View Full Version : Capitaland NOT MOVING to Jurong Westgate!
http://www.straitstimes.com/breaking-news/money/story/capitaland-group-operate-single-location-capital-tower-2015-20130801
CapitaLand Group is keeping its current headquarters at Capital Tower and will centralise all its business units there by 2015, the property giant said on Thursday.
The announcement that it will operate from the central business district (CBD) area reverses earlier plans to move to the mixed development Westgate Tower in Jurong by 2015. Last year in August, CapitaLand had said that it would move its operations there while retaining a city office at Capital Tower.
CapitaLand said that the decision was made after a strategic review of the total office space requirement and available options.
Ooooops heard from Jurong to as far as Bedok.
This crappyland always sabo people.
Say moving to Julong then now u turn.
Say shoebox is inhumane and now also u turn! Really mouth stuck banana!
phantom_opera
01-08-13, 14:57
Dun worry, Khaw will be there if PAP wins next election :tongue3:
ops! jialat liao! ppl alrdy paid a high $ for J gateway liao den now they r saying not moving?!?!
what if the govt suddenly change the plan for jurong?
phantom_opera
01-08-13, 15:48
CM-CAPL
Cooling Measure - Capitaland :scared-4:
http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/08/slippery_0.png
what if the govt suddenly change the plan for jurong?
den ringo will cry until there is a jurong river liao lor! :scared-4:
http://www.straitstimes.com/breaking-news/money/story/capitaland-group-operate-single-location-capital-tower-2015-20130801
CapitaLand Group is keeping its current headquarters at Capital Tower and will centralise all its business units there by 2015, the property giant said on Thursday.
The announcement that it will operate from the central business district (CBD) area reverses earlier plans to move to the mixed development Westgate Tower in Jurong by 2015. Last year in August, CapitaLand had said that it would move its operations there while retaining a city office at Capital Tower.
CapitaLand said that the decision was made after a strategic review of the total office space requirement and available options.
It makes commercial sense to stay put
- GIC is in capital towers too and easier to discuss business deals
- All private banks are in CBD, and private clients stay in CCR or sentosa
- The law firms that structure their deals are in CBD
But i suspect that the biggest reason to stay in tanjong pager is....the food at maxwell and ah moi hawker centre are just too good to miss out
Capitaland is the landlord and they are not going to suddenly vacant out their brand new office without signing up major tenants to take up the space.
I see this as a positive sign because this only shows the underlying demand for office space in Jurong Gateway.
princess_morbucks
01-08-13, 18:30
Capitaland is the landlord and they are not going to suddenly vacant out their brand new office without signing up major tenants to take up the space.
I see this as a positive sign because this only shows the underlying demand for office space in Jurong Gateway.
Yes, I agree with you.
It is likely that they foresee that the rental in Westgate will be good, so they rather lease it out than occupy it themselves.
It makes commercial sense to stay put
- GIC is in capital towers too and easier to discuss business deals
- All private banks are in CBD, and private clients stay in CCR or sentosa
- The law firms that structure their deals are in CBD
But i suspect that the biggest reason to stay in tanjong pager is....the food at maxwell and ah moi hawker centre are just too good to miss out
I think it is the senior staff who complain about travelling or moving to the west. Property prices and rentals are not as cheap as earlier envisaged and shifting cost of office could be high. It is just cost-cutting and ability to rent out for good $ in JLD in my opinion.
phantom_opera
01-08-13, 18:37
proximity to LKY is of unmeasurable importance :p
I think it is the senior staff who complain about travelling or moving to the west. Property prices and rentals are not as cheap as earlier envisaged and shifting cost of office could be high. It is just cost-cutting and ability to rent out for good $ in JLD in my opinion.
Westgate tower office space probably can fetch $5 psf for monthly rental at best. Whereas any grade A CBD office can easily fetch $9 psf.
So I really doubt Capitaland is in "cost-cutting" mode to stay put in CBD.
To put things in perspective, capitaland probably needs around 300,000 sf of office space. For $4 more for each sf, its expenditure only increases by $1.2mm per month - which for a company whose annual revenues are in hundreds of millions, it is not going to be a deal breaker.
It's about branding la....why move to Jurong and be associated with less prestigious address for their HQ? That's not cool....CBD is the right choice....
rymccondo77
01-08-13, 23:23
Change of CEO - Change of Plans !!!
I have a 1000 sqft condo unit in marinabay which I can rent out for $6000 per mth. I also got a1000sqft condo unit in Jurong which can be rented out at $3500.
which unit should I use as home, which one to be rented out?? so confusing leh...
proud owner
02-08-13, 00:37
I have a 1000 sqft condo unit in marinabay which I can rent out for $6000 per mth. I also got a1000sqft condo unit in Jurong which can be rented out at $3500.
which unit should I use as home, which one to be rented out?? so confusing leh...
as an investor ... its obvious ... rent out MarinaBay ...
But while waiting for that renter for marina bay to pay you $6k ... someone comes along and pays you $3k for your Jurong first ...
you hold back and wait and wait and wait... after 3 mths .. you lost $9k already ..
then how ?
wait some more ?
or rent out Jurong and collect $3k first .. for the $6k may take a long time to come by
or may never come ... at all ... meanwhile you lose many mths of $3k in the process ...
