View Full Version : 1 Raffles Quay (245 + 140m / 50 + 28 floors) #2
redstone September 24th, 2005, 02:59 PM Note by moderator - The earlier discussion of this project has been archived and can be found here:
http://www.skyscrapercity.com/showthread.php?t=68446
24 September 2005
http://img335.imageshack.us/img335/4108/rq4rk.jpg
Update. Shorter tower almost same height has John Hancock Tower.
http://img335.imageshack.us/img335/91/rq0xy.jpg
Meanwhile an orange thingy had popped out from the core. Anyone know what it is?
hyacinthus September 24th, 2005, 03:04 PM I don't see it in the pic taken today.
http://img100.imageshack.us/img100/5330/p10207072hp.jpg
RafflesCity September 24th, 2005, 03:06 PM looks so good now!
hmmm..I wonder what that orange 'stick' at the top is for...the project should have reached its maximum height or what...
redstone September 24th, 2005, 03:09 PM looks so good now!
hmmm..I wonder what that orange 'stick' at the top is for...the project should have reached its maximum height or what...
That's what I'm asking.
A sign of topping out soon?
hyacinthus September 24th, 2005, 03:11 PM okay... now I know what Redstone meant. See the closeups.
http://img100.imageshack.us/img100/1120/p10207075xa.jpg
http://img100.imageshack.us/img100/5861/p10207086of.jpg
redstone September 24th, 2005, 03:13 PM Hmmm... what's that? :?
hyacinthus September 24th, 2005, 03:15 PM post in world forum and ask. sorry. I didn't notice that. Otherwise, would have taken a better closeup.
babystan03 September 24th, 2005, 03:16 PM I don't see it in the pic taken today.
http://img100.imageshack.us/img100/5330/p10207072hp.jpg
Looks good from this angle.....:yes:
hyacinthus September 24th, 2005, 03:19 PM oh okay.
@babystan. Yup. But, to take this pic, one has to go to the quieter side of the restaurant which is a closed section usually. ;)
RafflesCity September 24th, 2005, 03:22 PM it may be just a box...but it sure looks classy to me :cool:
redstone September 24th, 2005, 03:24 PM AI: Giant-turned-dwarf :lol:
hyacinthus September 26th, 2005, 01:22 PM Taken today.
http://img100.imageshack.us/img100/4703/p10301990ka.jpg
The orange equipment is part of a concrete pumper that looks like this
http://boulder.noaa.gov/const_photos/blockd/jul-b-1.jpg
Mr.ASAP September 27th, 2005, 12:33 PM here is one taken today :) sorry for the quality, taken from my phone :)
http://img380.imageshack.us/img380/4361/27sept0tk.jpg
this picture view angle somehow shrouds the dominate views of the three towers :p
Chad September 27th, 2005, 01:07 PM This building turns out to be totally different in everyway I'v expected, Slimmer, Taller, Surprisingly Impressive facade, bigger impact to the overal skyline and ofcouse I love it...:D
RafflesCity September 28th, 2005, 12:43 AM yes Chad it does look wondrous, although the shorter one is really huge! They both look like they dont wanna 'fit-in' with the older buildings :O
Thats a cool angle Mr ASAP!
redstone September 28th, 2005, 08:21 AM How tall is the short tower?
It's absolutely MASSIVE!!!! :eek2:
hyacinthus September 29th, 2005, 02:16 PM Saw this today... looks scary!!! :eek:
http://img100.imageshack.us/img100/218/dscn02763er.jpg
redstone September 29th, 2005, 02:17 PM The cable looks fragile... :runaway:
Charging Bull September 29th, 2005, 02:22 PM To play safe: beside using safety belt, may be they should also wear parachute :lol:
HIGH risk High return
redstone September 29th, 2005, 02:26 PM Teather themselves to the building with back-up teather. :lol:
Sorry... how's the single word for 'safety line' spelt? =P
hyacinthus September 29th, 2005, 02:33 PM I've never knew it's done manually... piece by piece... :runaway:
http://img100.imageshack.us/img100/8128/dscn02751th.jpg
redstone September 29th, 2005, 02:45 PM :eek2:
Like giant jigsaw puzzel!!!
hyacinthus September 29th, 2005, 02:56 PM I saw the delivery of those panels on last 2 evenings. They were huge! btw, it amuses me to see that the expected date of completion for ORQ is 24 Sept 2005 on its board.
