Singapore’s telecom giant Singtel announced that it is partnering with global real estate group Lendlease to redevelop its Comcentre headquarters into a SGD 3 billion world class sustainable workplace featuring the latest smart building and digital technologies. The redeveloped Comcentre will be designed by a renowned team of architects including New York-based Kohn Pedersen Fox. The development will be a net zero energy development built in line with carbon neutral construction principles.Singtel and Lendlease have agreed to enter into a joint venture for the redevelopment, where Lendlease will subscribe to 49% of the shares of the joint venture company in 2024 and Singtel will hold 51%. The joint venture company will pay SGD 1.63 billion to Singtel for the land cost of the development, in or around 2024. Singtel will be responsible for the differential premium payable on the redevelopment.Lendlease will provide development, construction and ongoing property and asset management services, complementing the digital and technology leadership skills of Singtel.The development is expected to have a total gross floor area in excess of 110,000 square metres, comprising two 20-storey buildings of premium grade/Grade A office space with views of the CBD and surrounding Orchard precinct. At ground level, a large sheltered arcade and vibrant urban space will offer almost 3,000 square metres of F&B, lifestyle and retail space, including Singtel’s new flagship store. The proposed design also includes an elevated rooftop park featuring a 300-person auditorium, a running and walking track and integrated wellness hub.As anchor tenant, Singtel is expected to occupy about 30% of the total space in the new development. The redevelopment’s dynamic people-centric design is focussed on providing a range of inspirational spaces, attractive to the very best talent whilst providing a healthy and digitally enhanced workplace.
Singapore’s telecom giant Singtel announced that it is partnering with global real estate group Lendlease to redevelop its Comcentre headquarters into a SGD 3 billion world class sustainable workplace featuring the latest smart building and digital technologies. The redeveloped Comcentre will be designed by a renowned team of architects including New York-based Kohn Pedersen Fox. The development will be a net zero energy development built in line with carbon neutral construction principles.Singtel and Lendlease have agreed to enter into a joint venture for the redevelopment, where Lendlease will subscribe to 49% of the shares of the joint venture company in 2024 and Singtel will hold 51%. The joint venture company will pay SGD 1.63 billion to Singtel for the land cost of the development, in or around 2024. Singtel will be responsible for the differential premium payable on the redevelopment.Lendlease will provide development, construction and ongoing property and asset management services, complementing the digital and technology leadership skills of Singtel.The development is expected to have a total gross floor area in excess of 110,000 square metres, comprising two 20-storey buildings of premium grade/Grade A office space with views of the CBD and surrounding Orchard precinct. At ground level, a large sheltered arcade and vibrant urban space will offer almost 3,000 square metres of F&B, lifestyle and retail space, including Singtel’s new flagship store. The proposed design also includes an elevated rooftop park featuring a 300-person auditorium, a running and walking track and integrated wellness hub.As anchor tenant, Singtel is expected to occupy about 30% of the total space in the new development. The redevelopment’s dynamic people-centric design is focussed on providing a range of inspirational spaces, attractive to the very best talent whilst providing a healthy and digitally enhanced workplace.
