Nomura to take up space at Marina Bay

NOMURA Singapore is joining a growing list of multinational corporations that are taking up space at the new Marina Bay Financial Centre (MBFC).

It has signed a 12-year lease for 102,000 sq ft of space in MBFC’s Tower Two, and will occupy levels 34 to 37 of the 50-storey tower. Nomura will take occupancy of the space next year.

No rental rate was disclosed but a Business Times report earlier indicated that it is slightly below $9 per sq ft a month. This appeared to be high for a space this size but could be due to Nomura planning to begin its lease late – some time after Tower Two is completed, the report said.

The latest tenant brings the total pre-commitment of Tower Two to about 66 per cent, with overall pre-leasing figures for MBFC Towers One and Two at about 79 per cent, said Raffles Quay Asset Management, which manages MBFC.

Standard Chartered Bank, DBS Group, BHP Billiton and Macquarie Group are among the big companies that have taken up leases at MBFC, which is being developed by a consortium comprising Hongkong Land, Cheung Kong/Hutchison Whampoa and Keppel Land.

Raffles Quay chief executive Wilson Kwong said in a statement that MBFC was in discussions with other firms and had received strong leasing interest for commercial space in Towers Two and Three.

The 33-storey Tower One, expected to be completed in the first half of the year, is already fully let, said Hongkong Land in a separate statement.

Phase 1, comprising two tower blocks of Grade A office space, retail space as well as high-end condominium Marina Bay Residences, is scheduled for completion this year. MBFC is expected to be fully developed in 2012.

Source: Straits Times, 26 Jan 2010