redstone September 29th, 2005, 02:57 PM Miscalculations... :lol:
It's a mystery when it'll be completed... :lol:
RafflesCity September 29th, 2005, 04:29 PM no lah...the project was behind schedule since last year...and wasnt helped by the on-site accidents...
hyacinthus September 29th, 2005, 04:57 PM really? no wonder they are rushing mad... hmmm... will sail@marina delay too? the progress on that site is so very slow... :p
RafflesCity September 29th, 2005, 05:00 PM I think the foundation on the Sail may take as long as 1.5 years before it starts rising...hopefully not, but 1RQ took that long (also because the MRT tunnel runs directly beneath it).
heirloom September 29th, 2005, 05:05 PM but... the sail's top is like 31dec 2009.. . too much time if you ask me
shao_ye September 29th, 2005, 05:43 PM as long as those stuff that happened to orq doesnt happent to sail, sail will complete on time! all the best... :)
ncon October 3rd, 2005, 12:06 PM yesterday:
http://img296.imageshack.us/img296/7631/dsc025401my.jpg
http://img159.imageshack.us/img159/2290/dsc025297oj.jpg
redstone October 3rd, 2005, 12:09 PM Wah!!!!!! :eek::cool:
Post in world forums!!!!
RafflesCity October 3rd, 2005, 12:10 PM wonder if the extended crane breaches the 280m height restriction :lol:
ncon October 3rd, 2005, 03:53 PM The impact on the skyline :cool:
http://img259.imageshack.us/img259/6500/dsc025358tr.jpg
redstone October 3rd, 2005, 05:12 PM Stunning!!!! :cool:
heirloom October 3rd, 2005, 05:15 PM actually i dont really think its really special or stunning or blarblar. singapore's skyline isn't transformed dramatically because of this building, nor is it a very spectacular building.
ncon October 4th, 2005, 02:59 PM another pics more clearer on the skyline:
http://img321.imageshack.us/img321/8431/dsc025323zp.jpg
JoSin October 7th, 2005, 02:13 PM wow it looks blueish from here...
redstone October 9th, 2005, 10:03 AM http://img100.imageshack.us/img100/4698/rq14ky.jpg
http://img100.imageshack.us/img100/2499/rq20gj.jpg
ncon October 10th, 2005, 03:35 PM 08 oct 2005
http://img404.imageshack.us/img404/1251/dsc026212gz.jpg
http://img426.imageshack.us/img426/8632/dsc026375xm.jpg
http://img449.imageshack.us/img449/2195/dsc026290nm.jpg
http://img426.imageshack.us/img426/205/untitledtruecolor049pi.jpg
Cliff October 10th, 2005, 03:39 PM wow, nice set of pics! Really brings out the shine of the building.
ndp October 16th, 2005, 03:18 PM http://i11.photobucket.com/albums/a161/juanwy/IMAGE0134.jpg
One Raffles Quay is shaping the skyline.(sry as the pic is not clear)
Mr.ASAP October 18th, 2005, 04:46 PM today :)
http://img232.imageshack.us/img232/3527/img19288hv.jpg
hyacinthus October 18th, 2005, 04:54 PM they have yet done any cladding on the connecting portion?
u walked from there to Marina Square vs Marina City Park then Sheares Bridge? :dizzy:
actually, some forumers here love to do that... walk long distance. ;D
Mr.ASAP October 18th, 2005, 05:00 PM they have yet done any cladding on the connecting portion?
u walked from there to Marina Square vs Marina City Park then Sheares Bridge? :dizzy:
actually, some forumers here love to do that... walk long distance. ;D
yes walk through shears bridge....lol walk to the constructions site is the exit i though was dead end :p luckily there was a visible exit from the contruction site, got funny stares from the bangladashi workers :) as i walk out from there ..... because ''by-right'' shears bridge is no longer accessable :( (pedestraians that is :))
today was a great photo opportunity because of the nice sky conditions :)
hyacinthus October 18th, 2005, 05:05 PM actually, there is another way which you could walk thru Marina City Park to Sheares Bridge. :)
Glad the weather improved for you cos I remember the rain started to pour after 5.30pm
Mr.ASAP October 18th, 2005, 05:14 PM actually, there is another way which you could walk thru Marina City Park to Sheares Bridge. :)
Glad the weather improved for you cos I remember the rain started to pour after 5.30pm
yes i walked through the Marina bay park....when it was sunshiine after the rain :) so big and so deserted the park.... :( (perhaps not in a few years time:)) was a very long walk .....
