers looking at prime Marina Bay land might have to wait until at least 2013. That is when the Government is expected to start releasing 11 parcels of land in step with the completion of infrastructure works in the area. These projects include the Downtown rail line and the Marina Coastal expressway, which will be completed in phases in the next few years, said the Ministry of National Development...
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...
Bank Julius Baer said it has signed an eight-year lease with MGPA for a total of 71,000 square feet of office space in Asia Square's Tower 1. This makes the bank one of the key office tenants of the 43-storey commercial tower. Early last month, the leading Swiss private banking group also announced that it is growing Asia into its second home market. It said it planned to set up a Trust Company in...
It has been suggested before, as early as two years ago, that the new downtown at Marina Bay will eventually be the new Raffles Place. Now it seems the market is actually doing the talk. Almost everyone who does business in the region knows Raffles Place. It is Singapore's premier office district. Over the decades, the mantle of being Singapore's most-sought-after business address has shifted before -...
More than 10 buildings, including One Fullerton and Marina Bay Sands, will support the "i Light Marina Bay" festival which starts this Friday and will last till 7th November. Properties involved will light up using less energy to raise awareness on sustainable urban development. One Fullerton, for example, will switch off selected building facade lights, while Marina Bay Sands will raise air-conditioning...
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...
If you have not realised it by now, Singapore has a new national asset. What made the recent F1 race and the inaugural Youth Olympics Games stand out as a truly memorable experience for participants and spectators alike was not how efficiently the events were organised. Singapore has made efficiency its trademark for many years now, so that was to be expected. Rather, it was the location of the events -...