New 40-storey CapitaGreen office tower to rise in CBD by year-end

Exterior of CapitaGreen, a new 40-storey Grade A office tower on the former Market Street Car Park.-- PHOTO: CAPITACOMMERCIAL TRUST
Exterior of CapitaGreen, a new 40-storey Grade A office tower on the former Market Street Car Park.-- PHOTO: CAPITACOMMERCIAL TRUST

SINGAPORE - A new 40-storey office building in the central business district (CBD) is set to be completed by the end of this year, boosting the limited office supply in the area.

CapitaGreen, which is along Market Street, marked its topping-out at a ceremony in the building on Wednesday morning.

It will be the only new Grade A office development in the CBD to be completed within the next two years.

The guest of honour at the ceremony was National Development Minister Khaw Boon Wan, who did not give a speech.

About 21 per cent of the net lettable space in the building has been precommitted, its joint developers CapitaLand, CapitaCommercial Trust and Mitsubishi Estate Asia said in a statement on Wednesday.

Tenants include Cargill, Bordier & Cie, Jardine Lloyd Thompson, Jones Day and an international gym operator, they said.

Mr Lim Ming Yan, CapitaLand's president and group chief executive, said in the statement that the developers shortened the construction period to 36 months from the industry average of at least 40 months by using "innovative technologies and ... streamlining work processes".

He also said that CapitaGreen was Singapore's first building under development to use a special grade of ultra-strong concrete called "supercrete", which he said reduced the total amount of concrete needed for the project.