CapitaGreen marks topping-out milestone with aggregate 21% leasing commitment
Iconic Grade A office development on track to complete by year-end
Singapore, 2 July 2014– CapitaLand, CapitaCommercial Trust, and Mitsubishi Estate Asia, the joint venture partners for the development of CapitaGreen, celebrated the topping-out of the iconic 40-storey tall premium Grade A office building located in the heart of the Central Business District (CBD) today. The ceremony was officiated by Guest-of-Honour Mr Khaw Boon Wan, the Minister for National Development. The Guest-of-Honour, representatives from the joint venture, main contractor Takenaka Corporation and the design architect Toyo Ito planted nine different plant species in a symbolic topping-out gesture to showcase the plants that will be grown in the building.
Mr Lim Ming Yan, President and Group Chief Executive Officer of CapitaLand said, “We are delighted that CapitaGreen is on track to achieving completion by end 2014. This is made possible by the strong partnership among CapitaLand, CapitaCommercial Trust and Mitsubishi Estate Asia as well as the support and efforts of our consultants, contractors, staff, bankers, investors and government agencies.”
Mr Lim added: “By adopting innovative technologies and design-and-build methodology, we shortened the construction timeline to 36 months from the industry average minimum of 40 months it would take to complete a building of this scale using conventional construction methods. We are able to do so by streamlining work processes to enhance productivity and efficiency. Today, we are honoured to be joined by Minister Khaw, our valued partners, tenants and prospective tenants, consultants and staff as we witness the topping-out of CapitaGreen – bringing us a step closer to the birth of a new landmark in the heart of Singapore’s financial district.”
CapitaGreen is constructed using the efficient top-down construction method which allows for the building’s basement and superstructure to be built concurrently. This method also eliminates the need for temporary steel struts for basement construction as the floor slabs are designed to support the basement walls, thus saving time and resources.
Despite challenges such as a tight site and proximity to the East-West and Downtown MRT tunnels, further time savings are reaped through innovation in the choice of construction methods, materials and equipment. For instance, for the first time in Singapore, extra-large, 3.5-metre diameter bored piles are used and this has made critical foundation work more efficient and mitigated the risk of impact to the MRT tunnels. CapitaGreen is also Singapore’s first building under development to use “supercrete”, a special grade 100 ultra-high strength concrete which significantly reduces the amount of concrete needed, resulting in energy and manpower savings. This “supercrete” was utilised for 29 columns per floor across six floors of the building. The use of an ingenious hybrid of steel and precast construction technology, coupled with extensive training of the workers, has helped to reduce the typical floor cycle time to six days per floor, from a nineday cycle usually expected in conventional construction. This also resulted in a neater, cleaner and safer working environment and enhanced ease of construction.
Mr Wen Khai Meng, Chief Executive Officer of CapitaLand Singapore said, “When completed, CapitaGreen will be an attractive location for businesses with its ultra-modern, premium Grade A office specifications, complemented by lush greenery, universal design and green features. In addition to 700,000 square feet of superior office space, CapitaGreen will offer a myriad of facilities for tenants and visitors, including a sky garden and restaurant on the top floor, as well as a gym and swimming pool on level 38. Sculptures by world-renowned artists are tastefully integrated throughout the development to enhance way-finding and add aesthetic value to their immediate surroundings. Tenants will also get to enjoy the convenience of the nearby Raffles Place and Telok Ayer MRT stations and ease of accessibility to major expressways.”
Ms Lynette Leong, Chief Executive Officer of CapitaCommercial Trust Management Limited, said, “We are pleased that CapitaGreen has achieved aggregate leasing commitment for 150,800 square feet to-date, translating to 21% of the building’s net lettable area. The tenants are multinational companies which include Cargill, Bordier & Cie, Jardine Lloyd Thompson, Jones Day and an international gym operator. Given that CapitaGreen is the only new Grade A office development in the CBD completing in the next two years, it is well-positioned to leverage on the limited office supply to progressively attract more tenants.”
Mr. Shojiro Kojima, Managing Director of Mitsubishi Estate Asia said, “CapitaGreen, our first office development in Singapore has made significant construction progress and leasing momentum with commitments from international companies. We have had a good experience working with our esteemed partners, CapitaLand and CapitaCommercial Trust, and are looking forward to seeing this exciting and iconic office addition to Singapore’s CBD skyline.”