Changi City to merge work, play

Changi City to merge work, play

Singapore's largest integrated business park development, Changi City, jointly developed by Ascendas Land (Singapore) and Frasers Centrepoint, the development which spans 4.7 hectares will include three-storey retail mall Changi City Point, a 313-room hotel by Frasers Hospitality and Ascendas' business space tower, ONE@Changi City.

The development's retail component, Changi City Point - which was soft-opened on Nov 4 last year - follows a garden-themed concept and comprises a total net lettable area of 207,000 square feet (sq ft) as well as a 450-seater rooftop arena for performances and other activities.

So far, take up in the mall has been promising with around 96 per cent of the retail space already leased out to tenants such as Cold Storage, Koufu, Gain City, Bagus, Nike, Challenger and Tung Lok Signatures.

On the business front, ONE@Changi City features a total net lettable floor area of 650,000 sq ft straddled across nine storeys, of which 315,000 sq ft has already been snapped up by anchor tenant Credit Suisse.

For now, average rents for the business space range somewhere between $4 to $5 per square foot (psf).

The business space tower and hotel arm (which has yet to be named) are slated for completion sometime in the fourth and third quarter of this year respectively.

Source: Business Times – 11 April 2012