SINGAPORE | Marina Bay Financial Center Phase 1 | 804 FT / 245 M | 55 FLOORS

RafflesCity · #1 Posted **Oct 23, 2006, 10:14 AM**

Marina Bay Financial Centre (MBFC)

3 office blocks and 2 residential blocks

Architect - KPF & DCA Architects
Construction - 2006
Completion - 2010
Developer - a consortium comprising Cheung Kong Holdings, Hong Kong Land & Keppel Land

RafflesCity · #2 Posted **Oct 23, 2006, 10:17 AM**

Business and Financial Centre (BFC)

In line with Singapore 's goal to become a global business and financial hub, the BFC is slated for the development of state-of-the-art offices with purpose-built features to cater to the specific needs of business and financial tenants.

Sixty percent of the gross floor area (GFA) of this 3.55 ha development will be set aside for office use, while the remaining 40% GFA will be for complementary uses such as residential and recreation/entertainment facilities.

A flexible approach has been adopted to allow for the phased development of the site, with 244,000 sqm of GFA to be developed under the first phase (to be completed in 2009 – 2010). The total GFA will be 438,000sqm.

The tender for the BFC site broke local property records when it was awarded to the BFC consortium (comprising Keppel Land , HongKong Land and Cheung Kong Holdings) for $4,101 per sqm of GFA. The architects for the project are Kohn Pederson Fox Associates PC ( New York , USA ) and DCA Architects ( Singapore ).

2 pictures of the site in mid-2006 (bounded by the white fence)

Fabb · #3 Posted **Oct 23, 2006, 10:44 AM**

Pure KPF, refined and elegant... but it's starting to be boring. Those forms have been used several times before (NY (Times Square), Seoul (Tehran Road)...)

RafflesCity · #4 Posted **Nov 19, 2006, 2:21 PM**

RafflesCity · #5 Posted **Nov 19, 2006, 2:23 PM**

Construction has commenced.

18 November 2006

hoosier · #6 Posted **Nov 20, 2006, 4:33 PM**

Excellent news!

RafflesCity · #7 Posted **Mar 4, 2007, 11:07 AM**

3 March 2007

Jonas · #8 Posted **Mar 4, 2007, 1:29 PM**

Simple, elegant and top quality. By the time I'll get to Singapore later this year it should be progressed

RafflesCity · #9 Posted **Apr 19, 2007, 3:39 PM**

Stanchart seals S'pore's largest-ever office deal

19 April 07

SINGAPORE'S drive to become a global financial centre took a major step forward yesterday when Standard Chartered signed the biggest office rental deal ever struck here.
The British bank, the latest in a string of international finance giants to expand here, has snapped up 24 floors of the Marina Bay Financial Centre (MBFC), a site some property experts once thought would be a white elephant.

Stanchart's rental deal, including renovations and relocation, is worth $800 million over 12 years starting in 2010 and comes amid a boom in the office rental market that has created shortages of prime office locations.

The 508,298 sq ft of space - just under half the size of VivoCity mall - will make it the biggest in Stanchart's office network across 57 countries.

It sees the deal as a strategic investment in Singapore, said its group executive director, Asia, Mr Kai Nargolwala.

'It demonstrates (our) long-term commitment to our customers and the community here,' said Mr Nargolwala.

Mr Chris Fossick, managing director at Jones Lang LaSalle here, which brokered the deal, said: 'It's a real illustration of how Singapore is developing as a financial hub.'

The bank is the latest to join the space race here. United States investment bank Merrill Lynch said last November that it would lease an entire building at Harbourfront, giving it 200,000 sq ft.

Germany's Deutsche Bank took 280,000 sq ft at One Raffles Quay, making it the single largest tenant. And Swiss bank UBS took up 200,000 sq ft over 10 floors in the same building.

The huge deals, particularly the Stanchart agreement, highlight the turnaround in the office rental sector in the last two years.

The release of the MBFC site for sale was delayed twice in 2003 because developers, battling a slump in demand for office space, feared it would cannibalise demand in the Central Business District.

Now, the booming economy has ignited the office market to the point where there is now a shortage of Grade A space - the top-tier of office space, based on factors such as size, location and amenities - while rents are going through the roof.

In the first quarter of this year, average rents for top- notch office space in Raffles Place climbed nearly 23 per cent to $11.80 per sq ft, according to Jones Lang LaSalle data.

Asking rents at some coveted buildings, including Republic Plaza and 6 Battery Road, are believed to be at record highs of $15 psf or more.

'We are expecting Grade A office rents to rise by another 40 to 50 per cent this year,' said the managing director of consultants Cushman & Wakefield Singapore, Mr Donald Han.

Rental pressure could come as financial institutions increase space in tandem with plans to make Singapore their regional or global base.

Stanchart will use its space in the 33-storey tower one at MBFC to house its front office staff, including local and global businesses. It also plans to hire an additional 2,200 people in the next three years.

The eight office locations it has here will be consolidated into just two or three, with the outlet at 6 Battery Road likely to be one of those retained.

Stanchart is the first tenant to sign up for the MBFC. It also has an option to extend its 12-year lease for a further eight years.

RafflesCity · #10 Posted **Apr 19, 2007, 3:40 PM**

zerokarma · #11 Posted **Apr 19, 2007, 5:59 PM**

The renders look great

RafflesCity · #12 Posted **Jul 27, 2007, 3:16 AM**

21 July 2007

sfguy · #13 Posted **Nov 22, 2007, 10:20 PM**

Simple design, but still nice. This tower looks great in those renders. It will fit right in with The Sail @ Marina Bay and the Marina Bay Sands Hotel.