MBFC,SING SIGN NOMURA TENANT:
To: Business Editor For immediate release
MARINA BAY FINANCIAL CENTRE IN SINGAPORE SIGNS NOMURA AS TENANT: PHASE ONE NOW 79% PRE-COMMITTED
25th January 2010 - Hongkong Land Holdings Limited today announced that Nomura Singapore Limited has signed a 12-year lease for 102,000 sq. ft of space in the Marina Bay Financial Centre ('MBFC'), the Group's joint venture development in Singapore. Nomura will occupy levels 34 to 37 of Tower Two, beginning in 2011.
The Japanese group joins a growing list of major financial institutions and prominent corporations, including Standard Chartered Bank, DBS Group, BHP Billiton and Macquarie Group, which have been attracted by the development's high quality and prime location as well as the reputation of the developers. MBFC is being developed by a consortium comprising Hongkong Land, Cheung Kong (Holdings) Ltd / Hutchison Whampoa and Keppel Land.
"The announcement demonstrates the strong momentum behind MBFC, which has been evident since the first tenants made commitments in 2007," said Hongkong Land's Chief Executive, Y K Pang. "It proves that Marina Bay is rapidly cementing its position as Singapore's new Central Business District. It also demonstrates confidence in the prospects for Singapore, whose economy is recovering from the effects of the financial downturn."
With the new lease, the commercial space of MBFC Phase One, consisting of two towers, is now approximately 79% pre-committed. The first tower completing in the first half of 2010 is 100% let. The second tower, which is 50-storey high with approximately one million sq. ft of Grade A office space, is 66% pre-committed. Phase One of MBFC also comprises the Marina Bay Residences and 93,800 sq. ft of retail space. It is scheduled for completion in 2010.
Hongkong Land is one of Asia's leading property investment, management and development groups with premium commercial and residential developments throughout the region. The Group owns and manages some five million sq. ft of commercial space in Hong Kong that defines the CBD, while in Singapore it has a number of major developments. Its 77%-owned affiliate, MCL Land, is a Singapore-listed residential developer. Hongkong Land Holdings Limited is incorporated in Bermuda and its shares are listed in London, Bermuda and Singapore. It is a member of the Jardine Matheson Group.
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For further information, please contact:
Hongkong Land Limited
Geoffrey Brown (852) 2842 8138
GolinHarris
Sue So (852) 2501 7984
This and other Group announcements can be accessed through the Internet at 'www.hkland.com'.
This information is provided by RNS
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