another picture of ORQ :)
http://img82.imageshack.us/img82/306/img19018ul.jpg
seems like this building has a lot of open space :)
RafflesCity October 19th, 2005, 12:39 AM the shorter tower is really quite big! :eek:
RafflesCity October 22nd, 2005, 02:32 PM 22 October 2005
http://img481.imageshack.us/img481/8062/rq22106au.jpg (http://imageshack.us)
hyacinthus October 22nd, 2005, 02:40 PM It's quite scary watching the workers putting up the facade piece by piece... imagine the a piece of the facade drops? or one of the workers fall from there... :eek:
When do you think both towers will top up? I can't see how many floors they have built already and how many more to go.
RafflesCity October 22nd, 2005, 02:43 PM I'm sure it should top out by end of the year...provided it doesnt rain so much (or maybe that doesnt affect it)
too bad there were already some accidents
redstone October 22nd, 2005, 04:16 PM http://img365.imageshack.us/img365/4130/d1ub.jpg
My version. :D
redstone October 22nd, 2005, 04:23 PM I think it might be time to rename the development Raffles Quay Tower or something... :yes:
So many 'Ones'.
One Marina Boulevard (NTUC Centre)
One George Street
One Raffles Quay
hyacinthus October 22nd, 2005, 04:25 PM One Redstone. :D
Pedrillo October 22nd, 2005, 04:48 PM today :)
http://img232.imageshack.us/img232/3527/img19288hv.jpg
Wow!!! Impressive construction site!!
Mr.ASAP October 22nd, 2005, 06:01 PM @Pedrillo
hmmm actually that is not the construction site for the One Raffles Quay ... its the construction site for the upcoming BFC (business & Financial Centre)
here is a clearer image as to where that photo was taken from :)
http://img443.imageshack.us/img443/8502/paranoma55dl.jpg
RafflesCity October 22nd, 2005, 06:03 PM heh..the grass has grown wild! :eek:
yah the future BFC will be the next big thing once Raffles Quay and the Sail get completed. Right now theyre finishing off the first phase of the Common Services Tunnel.
Mr.ASAP October 22nd, 2005, 06:14 PM heh..the grass has grown wild! :eek:
Yes ! :D :D :D Marina bay area seriously need lots of gardening to do ......badly needs it ......and Marina Bay city park is also undergoing some renovations ......hope it will look much better the next time i visit that area again lol :D the grass have grown to up to about knee length ! :D i wil see if i have anymore of these grass pictures :D
RafflesCity October 23rd, 2005, 08:36 AM ok :)
Rentals for prime office space edge up
23 Oct 05
Limited supply allows new kid on the block, One Raffles Quay, to ask for as much as $7.50 psf
By Joyce Teo
Property Correspondent
LATELY, some glitzy luxury apartments have been hogging the limelight after commanding sky-high sale prices.
But records are also quietly being set in another niche of the property market: office rentals in top-end commercial space such as the soon-to-be-completed One Raffles Quay.
Because of a limited supply of new large, prime office space - a state of affairs that is expected to continue for the next few years - the new kid on the block, One Raffles Quay, is enjoying quite a bit of attention.
Asking rents there now average $6.50-$7.50 per sq ft (psf), though deals so far are believed to have been signed for less than $7 psf. The 1.3 million sq ft, two-tower project will be completed in phases in April and October next year.
Yet, already, more than 50 per cent of the floor space has been leased out, and the tenants include big names such as ABN-Amro, Deutsche Bank and UBS.
Said the general manager of Raffles Quay Asset Management, Mr David Martin: 'We've come out of a prolonged downturn. Only five years ago, rents were above $6 to $7 psf.
'We want to be heading the market, along with other major buildings,' he added.
Deals for another 20 per cent or so of the project are being negotiated, and should be finalised by the end of the year, said Mr Martin.
New buildings are typically in demand, though One Raffles Quay alone constitutes more than half of the 2.5 million sq ft or so in known new office space that is expected to come onto the market by 2008.
However, that is only about a quarter of the floor space that would typically be expected to be completed over this period, said property consultancy CB Richard Ellis (CBRE).
The project is being developed by a consortium equally owned by Cheung Kong (Holdings), Hongkong Land and Keppel Land - the same team that is developing the Business and Financial Centre, which could add another 2.8 million sq ft of new space starting from 2009-2010.