True, however both Marinabay is a acknowledged prime area and easy to rent out, while Jurong is a much argued prime area wannabe, also easy to rent out. so what now?
as an investor ... its obvious ... rent out MarinaBay ...
But while waiting for that renter for marina bay to pay you $6k ... someone comes along and pays you $3k for your Jurong first ...
you hold back and wait and wait and wait... after 3 mths .. you lost $9k already ..
then how ?
wait some more ?
or rent out Jurong and collect $3k first .. for the $6k may take a long time to come by
or may never come ... at all ... meanwhile you lose many mths of $3k in the process ...
princess_morbucks
02-08-13, 12:15
I have a 1000 sqft condo unit in marinabay which I can rent out for $6000 per mth. I also got a1000sqft condo unit in Jurong which can be rented out at $3500.
which unit should I use as home, which one to be rented out?? so confusing leh...
To me, the answer is very clear.
I will stay in Jurong and let out the Marina Bay unit.
Why?
In addition to the higher rental fromthe marina bay one, the following are my reasons:
Jurong is nearer to amenities - I need wet market, supermarkets (NTUC, sheng siong - and not the atas ones), library, heartland type of malls, etc.
Jurong is more convenient for education.
Things in Jurong are cheaper.
I do not need to wear nice clothes when I am in Jurong.
I feel more natural when I am in Jurong than in Marina Bay.
I will rent out Jurong and live in Marina.
Why? Because Jurong badly polluted air will make us get cancer more easily, otherwise shorter life and not healthy life.
But wait, Jurong rental not good, how to rent out hah?
Conclusion: Better buy 1 in Marina & 1 in Orchard, 1 to rent out and to self stay................ :p
To me, the answer is very clear.
I will stay in Jurong and let out the Marina Bay unit.
Why?
In addition to the higher rental fromthe marina bay one, the following are my reasons:
Jurong is nearer to amenities - I need wet market, supermarkets (NTUC, sheng siong - and not the atas ones), library, heartland type of malls, etc.
Jurong is more convenient for education.
Things in Jurong are cheaper.
I do not need to wear nice clothes when I am in Jurong.
I feel more natural when I am in Jurong than in Marina Bay.
I will rent out Jurong and live in Marina.
Why? Because Jurong badly polluted air will make us get cancer more easily, otherwise shorter life and not healthy life.
But wait, Jurong rental not good, how to rent out hah?
Conclusion: Better buy 1 in Marina & 1 in Orchard, 1 to rent out and to self stay................ :p
Just watch a video advising to sell marina property because the prices are trending sideways. While in the same video, they are advising investors to look at The Centris in Jurong.
Conclusion : only believe those with facts, and not big talk
https://www.youtube.com/watch?v=e3jVK1f5bos&feature=youtube_gdata_player
Better buy 1 in Marina & 1 in Orchard, 1 to rent out and to self stay................ :p
Sure, if Jurong costs as much as Orchard, your proposition is feasible, or else you just sound like a childish juvenile.
To me, the answer is very clear.
I will stay in Jurong and let out the Marina Bay unit.
Why?
In addition to the higher rental fromthe marina bay one, the following are my reasons:
Jurong is nearer to amenities - I need wet market, supermarkets (NTUC, sheng siong - and not the atas ones), library, heartland type of malls, etc.
Jurong is more convenient for education.
Things in Jurong are cheaper.
I do not need to wear nice clothes when I am in Jurong.
I feel more natural when I am in Jurong than in Marina Bay.
Why cannot be natural at Marina Bay? The air there is different?
Allthepies
02-08-13, 13:55
I have a 1000 sqft condo unit in marinabay which I can rent out for $6000 per mth. I also got a1000sqft condo unit in Jurong which can be rented out at $3500.
which unit should I use as home, which one to be rented out?? so confusing leh...
sell both units and rent/buy big hdb:) 2 units ahould make 1mil or more net profits... and cash out 1mil or more... so u have 2 mil or more of hard cold cash. use the money to enjoy life with ur family
Forget about tiny rental income of 9k per mth, need to pay tax, maintenance and also if u meet hell tenants, ur unit is gone.
princess_morbucks
02-08-13, 14:12
Why cannot be natural at Marina Bay? The air there is different?
In Marina Bay, I must wear nice clothes and high heels and carry branded handbag.
In Jurong, I can just wear T shirt and shorts, flip flops and carry a recycle bag.
In Marina Bay, I must wear nice clothes and high heels and carry branded handbag.
In Jurong, I can just wear T shirt and shorts, flip flops and carry a recycle bag.
I do see people in t shirts and shorts and flip flops at the MBFC Link mall or Shoppes MBS. The tourists are in flip flops too.
Business address very impt... People ask where is your office.. You say UOB tower, all will wah... You say Jurong, all will say ok... Jurong just dun have the 'wah' factor... Also the high ranking in Capitaland all sure stay in city area la.. Now everyday ask them to drive from Jurong to City on the always jam PIE and AYE, I think they will give up and move the office ba to city.. The moment their car leave the Westgate carpark it will stay to jam all the way home...
