CapitaLand Group to operate from a single location at Capital Tower in 2015
Decision made after strategic review; reinforces rationale of the organisational changes made earlier this year
Group to operate as an integrated platform for resources to be leveraged and optimised to enhance efficiency, economies of scale and shareholder returns
Singapore, 1 August 2013 – CapitaLand Limited (CapitaLand) announces that it will retain its corporate headquarters at Capital Tower and expand its presence there. The Group's strategic business units in Singapore will relocate to the Grade A office tower in phases between 2014 and 2015. The decision was made after a strategic review of the total office space requirement and available options. It also reinforces the rationale of the organisational changes made in January 2013.
In January 2013, the Group announced its realignment into four main businesses – CapitaLand Singapore, CapitaLand China, CapitaMalls Asia and The Ascott Limited – to sharpen its focus on key markets and further accelerate its growth potential. The Group will operate as an integrated platform at Capital Tower for resources to be leveraged and optimised to enhance efficiency, economies of scale and shareholder returns.
Presently, CapitaLand operates from several locations in Singapore. They include Capital Tower, Robinson Point and AXA Tower which are in Singapore’s Central Business District, and Wilkie Edge on Wilkie Road.
Mr Lim Ming Yan, President & Group CEO, CapitaLand Limited, said: “CapitaLand’s corporate office and business units in Singapore will operate from a single location at Capital Tower by 2015.”
He added: “The objective is to have the entire CapitaLand Group under one roof. This provides a centralised destination for “work, live and play” to integrate the Group as one organisation. Capital Tower will offer a holistic and productive workplace to enhance staff interaction and a sense of belonging for our Singapore-based colleagues.”
The Group’s business units in Singapore will relocate to Capital Tower progressively from 2014. The Group will occupy nine floors, a total of approximately 141,000 square feet (sq ft) of the 52-storey Grade A office building.
Capital Tower is owned by CapitaCommercial Trust, Singapore's first listed commercial real estate investment trust, and managed by CapitaLand. Located above the Tanjong Pagar MRT station, Capital Tower has a net lettable area of approximately 741,000 sq ft. There are retail outlets on the first and ninth storeys of the office tower, as well as China Club, a members-only club with private dining rooms on the top floor. Amenities such as an auditorium, conference room facilities and a fitness centre with a swimming pool are available on the ninth storey. The sky lobby on the 36th floor, which also serves as the transfer floor, offers visitors a panoramic view of the Singapore skyline.
Towards the end of 2013, to maintain its lead position as a premium Grade A office tower, Capital Tower will undergo an upgrading of its technical specifications, ground and mezzanine lobby areas and restrooms. When completed in 2015, there will be a separate concierge for the major tenants of the building and a turnstile system to enhance security access.
Capital Tower is marked by its outstanding architectural and green features. It has won numerous design and construction awards such as Green Mark Platinum Award, Water Efficient Building Award, Energy Efficient Building Award, Construction Excellence Award and Façade Design Excellence Merit Award (Office Category) from the Building and Construction Authority of Singapore, Singapore Institute of Landscape Architects and Singapore Institute of Architects. It has also won international awards like ASEAN Energy Awards and Fiabci Prix d'Excellence.