 |
|
|
Volume:
5,456,200 |
|
High:
1.850 |
|
Low:
1.820 |
|
|
|
Change:
+0.010
|
|
Last:
1.850
|
|
|
|
|
|
|
|
 |
|
|
 |
|
|
9 Penang Road is a new Grade A commercial building
which is undertaken through a joint venture with Haiyi
Holdings Pte Ltd, Singhaiyi Group Ltd and Suntec REIT,
with an interest of 35.0%, 35.0% and 30.0% respectively.
Currently under construction, the new ten-storey building consists of two wings with an approximate net
lettable area of 381,000 sq ft of office space across eight floors and 15,000 sq ft of retail space at the first level. In line with the Urban Redevelopment Authority’s Walking
and Cycling Plan, a cycling path and end-of-trip facilities will be provided in this development. The lease tenure of
the land was also extended to a fresh 99 years.
The development is situated at the former Park Mall
site which the Manger divested in December 2015 as
part of its proactive portfolio management strategy.
Redevelopment works for 9 Penang Road commenced
on 1 December 2016 and as at end December 2018,
the construction works was approximately 60.0%
completed.
The development is estimated to cost
approximately S$800 million and the building is
scheduled to complete at the end of 2019.
|
|
|
|