Apart from limited supply, office rents are rising in line with an improving economy, growth in financial services and more hiring by the services sector, said CBRE.
Its executive director, Mr Moray Armstrong, argues that the conditions are now ripe for Singapore's office landlords to enjoy a period of impressive rental growth, though tenants have so far had a 'fair degree of success' in resisting major rental hikes.
He said the lack of price rises was a result of tenants and landlords having become conditioned by the low-rent environment over the past few years.
Average prime office rents in the third quarter stood at $4.90 psf a month, up 4.3 per cent since the second quarter.
Rents in Grade A or top grade prime office space such as Six Battery Road and Republic Plaza moved up 7 per cent to $5.25 psf in the third quarter.
The figure was $4 psf at end-2003 and $4.40 psf at the end of last year. The current level is still almost 50 per cent below 1996-1997 levels, when the market was booming, noted CBRE.
Nevertheless, these bargain basement rents will not last long as tenants - mostly financial services firms, wealth management companies, and accounting and law firms - look for bigger space in which to grow, said property consultancy Cushman & Wakefield's managing director, Mr Donald Han.
New buildings have bigger floor plates, which are attractive to large firms.
One George Street is enjoying good demand, and at 3 Church Street, which will be completed early next year, talks on a deal for a big anchor tenant, which may take up as much as 70 per cent of the space, are ongoing, consultants said.
'We might be revisiting the 2000 peaks in about a year,' Mr Han said. He noted that, in 2000, effective prime rents averaged $7 psf. Certainly, 'the office market is the star performer in 2005', he added.
shao_ye October 23rd, 2005, 08:16 PM http://img.photobucket.com/albums/v321/shao_ye/tallest3_5thcmingsoon.jpg
160905
ncon October 25th, 2005, 05:17 AM Sorry for the big pics :D
Construction updates and Impact on the skyline 241005
http://img472.imageshack.us/img472/3954/dsc02680edited7mf.jpg
redstone October 25th, 2005, 06:27 AM Oh WOW!!!!! :eek2: :banana::cool:
Can be a wallpaper!!!! :D
Very nice!!!!
ncon October 25th, 2005, 06:48 AM ^^ Thanks :D
shao_ye October 26th, 2005, 03:45 PM http://img.photobucket.com/albums/v321/shao_ye/sky.jpg
redstone October 26th, 2005, 04:03 PM Very unique and creative perspective! :cool: :D
Looks like there's slums by the sea... :eek::lol:
RafflesCity October 27th, 2005, 10:01 AM nice view from East Coast :)
RafflesCity October 27th, 2005, 10:16 AM RZB, SG join firms committing to take up space in ORQ
27 Oct 05
ONE Raffles Quay (ORQ) continues to attract tenants. The latest are RZB Bank of Austria and Societe Generale (SG), who are taking up about 18,000 sq ft and 40,000 sq ft, respectively, in the project's North Tower, which is slated for completion in October 2006.
http://business-times.asia1.com.sg/mnt/media/image/launched/2005-10-27/krnew27-201513.jpg
Several asset management companies have also taken up three floors adding up to 54,000 sq ft in the same tower, sources have told BT.
And market talk is that Ernst & Young (E&Y) could be a hot new tenant for ORQ. The accounting giant is looking at taking up at least 120,000 sq ft at ORQ or 3 Church Street. The latter is expected to be completed in January.
Right now, bets are that E&Y will probably make its way to ORQ, given that it is a more prestigious location, being part of the New Downtown shaping up around the Marina Bay area.
The firm now occupies more than 120,000 sq ft at Ocean Building at Collyer Quay and Keppel Towers in Hoe Chiang Road. Its leases in both buildings expire late next year, around the same time ORQ's North Tower is expected to be completed, making it ideal for a move to the new location.
Of course, E&Y could decide to stay put and renew its existing lease at Ocean Building and Keppel Towers - both owned by Keppel Land - if the latter is willing to offer attractive rentals, market watchers say.
If, indeed, E&Y moves to ORQ, it will not be a complete loss for KepLand either since it has a one-third share in the consortium that is developing ORQ. The same consortium also clinched the nearby mega Business and Financial Centre site in July. Sources say SG has committed to take up about 40,000 sq ft in ORQ's North Tower, where it will house its private banking business. And it may consider expanding its space requirements at the new location, the sources suggest.
