Singapore – CapitaSpring, the newest 280-metre-tall landmark rising above Singapore’s skyline, has achieved full height, with about 75 percent of the overall construction completed. This puts the 51-storey integrated development, located in the heart of Raffles Place Central Business District (CBD), on track to receive Temporary Occupation Permit in 2H 2021. CapitaSpring is jointly owned by CapitaLand Limited (CapitaLand), CapitaLand Integrated Commercial Trust (CICT) and Mitsubishi Estate Co., Ltd (MEC). To date, about 38 percent of CapitaSpring’s 647,000 square feet of net lettable area (NLA) have been committed. Including leases in advanced negotiations, the development is on track to achieve more than 60 percent commitments by completion.
Mr Tan Yew Chin, CEO, CapitaLand Singapore, said: “CapitaLand and our partners are pleased to achieve topping out for CapitaSpring. This construction milestone is made possible only with the support of the authorities and our staff, consultants, contractors, suppliers and migrant workforce. CapitaSpring represents CapitaLand’s vision for the future of work with fully integrated core-flex solutions, tech-enabled frictionless user experience and community-centric programming. As COVID-19 changes the norms of work, the forward-looking features of CapitaSpring have strengthened the development’s value proposition as a flexible, sustainable and connected workplace ecosystem. Supported by CapitaSpring’s prime CBD location, we are confident that the development will enjoy take up rates similar to or better than CapitaLand’s 79 Robinson Road project in the Tanjong Pagar CBD micro-market, which is on track to reach 90 percent committed occupancy.”
CapitaSpring will offer fully integrated workspace solutions that include the full range of hot desks, meeting facilities, private offices, large enterprise suites and bare shell leases. This will enable it to better support any new, flexible requirements of conventional office tenants as well as the expansion needs of small and medium enterprises in flex spaces. Tenants can also benefit from the flexibility and cost efficiency of a customised workspace solution.