Investment Portfolio
Overview
Suntec City
One Raffles Quay
MBFC Properties
9 Penang Road
177 Pacific Highway
Southgate Complex
Olderfleet, 477 Collins Street
Volume:
2,552,700
High:
1.850
Low:
1.840
Change:
-0.010
Last:
1.850
PROPERTY STATISTICS
As at 31 December 2017
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 2,282,9261 sq ft
• Office 1,332,253 sq ft
• Retail 950,673 sq ft
Number of tenants (actual) 601
Car Park Lots 3,0662
Purchase Price S$2,484.6 million3
Market Valuation S$5,436.6 million4
(31 December 2016:
S$5,426.6 million)
Gross Revenue S$313.3 million5
(2016: S$313.5 million)
Net Property Income S$209.1 million
(2016: S$210.1 million)
Committed Occupancy 99.3% (31 December 2016: 98.5%)
Notes:
  1. Reflects the total net lettable area of Suntec City Office, Suntec City Mall and Suntec Singapore (Retail).
  2. Owned and managed by the Management Corporation Strata Title Plan No. 2197 (MCST).
  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$425.6 million.
  5. Comprises gross rental income of S$230.0 million and other income of S$5.0 million and S$78.3 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 in Towers One, Two and Three, and all strata units in Towers Four and Five. Towers One to Four are 45-storey buildings of column-free floor space, whilst Tower Five is an 18-storey building with large floor plates of up to 28,000 sq ft.

With quality buildings fronting the Marina Bay skyline and complemented by a wealth of amenities from the integrated mall, 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 Shipping and Freight Forwarding.

For the month of December 2017, 28.7% of the total gross office revenue was attributable to the Technology, Media and Telecommunications sector, followed by 21.6% and 10.0% from Banking, Insurance and Financial Services sector and Shipping and Freight Forwarding sector respectively.

In terms of NLA, as at 31 December 2017, 28.7% of Suntec City’s office NLA for was attributable to the Technology, Media and Telecommunications sector, followed by 22.8% and 10.1% from Banking, Insurance and Financial Services sector and Shipping and Freight Forwarding sector respectively.
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 five office towers within Suntec City and office buildings 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 Convention & Exhibition Centre for exhibitions, seminars and conferences.

Suntec City is an exciting, lifestyle destination offering over 360 specialty retail stores, varied food and beverage concepts and entertainment options. In 2017, over 20 new-to-market brands or concept stores opened in Suntec City. These include AW Lab, Bern, Commas, Da Vinci Innovation Labs, Dookki, Fightzone, Sichuan Kungfu Fish, MST Golf, Lincoln Richmond, Nya Nya Cafe, OMU, Ramen Nagi, Watch Wonderland and Zero Latency.

For the month of December 2017, 53.0% of the total gross retail revenue was attributable to the Food and Beverage and Fashion and Accessories sectors, and the remaining from other varied sectors such as Services and Others, Hair, Beauty and Wellness, Leisure, Fitness and Entertainment, and Electronics and Technology. In terms of NLA, as at 31 December 2017, 27.5% of Suntec City retail NLA was attributable to the Food and Beverages sector, followed by 16.8% and 12.7% from the Fashion and Accessories sector, and Leisure, Fitness and Entertainment sector respectively.

The top 10 retail tenants of Suntec City contributed 8.9% of Suntec City’s total gross revenue for the month of December 2017, representing 28.7% of the mall’s total NLA.

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