Investment Portfolio
Overview
Suntec City
One Raffles Quay
MBFC Properties
9 Penang Road
177 Pacific Highway
Southgate Complex
Olderfleet, 477 Collins Street
55 Currie Street
Volume:
10,773,600
High:
1.940
Low:
1.910
Change:
-
Last:
1.930
PROPERTY STATISTICS
As at 31 December 2018
Location 3, 5, 6, 7, 8 and 9 Temasek Boulevard and 1 Raffles Boulevard, Singapore
Title Leasehold 99 years from 1989
Total Net Lettable Area 2,232,4031 sq ft
• Office 1,332,560 sq ft
• Retail 899,843 sq ft
Number of tenants (actual) 604
Car Park Lots 3,0662
Purchase Price S$2,484.6 million3
Market Valuation S$5,542.3 million4
(31 December 2017:
S$5,436.6 million)
Gross Revenue S$323.3 million5
(2017: S$313.3 million)
Net Property Income S$206.3 million
(2017: S$209.1 million)
Committed Occupancy 99.0% (31 December 2017: 99.3%)
Notes:
  1. Reflects the net lettable area of Suntec City Office, Suntec City Mall and 60.8% interest in Suntec Singapore (Retail).
  2. Owned and managed by the Management Corporation Strata Title Plan No. 2197 (“MCST 2197”).
  3. Includes the purchase price for strata office space and the investment of a 60.8% interest in Suntec Singapore.
  4. Includes the value of a 60.8% interest in the Suntec Singapore of S$432.3 million.
  5. Comprises gross rental income of S$226.7 million, other income of S$6.9 million, and S$89.6 million from Suntec Singapore.
Suntec City is an iconic integrated commercial development located in the Marina Bay Precinct within Singapore’s Central Business District.

Developed by a consortium of successful business leaders from Hong Kong with a vision of making the complex “The Business Capital of Asia”, Suntec City is a landmark development which comprises five Grade A office towers, a world-class convention and exhibition centre, and one of Singapore’s largest shopping malls, all of which are interlinked by street level plazas and underground walkways. The world-famous Fountain of Wealth, which sits in the heart of Suntec City, embodies an abundance of life and an endless variety of bustling activity.
Suntec REIT owns a NLA of approximately 1.3 million sq ft in Suntec City Office Towers, comprising strata units across Towers One, Two and Three, and all strata units in Towers Four and Five. Towers One to Four are 45-storey buildings with typical floor plates ranging from 10,000 sq ft to 14,000 sq ft, whilst Tower Five is an 18-storey building with large floor plates of about 28,000 sq ft.

With good building specifications and a strong ecosystem, Suntec City Office draws a good stream of diverse multinational firms ranging from sectors such as Technology, Media and Telecommunications, Banking, Insurance and Financial Services and Trading and Investments.

For the month of December 2018, 32.5% of the total gross office revenue was attributable to the Technology, Media and Telecommunications sector, followed by 16.5% and 10.3% from Banking, Insurance and Financial Services sector and Trading and Investments sector respectively.

In terms of NLA, Technology, Media and Telecommunications sector, Banking, Insurance and Financial Services sector, and Trading and Investments sector, similarly constitute 32.7%, 17.5% and 9.6% of Suntec City’s Office NLA respectively as at 31 December 2018.
Suntec City Mall is one of Singapore’s largest malls and a leading shopping destination, offering a unique one-stop shopping, dining, recreation and entertainment experience for many. It caters to the needs of the working population from the office towers within Suntec City, and in the vicinity, the daily flow of tourists and locals, as well as the vast network of local and international delegates who convene at Suntec Singapore for exhibitions, seminars and conferences.

Suntec City houses approximately 370 retail establishments with 12 newto- market brands or concept stores. These include Bolon Eyewear, HLA, Fat Chap, Funsiamo, Hooga, Ichikokudo Ramen, Opatra, Oscar Wylee, Pasta Supremo, Smigy, SuperPark and The Thai Spa.

For the month of December 2018, 35.3% of the total gross retail revenue was attributable to the Food and Beverage sector, followed by 13.9% and 10.0% from Fashion and Accessories sector and Services and Others sector respectively.

In terms of NLA, as at 31 December 2018, 28.0% of Suntec City retail NLA was attributable to the Food and Beverage sector, followed by 16.5% and 12.9% from the Leisure, Fitness and Entertainment sector and Fashion and Accessories sector respectively.

Suntec Singapore Convention & Exhibition Centre (“Suntec Singapore”), is a world-class meeting, convention and exhibition venue. The award-winning facility can cater to events from 10 to 10,000 persons, offering direct access to approximately 5,800 hotel rooms, 1,000 retail outlets, 300 restaurants within close proximity to Singapore’s entertainment and cultural attractions.

Since 1995, Suntec Singapore has hosted many key notable events such as the World Trade Organization Ministerial Meetings in 1996, the Annual Meetings of the Board of Governors of the International Monetary Fund and World Bank Group in 2006 and the APEC Leaders Week in 2009. It also served as one of the largest sporting venues for the inaugural Youth Olympic Games in 2010.

On 18 August 2011, Suntec REIT secured strategic majority control of Suntec Singapore through the acquisition of an additional 40.8% equity stake, raising the effective stake from 20.0% to 60.8%.

Following the completion of the asset enhancement works in June 2013, conference delegates at the transformed Suntec Singapore now enjoy new facilities which incorporate enhanced flexibility, functionality and convertibility. Another highlight is the impressive three-storey high definition digital wall comprising 664 full HD LED screens which was awarded the Guinness World Records title for “Largest High Definition Video Wall”.

In 2017, Suntec Singapore hosted approximately 1,600 events. It also received numerous international, regional and local accolades and awards in recognition of its high standards of service excellence, dedication and passion. The awards received include “Outstanding Venue Award – Runner Up” at the AFECA Awards 2017, “Best Corporate MICE Venue” at the HRM Asia Readers’ Choice Awards 2017, “Best Convention & Exhibition Centre – Editors’ Choice Award” by CEI Asia, “Top Asian Venue” Exhibition Showcase Magazine and the 12th consecutive award for “Asia’s Leading Meetings & Conference Centre” at the World Travel Awards 2017.

HOME | About Suntec REIT | The Manager | Investment Portfolio | Investors | NewsROOM | SITEMAP | CONTACT US
Feedback | Terms of Use | Personal Data Protection Act Policy | Disclaimer