In Marina Bay, I must wear nice clothes and high heels and carry branded handbag.
In Jurong, I can just wear T shirt and shorts, flip flops and carry a recycle bag.
simi si recycle bag... u mean used ntuc plastic bag??
princess_morbucks
03-08-13, 10:20
simi si recycle bag... u mean used ntuc plastic bag??
Lol..recycle bag is environmentally friendly.
Plastic bag is not.
Previously you say move to Jurong is good sign.
Now you say don't move is good.
Both also good?
No matter what, in your opinion, Jurong is just good whichever way?
Or too good to be true?
p
Capitaland is the landlord and they are not going to suddenly vacant out their brand new office without signing up major tenants to take up the space.
I see this as a positive sign because this only shows the underlying demand for office space in Jurong Gateway.
My take is :
if regional HQ of world-class top tier prominent firm in its industry (think Goldman Sachs, Google, LVMH, etc) takes over Westgate -> big gain for JLD
if a local company of similar statute like Capitaland moves into Westgate (e.g. SIA) , or backoffice/IT-hub of fortune 500 MNC -> no gain or loss
if another ministry or stat board moves into Westgate -> small loss as JLD will be seen as a gov administrative hub with no diversity of private sector
if it is sublet out to hundreds of small SMEs serving the factories in Tuas -> big loss as JLD will be seen as satellite town
My take is :
if regional HQ of world-class top tier prominent firm in its industry (think Goldman Sachs, Google, LVMH, etc) takes over Westgate -> big gain for JLD
if a local company of similar statute like Capitaland moves into Westgate (e.g. SIA) , or backoffice/IT-hub of fortune 500 MNC -> no gain or loss
if another ministry or stat board moves into Westgate -> small loss as JLD will be seen as a gov administrative hub with no diversity of private sector
if it is sublet out to hundreds of small SMEs serving the factories in Tuas -> big loss as JLD will be seen as satellite town
Any elementary kids in school will tell you that if you add 1 to 1, you get something that is greater than 1.
Banks will always remain in CBD because they need to show to their clients that they are strong even thought they are not. As for FMCG, Pharmaceutical or manufacturing companies, they doesnt need to waste money to be located in CBD because their products are testaments of their capabilities not the address of their office. In fact there are many MNCs who doesnt even disclose their regional office contact details on their website.
SAP, Samsung, Unilever, Nestle, P&G are just some example of big corporation that doesnt operate out of CBD.
Any elementary kids in school will tell you that if you add 1 to 1, you get something that is greater than 1.
Banks will always remain in CBD because they need to show to their clients that they are strong even thought they are not. As for FMCG, Pharmaceutical or manufacturing companies, they doesnt need to waste money to be located in CBD because their products are testaments of their capabilities not the address of their office. In fact there are many MNCs who doesnt even disclose their regional office contact details on their website.
SAP, Samsung, Unilever, Nestle, P&G are just some example of big corporation that doesnt operate out of CBD.
Great insight - these companies you mentioned which are not located in CBD are found in Alexandra Precinct, one-north district, or changi business park.
There are also up and coming regional hubs like paya lebar square competing for these companies.
Since there is no need to be based in CBD, then they are going to be spoiled for choices!
Great insight - these companies you mentioned which are not located in CBD are found in Alexandra Precinct, one-north district, or changi business park.
There are also up and coming regional hubs like paya lebar square competing for these companies.
Since there is no need to be based in CBD, then they are going to be spoiled for choices!
Yes, for the 3000 MNCs located in the western region, the most logical place to set up their regional office outside CBD will be in Jurong Lake District.
And thats not forget that in future, all the port activities will be shifted to Tuas, which will bring along substantial jobs and companies to the west as well
Will be great news to D1 people, because all the smokes, dusts, CO2 from the ships etc will all be shipped to the West!
D1 will be a greater place to live in as a result! :rolleyes:
Yes, for the 3000 MNCs located in the western region, the most logical place to set up their regional office outside CBD will be in Jurong Lake District.
And thats not forget that in future, all the port activities will be shifted to Tuas, which will bring along substantial jobs and companies to the west as well
Will be great news to D1 people, because all the smokes, dusts, CO2 from the ships etc will all be shipped to the West!
D1 will be a greater place to live in as a result! :rolleyes:
glad you are acknowledging the obvious. Unfortunate, the entire sea route spanning from East to West will be use as holding area for vessel. If you use google map you should be able to see what I am talking about.
Oh, you are reminding us about the seaside areas from east coast to west coast that will be polluted by those ships? No wonder east coast now so black!!!!
Yes you are right, so I will avoid all these areas! Mind to share what are those districts? D15, D16, D5, and ???
Oh yes, Think Jurong the worst, ships pollution + Jurong/Tuas petrochemical/industrial plants pollution + Jurong Island pollution! :doh:
glad you are acknowledging the obvious. Unfortunate, the entire sea route spanning from East to West will be use as holding area for vessel. If you use google map you should be able to see what I am talking about.
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