Marina Bay Financial Centre Marina Bay Financial Centre 17 November - PowerPoint PPT Presentation

Marina Bay Financial Centre Marina Bay Financial Centre 17 November 2006 17 November 2006

Presentation Outline • Introduction – Background – Strategic Location – One Raffles Quay • Marina Bay Financial Centre – Phase 1 Details – Phase 1 Office – Phase 1 Residential 2

Introduction Introduction

Background • Development of New R A F F L E S A V E N U E New tourism icon Downtown at Marina Bay [ferris wheel] S ore River proposed bridge – Singapore’s new CBD area Marina Channel Y A U Q • One Raffles Quay is KLL’s R Raffles Place E Y Marina Bay L MRT L O first development in this C Interchange area BAYFRONT AVE One Marina Boulevard • Marina Bay Financial One Raffles Quay MBFC (white site) Centre (MBFC) Phase 1 The Sail @ Marina Bay M A R I N strengthens KLL’s foothold A SHENTON WAY MBFC Phase 1 B L V D in the New Downtown MBFC Phase 2 Marina Bay MRT Bayfront MRT Station Station Landmark MRT Station STRAITS BLVD Integrated Resort & Casino 4

Strategic Location Marina Bay Financial Centre Landmark MRT station Marina Bay Integrated Resort One Raffles Quay Existing hotels, Esplanade convention and Theatres retail facilities Crown jewel of Marina Bay, linking One Raffles Quay, Esplanade Theatres, Marina Bay Integrated Resort and Landmark MRT station 5

One Raffles Quay • Strong partners North – Developed with Cheung Kong and Hongkong Land, Tower Asia’s leading property companies South Tower – Consortium now embarking on 2nd project Marina Bay Financial Centre • 1.33 mil sf (TLA) office development – Site acquired in Mar 01 at $290 psf – Commenced work in Jun 02 – TOP : North Tower ­ Oct 06 South Tower ­ Apr 06 • 100% pre­committed, tenants include : – Deutsche Bank, UBS, ABN Amro, Ernst & Young, Credit Suisse and Barclays • One Raffles Quay provides relevant experience for MBFC 6

Marina Bay Financial Centre Marina Bay Financial Centre

Marina Bay Financial Centre • More than just an office building – “City in a Garden” integrated work­play environment – Contribute to the fulfilment of vision for Marina Bay – Strengthen Singapore’s position as Asia’s key financial hub • Awarded site in Jul 05 with same partners – Site area : 3.55­ha – Land price : $381 psf Marina Bay One Raffles Quay Raffles Place CBD Financial Centre 8

Marina Bay Financial Centre • Total GFA of 438,000 sm Guidelines : – At least 60% for office space – Remaining 40% for white site use Total GFA : 438,000 sm Ph 1 (244,000 sm) : Remaining Ph 1 Office Remaining (194,000 sm) portion Office : 180,000 sm Ph 1 Resi & 8 years option Retail Resi & retail : 64,000 sm 9

Phase 1 Details • Vibrant new $2 bil financial precinct • Two office towers – NLA : 1.65 mil sf One residential tower (total 428 units) – NSA : 0.56 mil sf • Unparalleled views of CBD skyline, Marina Bay area and the Straits of Singapore • Designed by world­renowned Kohn Pederson Fox Associates • Ready in 2010 10

Phase 1 Office 46­storey Office Tower • Office Towers Marina Bay Residences – Two office towers (32 and 46­storeys) – 1.65 mil sf (NLA) of grade A office space 32­storey Office Tower – Large column­free floor plates of 21,000 sf and 24,000 sf 11

Phase 1 Residential • Marina Bay Residences – Residential component of Marina Bay Financial Centre – Comprises 428 luxury waterfront homes fronting Marina Bay – Features 1­, 2­, 3­, and 4­bedroom units as well as penthouses in 55­storey tower – Well­positioned to meet strong international demand Marina Bay Residences – Plan to launch 200 units in 4Q06 12

