GRADE A office building 79 Robinson Road has received its temporary occupation permit (TOP) on April 28, property giant CapitaLand said on Tuesday in a regulatory update.

The 29-storey office development has a net lettable area of 518,000 square feet (sq ft) and is jointly owned by CapitaLand, Japanese trading house Mitsui & Co and developer Tokyo Tatemono.

Tenants will take over their premises from June 2020 after the end of Singapore’s “circuit-breaker” period. They are expected to move in progressively from the third quarter of 2020.

79 Robinson Road has obtained more than 70 per cent leasing pre-commitment from multinational companies in various industries. They include Allianz, EFG Bank, Howden Insurance and William Grant & Sons. The space taken up is primarily in the low-zone and mid-zone areas.

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CapitaLand’s wholly-owned co-working and flexible workspace business unit Bridge+ will occupy 56,000 sq ft in the building and open in the fourth quarter of 2020.

Bridge+ will set up a fintech hub at 79 Robinson Road and has inked memoranda of understanding with the Asean Financial Innovation Network, FinTech Consortium, LongHash, Singapore FinTech Association, Tribe Accelerator and UOB.

This is to deliver programmes such as seminars, hackathons, lab crawls, industry gatherings and exhibitions for the fintech community.

79 Robinson Road has sheltered access to and from Tanjong Pagar MRT station. It is also 200 metres away from the upcoming Shenton Way MRT station.

The development sits on the site of the former CPF Building and was designed to have an energy-efficient facade. It has also received the Building and Construction Authority’s Green Mark Platinum Award for its sustainable and environmentally friendly features such as lush greenery and energy-efficient and water-efficient building systems.

The building also has a double-volume office space curated for a single tenant’s use called the Sky Village which occupies levels 27 and 28.

Tan Yew Chin, chief executive, business parks and commercial, CapitaLand Singapore, Malaysia and Indonesia, said: “The completion of 79 Robinson Road on schedule in Q2 2020, amid complexities caused by Covid-19 since early this year and the circuit breaker measures since April, is a testimony of our development expertise and collaborative working relationships with the main contractor, suppliers and other stakeholders in the real estate ecosystem.”

The office development is expected to further benefit from the upcoming Greater Southern Waterfront – a mixed-use district with residential, recreation and working spaces when completed.

CapitaLand shares ended at S$2.88 on Tuesday, down S$0.02 or 0.7 per cent.

Source: https://www.businesstimes.com.sg/real-estate/capitalands-jointly-owned-office-building-obtains-top

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