ORQ, with a total net lettable area of 1.3 million sq ft in two towers, is now about 60 per cent let, and this figure is expected to rise to 70 per cent if E&Y signs up. Major tenants that have signed up so far are ABN Amro and Deutsche Bank - who are taking up about 160,000 and 180,000/190,000 sq ft, respectively, in the shorter, 29-storey South Tower - and UBS, which will occupy 180,000 sq ft spread across the top 10 floors of the 50-storey North Tower.
Market watchers expect both towers to be fully let by completion. South Tower is slated for completion around April next year.
Monthly gross rents in the development have risen from $4 to over $6 per sq ft in the past 18 months. Rents are expected to go higher still as the remaining space is let and the project nears completion.
redstone October 27th, 2005, 11:09 AM October 2006???!!! :eek:
Mr.ASAP October 27th, 2005, 11:55 AM October 2006???!!! :eek:
yeah didnt expect ot such a late date i thought perhaps late June 2006, as the internal fixtures and fittings should not take that long ...... maybe the elevators need more time for certification :):) always that way.....
149 October 27th, 2005, 05:03 PM October 2006???!!! :eek:
Maybe the article meant occupancy rather than completion. Either that or they are really expecting more worksite mishaps *touchwood* that will delay the project even more.
rark October 28th, 2005, 08:53 AM 27-10-2005
http://img471.imageshack.us/img471/7475/1rafflesquay27thoctober20057si.jpg
aloyteo October 28th, 2005, 08:59 AM i know where the pic is taken from, esplanade rooftop right? can see the security cam...
rark October 28th, 2005, 09:01 AM :D
redstone October 28th, 2005, 09:08 AM I like the way how it's tilted.
Breaks the otherwise linear row of skyscrapers. :cool:
nolimit October 30th, 2005, 06:34 AM Picture taken on 29/10/05. The core has topout and seems like progress has slow a little at the top.
http://www.geocities.com/unixxi/img_0860.jpg
RafflesCity October 31st, 2005, 02:59 PM I cant wait till they start cladding the base
also theres now a huge signboard advertising office space
nolimit November 1st, 2005, 06:31 PM Pic taken 01 Nov 05.
http://www.geocities.com/unixxi/img_0902.jpg
shao_ye November 1st, 2005, 08:03 PM ^ me like that pic... progress clearly seen... has the taller tower reached the top? it looked kindda dull and boring... boxy, nothing speical other that its glass cladding...
Pengui November 5th, 2005, 02:18 PM This pic taken from East Coast gives a pretty clear idea of how it will impact the skyline.
http://membres.lycos.fr/pengui/ssc/051103_skyline01.jpg
(taken on 3rd of November)
hyacinthus November 5th, 2005, 05:23 PM hmmm... looks rather spaced out...
Cliff November 6th, 2005, 09:19 AM http://img144.imageshack.us/img144/4923/construct7gc.jpg
JoSin November 6th, 2005, 10:22 AM very nice...very nice...i cant wait for october next year to arrive.......:):):)
RafflesCity November 8th, 2005, 12:17 AM This pic taken from East Coast gives a pretty clear idea of how it will impact the skyline.
http://membres.lycos.fr/pengui/ssc/051103_skyline01.jpg
(taken on 3rd of November)
^^
amazing pic :-)
Pengui November 8th, 2005, 04:14 AM amazing pic :-)
Are you going ASCII too or what ? :-)
ncon November 10th, 2005, 10:35 AM 9 Nov 2005
http://img301.imageshack.us/img301/1497/dsc030026pd.jpg (http://imageshack.us)
shao_ye November 10th, 2005, 11:51 AM ^ thats scary... look like collapsing... :runaway:
rark November 17th, 2005, 05:14 PM 17 Nov 2005
http://img460.imageshack.us/img460/3972/1rafflesquay17nov4bq.jpg
redstone November 17th, 2005, 06:02 PM Creepy canyon...:runaway:
RafflesCity November 22nd, 2005, 10:42 AM 20 November 2005
http://img.photobucket.com/albums/v427/rotpics03/rq2011a.jpg
http://tinypic.com/fykikh.jpg
Pengui November 22nd, 2005, 12:06 PM Those are superb pics :-)
redstone November 22nd, 2005, 04:59 PM Somehow I hate the idea of 3 towers looking alike...
Pengui November 23rd, 2005, 04:09 AM Somehow I hate the idea of 3 towers looking alike...
Well I like it :-) And even ORQ 1 and 2 don't look the same as they are at an angle. NTUC surely looks quite different.
