Singapore is building the newly Marina Bay Financial Centre (MBFC), which is sophisticatedly designed not only as one of the global hubs of international business and commerce, but also to make the island city-state become a more happening place to live, work and play.
Sitting on a 360-hectare waterfront site at Marina Bay in the southern tip of Singapore, MBFC offers a breathtaking blend of three office towers that account for a combined 3 million square feet of prime Grade A office space; two residential towers that house 649 luxury apartment units; and Marina Bay Link Mall, the MBFC’s retail component that occupies 176,000 square feet of retail space.
MBFC is being developed by a joint venture of Asia’s three leading property developers – Hong Kong based Cheung Kong (Holdings) Limited/Hutchison Whampoa, Hongkong Land and Singapore’s Keppel Land Limited; and managed by Raffles Quay Asset Management (RQAM).
“Our role is to manage and oversee the MBFC project as well as maintaining the development’s world-class facilities to the highest standards,” Lester Lim, RQAM’s director of Marketing Communications, explains.
He attests that Marina Bay, dubbed one of the Asia’s best business addresses, will position MBFC not only as a property investment haven, “But this Singapore’s largest integrated mixed-use development is also leading its way toward becoming the island city-state’s new downtown.”
A World-class Financial Hub
Singapore’s political stability and strong economy make it possible to build such a giant project as MBFC, which is designed to facilitate the country as the financial capital of Southeast Asia that links to global economic activities.
In fact, Singapore’s economy is positively triggered by global economic activities in various sectors, ranging from financial and medical services to education, information communications, biomedical sciences and research, property and tourism.
The three towers are comprised of the 33-storey Tower 1 encompassing approximately 620,000 square feet office space with 20,000 square feet floorplates, the 50-storey Tower 2 accounting for 1 million square feet office space with 25,000 square feet floorplates; and the 46-storey Tower 3 that includes 1.3 million square feet office space with floorplates ranging from 29,000 to 45,000 square feet.
Among the tenants that have signed the lease are Standard Chartered Bank, American Express, Societe Generale, Baker & McKenzie, Wellington International Management Company, The Macquarie Group, Prudential, Barclays Capital, DBS Bank, and more.
The topping out ceremony on September 28, 2011 marked the completion of Tower 3. “This means that new downtown at Marina Bay is set to double the existing Grade A office space at Raffles,” Lester remarks, referring to the fact that MBFC is now Singapore’s largest provider of prime Grade A office space.
Exclusive Waterfront Living
The two residential towers, Marina Bay Residences and Marina Bay Suites, are equipped with a wide range of modern facilities such as gym, outdoor dining area, terrace with barbecue area, landscape garden, game room, and more.
Almost all of the 428-unit luxury apartment units at the 55-storey Marina Bay Residences are built with open balcony.
Those seeking Marina Bay’s finest living should consider Marina Bay Suites. Surrounded by lush greenery, the 66-storey residential tower that houses 221 apartment units is located in Marina Bay’s most strategic area – destined to become the residential center offering magnificent views of bay, sea and the city.
“The government of Singapore allows foreigners to take a full ownership of their property. We are targeting foreigner buyers. Indonesians have made up a large percentage among foreigners who own properties in Singapore. Owing to its strong currency and healthy economy, the island city-state is indeed one of the world’s great destinations for property investment,” Thomas Tan, head of Residential Marketing at RQAM, says.
Both Thomas and Lester were in a recent trip to Jakarta sharing their views about MBFC and their optimism about the development.
“Aside from featuring a waterfront living, we are also building Marina Bay Link Mall. Scheduled to start operation in 2012, this 176,000 square feet subterranean mall is interconnected via the MBFC office towers,” Thomas explains.
Adding to Thomas’s assertion, Lester recalls the last year’s opening of Marina Bay Sands Integrated Resort, which is located within the proximity of MBFC. The resort features various entertainments, attractions, as well as gastronomic indulgence and shopping centers, an art science museum and two theaters. “To sum up, these ‘fun’ elements contribute to MBFC as an exciting place to live, work and play,” Lester asserts while Thomas nods in agreement.
By Aulia R Sungkar. Published in HighEnd Magazine, December 2011 edition.