The world's best commercial high-rise development is in Singapore

Keppel REIT's Ocean Financial Centre takes top plum.

In a release, Keppel REIT announced that Ocean Financial Centre, its newest property, has been named the World’s Best Commercial High‐rise Development at the International Property Awards on 7 December 2012 in London, beating out tough competition worldwide.

Ms Ng Hsueh Ling, CEO of Keppel REIT Management, the Manager of Keppel REIT, said,  “Ocean Financial Centre is undeniably one of the best commercial properties with an enviable location at the Raffles Place and Marina Bay precincts. The latest award reflects Keppel REIT Management’s commitment towards investing in quality commercial properties that will provide stable and sustainable returns to our Unitholders.”

Since taking a majority interest of 99.9% in Ocean Properties Limited Liability Partnership, which owns Ocean Financial Centre, Keppel REIT Management has successfully increased occupancy at Ocean Financial Centre from approximately 80% as at October 2011 to approximately 96% to‐date.

Its latest tenants include those from the energy and natural resources as well as legal and financial service sectors namely Anglo American, CBRE Global Investors, Freshfields, Gazprom and Trafigura.

"They add to the stellar line‐up of multinational companies such as Australia and  New Zealand Banking Group Ltd (ANZ), BNP Paribas and Drew & Napier, all of whom have made Ocean Financial Centre their preferred business address," said Keppel REIT.

Keppel REIT Management has also successfully completed the refinancing of Ocean FinancialCentre’s construction loan of $598 million at competitive interest rates. The refinancing significantly lengthens Keppel REIT’s weighted average debt maturity profile from 2.3 years to 3.4 years as at September 2012.

Developed by Keppel Land, Ocean Financial Centre won the Best Office Architecture, Best Office Development and Best Commercial High‐rise Development in Singapore and subsequently clinchedthe award for Best Commercial High‐rise Development at the Asia Pacific Property Awards in April 2012.  The landmark premium Grade A office development went on to compete at the international arena and was awarded highest accolades as the World’s Best Commercial High‐rise Development at the International Property Awards. The International Property Award is a globally‐recognised mark of excellence, which celebrates the highest levels of achievement in the property and real estate industry.

Strategically located at the intersection of the prime Raffles Place and Marina Bay precincts, Ocean Financial Centre was completed in April 2011. At 43‐storeys high, Ocean Financial Centre is one of the newest and largest office buildings in Singapore’s CBD with 82,283 sm (or approximately 886,000 sf) of net lettable area. Phase 2, which comprises a carpark and retail podium, is currently under construction with completion expected by third quarter.