This being said, I hope that will end the trend, 3 green glassy is enough :-)
PJCCUK November 23rd, 2005, 07:34 AM I'm not keen on the three in a row thing either, and hopefully the sail with break the look. Also, I do hope the BFC isn't the same colour scheme.
However, when the area is fully developed, with the park, towers behind and to the right of 1RQ we'll probably end up not focussing much on 1rq, will just be another filler in the background of what's becoming a great skyline. Let's just keep our fingers crossed for any colour but green.
ncon November 24th, 2005, 02:58 PM 24 Nov 2005
http://img293.imageshack.us/img293/4866/dsc033071bk.jpg (http://imageshack.us)
redstone November 24th, 2005, 08:52 PM It had reached max!!!!! :banana:
:dance: :dance: :dance: :dance: :dance: :dance:
:banana: :rock: :dj: :banana2:
asciano November 25th, 2005, 12:33 AM I believe the lower tower has reached its max--eyeballing yesterday it seemed to be at least 32 storeys.
I couldnt try to count the taller tower. If it is at its max, it seems surprisingly low
JoSin November 25th, 2005, 08:46 AM I saw it today, the shorter tower is still left with one floor.....
TG November 25th, 2005, 04:29 PM Anybody knows why the developer didn't want to build higher than 33 storey for the South tower ? I thought it make sense to be as tall as the North tower (245m) given the grade A office is expected to be in short supply.
RafflesCity November 25th, 2005, 05:55 PM ^^
heard that it was originally meant to be 280m tall (but in retrospect that would have made the skyline boring)
I too agree that enough green, this is nice enough to create a relaxing feel when you look at it, but anymore of this tone will be overkill, and once the Sail is ready, your attention will be drawn away from this boxy skyline-filler.
Pengui November 28th, 2005, 05:13 AM Anybody knows why the developer didn't want to build higher than 33 storey for the South tower ? I thought it make sense to be as tall as the North tower (245m) given the grade A office is expected to be in short supply.
Maybe it has something to do with the max buildable GFA ? The plot is not that big.
Pengui December 3rd, 2005, 12:31 PM Not very up to date but oh well :-)
26th November
http://membres.lycos.fr/pengui/051126_orq02.jpg
babystan03 December 6th, 2005, 12:09 PM Business Times - 06 Dec 2005
One Raffles Quay secures Ernst & Young as tenant
It will lease about 140,000 sq ft. Another new tenant Barclays will lease about 50,000 sq ft
By KALPANA RASHIWALA
ERNST & Young is understood to have accepted an offer from the consortium developing One Raffles Quay (ORQ) to lease 140,000 sq ft in the development's North Tower, sources have told BT.
ORQ has also clinched Barclays Bank as a tenant. It will lease about 50,000 sq ft, or about one and a half floors, in the development's shorter South Tower, which is expected to be ready in a few months. The North Tower is slated for completion late next year.
In addition, Deutsche Bank, which has already signed up as a tenant at ORQ for about 170,000 sq ft, is said to be in talks to take up an additional 75,000 sq ft, all in the South Tower.
BT understands that the latest signings for Barclays and Ernst & Young are at gross monthly rentals of $6 to $6.50 psf. This does not include rent-free periods and other concessions that may have been given to the tenants. When ORQ first began signing up tenants more than a year ago, the figure was $4 psf a month.
'We expect rents to move up north of $7 psf in 2006,' said Robert Garman, head of commercial property (South Asia) at Hong Kong Land, which has a one-third share in the ORQ consortium. He declined to confirm the latest tenants at the development, or the rents they'll pay, when contacted by BT. 'We expect to be 65 to 70 per cent let by the end of this year,' was about all Mr Garman would say.
ORQ's 29-storey South Tower, with about 565,000 sq ft of net lettable area, is slated for completion around Q1 next year. The 50-storey North Tower, with 770,000 sq ft net lettable area, is expected to be completed around Q3 next year.
Tenants who have signed up for the South Tower include Barclays Bank plc, ABN Amro and Deutsche. The North Tower tenants include UBS, Ernst & Young, RZB Bank of Austria, Societe Generale, hedge fund Orient Services, Capital Group unit Capital International, Jardine Lloyd Thompson and Fitness First Plus gym.
Barclays, which currently has operations at Capital Square and The Atrium@Orchard, is expected to stay put at those locations. The new space it will take up at ORQ will be for an expansion of its operations, say sources.
