To read this full article you need to be subscribed to Newsline.
Sign in Sign up for a FREE subscriptionSingtel partners with Lendlease for $2.2b redevelopment HQ
Singtel has plans to partner with Lendlease to redevelop its Comcentre headquarters into a S$3 billion ($2.2 billion) world-class sustainable workplace featuring the latest smart building and digital technologies.
Lendlease will subscribe to 49 percent of the shares of the joint venture company in 2024 and Singtel will hold 51 percent. The joint venture company will pay S$1.63 billion ($tk 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.
The development is expected to have a total gross floor area in excess of 110,000 square meters (1.2 million square feet), comprising two 20-story 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 meters (32,292 square feet) of F&B, lifestyle and retail space, including
