New Reporter
04-08-23, 10:27
Mapletree bags URA’s provisional nod for HarbourFront Centre redevelopment
The proposed total GFA of 1.54 million sq ft office and retail space is about 47% higher than that of the existing building
Aug 04, 2023
MAPLETREE Investments has received the Urban Redevelopment Authority’s (URA) provisional permission to redevelop HarbourFront Centre at 1 Maritime Square into 101,326 square metres (sq m) of offices and 42,000 sq m of retail space.
Both figures refer to gross floor area (GFA). The combined GFA of 143,326 sq m, or 1.54 million sq ft, is an expansion of nearly 47 per cent over the existing GFA of 97,700 square metres in the 13-storey building.
The nod for the proposed development in May 2023 is among a string of projects granted provisional permission in the second quarter.
HarbourFront Centre was formerly known as World Trade Centre, developed by the Port of Singapore Authority (PSA). It was completed in 1978. PSA was corporatised in 1997. In December 2000, Mapletree Investments was established to hold the non-port properties – including World Trade Centre – that were transferred from PSA Corporation to Temasek Holdings.
Mapletree subsequently reopened the revamped World Trade Centre as HarbourFront Centre in February 2003.
The property is located next to HarbourFront MRT interchange station on the North-East Line and Circle Line. The building has a three-level mall, in addition to offices and an international cruise centre. Full office floors in the building are about 100,000 sq ft each.
Besides HarbourFront Centre, other office buildings in the area include HarbourFront Towers One and Two, Keppel Bay Tower and Bank of America HarbourFront.
Andrew Tangye, head of office leasing advisory at JLL in Singapore, noted that a redevelopment of HarbourFront Centre with a substantial office component would help strengthen the office market in the locale. “This would appeal to tenants that have a preference to be in a decentralised location but close to the Central Business District.”
In the Tanjong Pagar office micro-market, Hong Leong Holdings obtained URA’s provisional permission in June to redevelop Anson Centre at 51 Anson Road into 87 residential apartments, as well as offices with a total GFA of 7,128 sq m.
Hong Leong Holdings had developed Anson Centre in the 1970s. The 14-storey commercial building has a current GFA of about 9,000 sq m, said a spokesman for the company, adding that it is unable to provide further details on the proposed redevelopment at this point.
URA nods for two Frasers projects
Units of Frasers Property also received provisional nods from the planning authority for two projects in Q2.
One is for a proposal to build 4,430 sq m of retail space and 414 residential apartments in Unity Street near the Singapore River. According to information in Frasers Property’s latest annual report, it owns Robertson Walk mall and Fraser Place Robertson Walk – with 164 serviced apartments – at 11 Unity Street.
The second approval the group clinched is for a project with 622 residential apartments and serviced apartments in River Valley Road. The group owns Valley Point shopping centre and office tower at 491B River Valley Road and Fraser Suites Singapore – with 255 serviced apartments – at 491A River Valley Road. The serviced residence component is held under Frasers Hospitality Trust. Both assets are on the same land lot.
URA also granted provisional permission for a string of residential projects in Q2.
These include a 916-unit condominium on the Chuan Park collective sale site in Lorong Chuan; the project is to be developed by a consortium led by Kingsford Group.
A tie-up between mainboard-listed GuocoLand and Hong Leong Holdings’ Intrepid Investments has been given the nod to develop a 533-unit condominium project on a site in Lentor Gardens. The tie-up was the sole bidder for the 99-year leasehold site at a state tender that closed in April this year.
In addition, a partnership between Far East Organization and Sekisui House received URA’s provisional nod in May for a 341-unit condo development along Hillview Rise. The project, named Hillhaven, will be developed on a site which the duo clinched at a state land tender that closed in November 2022.
https://www.businesstimes.com.sg/property/mapletree-bags-uras-provisional-nod-harbourfront-centre-redevelopment
The proposed total GFA of 1.54 million sq ft office and retail space is about 47% higher than that of the existing building
Aug 04, 2023
MAPLETREE Investments has received the Urban Redevelopment Authority’s (URA) provisional permission to redevelop HarbourFront Centre at 1 Maritime Square into 101,326 square metres (sq m) of offices and 42,000 sq m of retail space.
Both figures refer to gross floor area (GFA). The combined GFA of 143,326 sq m, or 1.54 million sq ft, is an expansion of nearly 47 per cent over the existing GFA of 97,700 square metres in the 13-storey building.
The nod for the proposed development in May 2023 is among a string of projects granted provisional permission in the second quarter.
HarbourFront Centre was formerly known as World Trade Centre, developed by the Port of Singapore Authority (PSA). It was completed in 1978. PSA was corporatised in 1997. In December 2000, Mapletree Investments was established to hold the non-port properties – including World Trade Centre – that were transferred from PSA Corporation to Temasek Holdings.
Mapletree subsequently reopened the revamped World Trade Centre as HarbourFront Centre in February 2003.
The property is located next to HarbourFront MRT interchange station on the North-East Line and Circle Line. The building has a three-level mall, in addition to offices and an international cruise centre. Full office floors in the building are about 100,000 sq ft each.
Besides HarbourFront Centre, other office buildings in the area include HarbourFront Towers One and Two, Keppel Bay Tower and Bank of America HarbourFront.
Andrew Tangye, head of office leasing advisory at JLL in Singapore, noted that a redevelopment of HarbourFront Centre with a substantial office component would help strengthen the office market in the locale. “This would appeal to tenants that have a preference to be in a decentralised location but close to the Central Business District.”
In the Tanjong Pagar office micro-market, Hong Leong Holdings obtained URA’s provisional permission in June to redevelop Anson Centre at 51 Anson Road into 87 residential apartments, as well as offices with a total GFA of 7,128 sq m.
Hong Leong Holdings had developed Anson Centre in the 1970s. The 14-storey commercial building has a current GFA of about 9,000 sq m, said a spokesman for the company, adding that it is unable to provide further details on the proposed redevelopment at this point.
URA nods for two Frasers projects
Units of Frasers Property also received provisional nods from the planning authority for two projects in Q2.
One is for a proposal to build 4,430 sq m of retail space and 414 residential apartments in Unity Street near the Singapore River. According to information in Frasers Property’s latest annual report, it owns Robertson Walk mall and Fraser Place Robertson Walk – with 164 serviced apartments – at 11 Unity Street.
The second approval the group clinched is for a project with 622 residential apartments and serviced apartments in River Valley Road. The group owns Valley Point shopping centre and office tower at 491B River Valley Road and Fraser Suites Singapore – with 255 serviced apartments – at 491A River Valley Road. The serviced residence component is held under Frasers Hospitality Trust. Both assets are on the same land lot.
URA also granted provisional permission for a string of residential projects in Q2.
These include a 916-unit condominium on the Chuan Park collective sale site in Lorong Chuan; the project is to be developed by a consortium led by Kingsford Group.
A tie-up between mainboard-listed GuocoLand and Hong Leong Holdings’ Intrepid Investments has been given the nod to develop a 533-unit condominium project on a site in Lentor Gardens. The tie-up was the sole bidder for the 99-year leasehold site at a state tender that closed in April this year.
In addition, a partnership between Far East Organization and Sekisui House received URA’s provisional nod in May for a 341-unit condo development along Hillview Rise. The project, named Hillhaven, will be developed on a site which the duo clinched at a state land tender that closed in November 2022.
https://www.businesstimes.com.sg/property/mapletree-bags-uras-provisional-nod-harbourfront-centre-redevelopment