In contrast, Ernst & Young will be moving out of its existing premises at Ocean Building at Collyer Quay and Keppel Towers in Hoe Chiang Road when its leases expire late next year and move into ORQ's North Tower, which should be ready around the same time.
Office industry sources suggest that all the banks that have made commitments at ORQ are expected to take up more space than they had initially planned for, given that banks have been expanding their presence in Singapore. The trend is expected to continue.
'We will see more international banks increasing their footprints in Singapore next year - for both front-office and back-end infrastructure and support functions,' predicts a property consultant familiar with banks' leasing requirements.
After ORQ's completion by late next year, there will be no new major office projects in the Central Business District until the first building at the Business and Financial Centre (BFC) is ready by 2009 or 2010.
The ORQ consortium - whose members besides Hongkong Land are Keppel Land and Li Ka-shing's Cheung Kong Holdings - essentially comprises the same team which is also also developing the BFC project nearby. 'We've received several enquiries with regard to the BFC project,' Mr Garman said.
Copyright © 2005 Singapore Press Holdings Ltd. All rights reserved.
RafflesCity December 7th, 2005, 04:24 PM I believe theyre now working on the 'fin' for the shorter tower on the side facing Shenton Way.
redstone December 13th, 2005, 07:05 PM What fin? :eek:
RafflesCity December 14th, 2005, 07:44 AM Look at the rendering of the shorter tower, there is some kinda roof structure at the top...
Cliff December 18th, 2005, 12:06 PM Has the taller one topped out?
RafflesCity December 19th, 2005, 04:06 PM I think it has reached maximum height, just cladding going up the shorter one :)
babystan03 December 21st, 2005, 10:25 AM Some sexy renderings....:D
North Tower
http://www.orq.com.sg/media/popup_northtower_lobby.jpg
South Tower
http://www.orq.com.sg/media/popup_southtower_lobby.jpg
The plaza
http://www.orq.com.sg/media/popup_theplaza01.jpg
Retail Link
http://www.orq.com.sg/media/popup_retaillink01.jpg
Night view
http://www.orq.com.sg/media/popup_nite.jpg
Lift Lobby
http://www.orq.com.sg/media/popup_lift_lobby_2.jpg
http://www.orq.com.sg/prototype/index_gallery.html
JoSin December 21st, 2005, 01:29 PM When will it be ready???
RafflesCity December 21st, 2005, 04:02 PM It will open next year I guess...maybe in the middle of next year
The underground connection to Raffles Place MRT will also be opening
babystan03 December 30th, 2005, 06:52 PM One Raffles Quay at night (30/12/05):
http://i26.photobucket.com/albums/c121/ylstan01/City%20landscape/DSC014111.jpg
Bahraini Spirit December 31st, 2005, 12:46 AM This one is nearly done from the outside.
It's great to see that this one secured big clients.
hyacinthus January 3rd, 2006, 02:38 PM 3 Jan 2006
http://img100.imageshack.us/img100/6770/dscn24856rb.jpg
RafflesCity January 3rd, 2006, 02:40 PM nice and simple...although bigger than its neighbours, it seems to blend effortlessly in
@bbstan, nice night shot :cool:
babystan03 January 3rd, 2006, 03:15 PM ^ Thanks....:yes:
redstone January 3rd, 2006, 04:23 PM People's Park looks oddly beside skyline. :lol:
Mr.ASAP January 3rd, 2006, 06:36 PM yes the first tower or the fatter one is near completion ....just left like one or two panels to fit in if not its a complete building :D from ECP view :) ...... the main tower still has got some work to do :)
at least this time the building of 1ORQ isnt like Maybank tower (next to fullerton) where it was a complete eyesore during its construction...still remember the terrible looks it cause to the skyline....
hyacinthus January 5th, 2006, 03:32 PM Taken by a china-based freelance photographer and currently working on a singapore project.
View from 46th floor of 1 Raffles Quay!
http://stars.vip.sina.com/singapore/1.jpg
His website: http://www.999kg.com/
redstone January 5th, 2006, 04:58 PM :eek2::eek2::eek2::eek2::eek2:
He works there????
nolimit January 22nd, 2006, 06:38 PM 22.01.06
ORQ looking really sleek now !
http://www.geocities.com/unixxi/img_0093.jpg
http://www.geocities.com/unixxi/img_0099.jpg
http://www.geocities.com/unixxi/img_0103.jpg
Mr.ASAP January 23rd, 2006, 09:14 AM this was 4 months ago :):) :D
http://img30.imageshack.us/img30/3987/img18981lu.jpg
ignoramus January 23rd, 2006, 02:49 PM ORQ looks sleek. That's the way I like it. Who cares if its boxy. It has the futuristic 21st century look and I like it. Glass glass and more glass... Singapore probably only has a couple of fully glass buildings in the business district that I can think of.
