ONE@Changi City opens with over 90% occupancy

See its list of high-profile tenants.

Ascendas Pte Ltd and Frasers Centrepoint Limited (FCL) celebrated the official opening of its business space tower ONE@Changi City, marking the completion of Changi City in Changi Business Park.

Currently more than 90% occupied, its anchor tenants include reputed global companies such as Credit Suisse, JP Morgan and EMC.

The nine-storey ONE@Changi City provides 650,000 square feet of high-quality business space catering to companies in financial back-end operations, high technology businesses and data and software enterprises. The building features contiguous floor plates of up to 80,000 square feet per floor, the largest of its kind in Singapore.

Changi City is a 50:50 joint-venture development by Ascendas and FCL. The 4.7-hectare development embodies the ‘live-work-play’ concept, seamlessly integrating business spaces in ONE@Changi City; retail, F&B and entertainment operations in ‘Changi City Point’ mall and a hotel residence at ‘Capri By Fraser’, all in one location.

‘Changi City Point’ is managed by FCL, and was opened in November 2011. The 207,000 sq ft mall (net lettable area), which is the first within a business park, has seen its shopper traffic increase, from half a million a month since end-2011, to almost a million a month now. ‘Capri By Fraser’, which is managed by Frasers Hospitality, is FCL’s first hotel residence, which opened its doors in September last year. It currently enjoys an average occupancy of about 85%.

According to its developers, "the opening of ONE@Changi City heralds the completion of Changi City as one of Singapore’s largest integrated community within a business park. It represents a vibrant economic hub with attractive features in a suburban location to cater to the expectations of the new generation workforce, while keeping costs affordable for corporations."

In 2012, Changi City achieved international recognition as a Highly Commended Mixed-Use Development at the Asia Pacific Property Awards.

Mr Manohar Khiatani, President & CEO of Ascendas Group, said: “Ascendas is excited to be part of Singapore’s largest integrated business park development merging high-quality business space with retail and hospitality elements. The successful completion of Changi City sets a new benchmark for business park development in Singapore. It demonstrates the added value that a vibrant, integrated community can bring to businesses. This flagship project also epitomises the innovative customer-centric solutions that Ascendas always strives to provide to our valued customers.”

Mr Lim Ee Seng, Group CEO of Frasers Centrepoint Limited, said: “The completion of this integrated hub fulfills a shared vision between Ascendas and Frasers Centrepoint to develop a landmark business park. At Changi City, we have created an inspiring oasis in the midst of an urban jungle, and successfully integrated the ‘live-work-play’ concept. This has led to the tremendous growth in visitorship and a high demand for our business and hospitality spaces, which bears a strong testimony to the strategic fit of two bestin-class developers and managers.”

With the Singapore Government’s plan to decentralise economic activities outside the city area, developers expect the completion of ONE@Changi City is to draw renewed interest in Changi Business Park from companies seeking alternative spaces to the new central business district.

Changi City is the latest addition to a suite of iconic integrated projects pioneered by Ascendas, which includes the International Tech Park Bangalore in India, Dalian Ascendas IT Park and Ascendas OneHub GKC in China.