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One-fifth of CapitaGreen leased ahead of completion

The new 40-storey building at Market Street, slated to be completed by end-2014, has secured pre-commitment for 21 per cent of its net lettable area.

SINGAPORE: The upcoming CapitaGreen, a Grade A office building at Market Street, has secured leasing pre-commitments for 21 per cent of its net lettable area, joint developer CapitaCommercial Trust (CCT) said on Wednesday (July 2).

About 150,800 sq ft of the 40-storey building’s total net lettable area of 700,000 sq ft has been committed, CCT said. The tenants include multinational firms such as commodities trading giant Cargill, Swiss private bank Bordier & Cie, insurance broker Jardine Lloyd Thompson, law firm Jones Day and an unnamed international gym operator.

A topping-out ceremony to mark the progress of the building’s construction was held on Wednesday by the development’s joint venture partners – CCT, CapitaLand and Mitsubishi Estate Asia. National Development Minister Khaw Boon Wan officiated the ceremony and planted nine plant species, to showcase the plants that will be grown in the building.

Ms Lynette Leong, CEO of CCT, said in a statement: "Given that CapitaGreen is the only new Grade A office development in the CBD completing in the next two years, it is well positioned to leverage on the limited office supply to progressively attract more tenants."

CapitaLand said that by adopting innovative technologies and design-and-build methodology, the construction timeline has been shortened from 40 months – the average industry minimum to complete a building of this scale – to 36 months.

CapitaGreen is due to be completed by the end of this year.

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