OFC And 71 Robinson Road Boost Office Market

Source : Asia Property Report, Nov 17, 2007

Singapore’s office market received a big boost with the announcement of two major developments in the CBD. At an unveiling ceremony at its Reflections at Keppel Bay show gallery, Keppel Land unveiled the name and design of Ocean Financial Centre (OFC), a 43-office tower that will provide 850,000sqft of Grade A office space, with floor plates from 19,000-23,000sqft.

To be completed in 2011, OFC will be the fourth building to rise at the same site as the first Ocean Building, built in 1864.

OFC is designed by Pelli Clarke Pelli, whose portfolio includes the Petronas Twin Towers in Kuala Lumpur, Two International Finance Centre in Hong Kong and the World Financial Centre in Beijing. The project will include green features such as the largest solar-panel system and the first hybrid chilled-water system in Singapore.

“The design is environmentally sustainable,” said Cesar Pelli, Senior Principal of Pelli Clarke Pelli. “OFC will include a landscaped public plaza covered by a glass roof canopy and surrounded by extensive green walls, leafy roof terraces and a sky garden. The development will be a beautiful addition to the skyline of Singapore.”

Meanwhile, Kajima Overseas Asia and Lehman Brothers have unveiled 71 Robinson Road, which will offer 280,000sqft of Grade A office space when completed in the second quarter of 2009.

Masao Hashimoto, Kajima’s Vice Managing Director, said construction of the 15-storey tower, offering column-free 20,000sqft floor plates, will be fast-tracked to meet the increasing demand from global banks and financial institutions wishing to establish or expand operations in Singapore.

“The development will offer significant relief amid a current environment of less than 1.65% vacancy rates for prime Grade A space, while offering the purpose-built trading floors and superior connectivity favoured by international banking and financial institutions,” Hashimoto said.