http://www.straitstimes.com/archive/...entre-20131213

Full occupancy at Ocean Financial Centre

Published on Dec 13, 2013

By Rachael Boon


THE 43-storey Ocean Financial Centre is now fully occupied, after upgrading works, said the manager of Keppel Real Estate Investment Trust (Reit) yesterday.

This means that all five Singapore properties in the Reit's portfolio are 100 per cent occupied, a rise from its average 99.5 per cent as at the end of September.

New tenants at Ocean Financial Centre in Singapore's business hub include energy firm Linc Energy, recruitment agency BGC Group and technology law firm Olswang Asia.

A seven-storey carpark and retail podium was also completed last month, and some 8,600 sq ft worth of retail space leased to tenants such as Starbucks and Cedele.

The Central Business District's average occupancy rate was 93.5 per cent for the third quarter.

"We have steadily signed on tenants to achieve full occupancy, from approximately 80 per cent when we acquired Ocean Financial Centre in December 2011," Ms Ng Hsueh Ling, chief executive of Keppel Reit Management, said in a statement.

"This attests to Ocean Financial Centre as one of Singapore's premium office properties with an enviable location at the heart of the Raffles Place and Marina Bay precincts."

Other tenants include multinational companies such as banking group ANZ and law firm Drew & Napier.

Ocean Financial Centre is at the intersection of the Raffles Place and Marina Bay areas, with a total net lettable area of about 885,000 sq ft.

Its underground pedestrian network links it to Raffles Place MRT station. This also connects to other Keppel Reit properties, including Marina Bay Link Mall and One Raffles Quay.

Greater accessibility will come when the Downtown MRT station - that links directly to Marina Bay Link Mall - opens on Dec 22 this year.

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