Additional Info Additional Info

Singapore Office Market • Strong take­up of 1.84 mil sf for Jan­Sep 06, with entry of new companies and expansion of existing ones (URA) – Grade A office occupancy : 99.3% (CBRE) – Avg Grade A office rentals : $7.60 psf, up 11.8% qoq (CBRE) • Limited availability of quality space – 2007­2010 : Average new supply of 0.74 mil sf p.a. (CBRE) – Redevelopment to reduce CBD space by 1.5 mil sf (7­8% of current stock) • Further escalation of rents – Prime rents up 41% yoy to $6.90 psf/mth, highest since end­2001 (URA) – Grade A and prime rentals projected to rise by >9% and >5% respectively by end­2006 (CBRE) 14

Office Supply (2006­2010) Expected Proposed Office Projects NFA (sf) Completion 2006 Parakou Building 64,000 One Raffles Quay 1,322,534 55 Market Street ­ addition 78,000 SIF Building Redevelopment 68,000 Sub­ total 1,532,534 2007 LKN Building Redevelopment 80,800 VisionCrest 139,000 Central (office block only) 179,000 Sub­ total 398,800 2008 Selegie Road Office/Soho/Retail /Serviced Apt development 82,000 HarbourFront Tower 5 208,000 Sub­ total 290,000 2009 Overseas Union House Redevelopment 415,000 Crosby House Redevelopment 228,000 Sub­total 643,000 2010 MBFC (Phase 1) 1,646,876 Total (2006­2010) 4,511,210 Source : URA, CBRE and KLL 15

Office Occupancy and Rentals Islandwide Office Occupancy and Prime Rentals % S$psf/mth 92 8 Islandwide Occupancy Prime Rentals 7 90 89.6 89.5 89.2 89.0 88.8 6 88.0 88 87.7 87.2 86.6 5 86.4 86 85.7 85.4 85.2 85.0 4 84.3 84.0 84 83.7 83.5 83.1 3 82.7 82.6 82.1 82.2 82 2 80 1 78 0 1Q01 2Q01 3Q01 4Q01 1Q02 2Q02 3Q02 4Q02 1Q03 2Q03 3Q03 4Q03 1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 3Q05 4Q05 1Q06 2Q06 3Q06 16

Office Occupancy Costs • Singapore ranked 43rd worldwide, attractive compared to other Asian cities Global 50 Index (by occupation cost in US$ psf per annum) Ranking City US$/sf/annum Ranking City US$/sf/annum 1 London (West End), England 185.60 17 New Delhi, India 63.28 2 Tokyo (Inner Central), Japan 130.05 21 Milan, Italy 60.05 3 London (City), England 127.49 23 New York ­ Midtown Manhattan 55.15 4 Tokyo (Outer Central), Japan 117.90 26 Frankfurt am Main, Germany 54.26 5 Hong Kong 101.67 27 Madrid, Spain 54.13 7 Mumbai (Bombay), India 93.06 37 Shanghai (Pudong), China 44.86 8 Paris, France 92.48 39 Shanghai (Puxi), China 43.30 11 Edinburgh, Scotland 72.85 40 Washington, DC (CBD) 42.74 14 Seoul, South Korea 68.99 43 Singapore 41.53(S$5.45psf/mth) Source : CBRE Global Market Rents (May 2006) USD : SGD =1.576 17

Singapore Residential Market • Continued uptrend in prices and demand, led by strong take­up of high­end homes – High­end price hit : $3,000 psf for Tomlinson area, $2,300 psf for Ardmore Park area, and $1,800 psf for Sentosa condominiums • Singapore’s growing appeal as global city attracting more foreign buyers – 22% or 3,143 of the 14,286 homes sold in Jan­Sep 06 were bought by foreigners (Savills Singapore) • Exciting new lifestyle products like upmarket city condos and luxury waterfront homes likely to fuel demand 18

Residential Price and Rentals • Continued uptrend in prices and demand – More than 6,700 new units sold in Jan­Sep 06, up 2.7% yoy (URA) – Prices up 6.1% in first nine months of 2006, with the 2.7% rise in 3Q06 being the highest quarterly increase in 6 years (URA) URA Private Residential Demand and Price Index Price Index No. of Units 12,000 180 Total Primary Demand 173.1 Price Index 10,000 9,565 9,485 8,955 160 8,171 151.6 8,000 7,189 6,736 140 134.2 6,096 132.8 5,785 6,000 5,520 5,406 5,156 125.4 120 4,000 118.2 117.2 115.1 113.8 112.8 100 2,000 100 0 80 1996 1997 1998 1999 2000* 2001 2002 2003 2004 2005 1­3Q2006 19

Thank you 20