Singapore Office / Retail | Lush Dream Home

KEPPEL Land, Cheung Kong (Holdings) and Hongkong Land jointly celebrated the topping out of Tower One at Marina Bay Financial Centre (MBFC) yesterday. National Development Minister Mah Bow Tan was guest of honour at the event.

Tower One achieved a 100 per cent pre-commitment rate when it was launched in 2007. Standard Chartered Bank is an anchor tenant and will be taking up 500,000 sq ft of office space. The 33-storey building will obtain its temporary occupation permit next year.

Towers Two and Three have secured pre-commitment rates of around 45 per cent and 55 per cent respectively. This translates to a pre-commitment rate of 61 per cent for the first two phases of MBFC. Continue reading →

Can new Orchard Road malls thrive despite recession?

Posted on 29 Jul 2009 | Comments Off

Addition of hundreds of new shops will further squeeze retailers’ profits

CAN the three huge new malls on Singapore’s main retail strip thrive despite a limp global economy?

The revamp of Orchard Road, along with two resorts featuring the country’s first casinos opening next year, is part of the government’s plans to make Singapore a regional tourist and shopping mecca and fuel a rebound from its worst recession ever.

But retailers on Orchard Road, which packs some 40 shopping centres into 2.5 kilometres, could struggle for some time.

Locals and tourists are spending less while the addition of hundreds of new shops in nearly a fifth more retail space will further squeeze profits. Continue reading →