Thursday, July 8, 2010

2 foreign banks lease office space at Keppel Land’s Ocean Financial Centre

Keppel Land says two foreign banks, Australia and New Zealand Banking Group, and BNP Paribas Singapore, plan to lease prime office space at its Ocean Financial Centre.

Keppel Corporation Chairman Choo Chiau Beng announced this at the topping out of the Centre Wednesday.

He says ANZ plans to lease about 209 thousand square feet of office space, while BNP Paribas Singapore plans to lease some 58 thousand square feet of space.

Keppel Land says with the new tenants, Ocean Financial Centre is now about 63 per cent pre-committed, ahead of its completion in the second quarter of 2011.

Mr Choo says the strong pre-commitment levels reinforce the positive sentiments in the office market on the back of a brighter economic outlook.

He adds that Keppel land is well-poised to benefit from this upturn.

Together with its joint venture partners, Keppel Land develops and owns about 7.4 million square feet of office space, predominantly located in the Raffles Place and Marina Bay precincts.

When completed, Ocean Financial Centre will be one of the largest office developments in Raffles Place, providing about 850 thousand square feet of Grade A office space with environmentally responsible features.

Source: Channel News Asia, 7 Jul 2010

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