Cliff January 23rd, 2006, 03:41 PM WOW! That pic from the top of ORQ is amazing!!!!!
ahlipp January 29th, 2006, 04:52 AM my first pic...
http://img.photobucket.com/albums/v654/ahlipp/DSCF1775.jpg
RafflesCity January 29th, 2006, 01:15 PM ^^
thats one of my favourite dramatic angles
28 January 2006
the fin of the shorter tower being cladded up
http://img77.imageshack.us/img77/2994/rq28015xu.jpg
Mr.ASAP January 29th, 2006, 07:47 PM well the main tower is finshing up....they left about 3 more stories of glass cladding to do before it looks complete.....
sorry but this image was taken from my phone.....didnt have my camera with me....so yes apologies for poor picture quality..you know cellphone cameras has no optics, no possiblity to adjust exposure etc etc :D
but this is also how much of an impact this building is doing onto the skyline....
http://img506.imageshack.us/img506/8456/edit15eq.jpg
Sail@marina bay...please hurry up with your construction!!!! :D
Chad January 29th, 2006, 08:00 PM Considering, these two has been built really fast!!!...:cool:
hyacinthus February 9th, 2006, 05:13 PM 8 Feb 2006
Last few pieces to deliver?
http://img100.imageshack.us/img100/6508/dscn27659qb.jpg
How much longer to go?
http://img100.imageshack.us/img100/1908/dscn27688rt.jpg
The tenants have started advertising on the hoardings...
http://img100.imageshack.us/img100/7315/dscn27717sh.jpg
hyacinthus February 9th, 2006, 05:16 PM 8 Feb 2006
More pictures...
http://img100.imageshack.us/img100/5108/dscn27732na.jpg
http://img100.imageshack.us/img100/2324/dscn27872ay.jpg
http://img100.imageshack.us/img100/844/dscn27767ib.jpg
http://img100.imageshack.us/img100/1664/dscn27757tn.jpg
Cliff February 9th, 2006, 06:01 PM HUGE!!!!!!!!!!
redstone February 9th, 2006, 07:52 PM Hya, post in world forums. :D
ncon February 10th, 2006, 04:19 AM last pic is the best :okay:
hyacinthus February 11th, 2006, 03:50 PM ^Thanks :)
11 Feb 2006
Let's see how long it takes to complete the top.
http://img100.imageshack.us/img100/5436/dscn29638zj.jpg
redstone February 11th, 2006, 05:03 PM Where did you zoom this from? :eek:
babystan03 February 14th, 2006, 10:54 AM ORQ (12/2/06)
http://img376.imageshack.us/img376/1860/dsc0175917pj.jpg
http://img102.imageshack.us/img102/2421/dsc0176012iy.jpg
RafflesCity February 15th, 2006, 07:22 AM I wonder what theyre constructing right at the top...hope this building can have some lighting at night.
Mr.ASAP February 15th, 2006, 11:52 AM I wonder what theyre constructing right at the top
maybe they are building the similar fin to that of the opposite tower? hope that the front facade will really look ''separated'' from the building at night :) and i really want to visit the atrium :D
http://www.meinhardt.com.sg/admin/project_images/OneRafflesQuayWebsite.jpg
redstone February 15th, 2006, 01:09 PM Blue glass.....
ahlipp February 15th, 2006, 04:19 PM best word to describe the color... bluish green or greenish blue..
redstone February 15th, 2006, 04:26 PM Lipp's back! :eek::D
JediAlf February 16th, 2006, 04:49 AM I really wonder how the heck they are gonna remove these cranes as their "stem" are inside the building...
Remove by helicopter? or super giant mobile crane to remove it?
:)
RafflesCity February 16th, 2006, 03:26 PM I really wonder how the heck they are gonna remove these cranes as their "stem" are inside the building...
Remove by helicopter? or super giant mobile crane to remove it?
:)
I thought they would dismantle it bit by bit and transport it down by the lift?
not sure...
Pengui February 16th, 2006, 06:03 PM I think typically, a third and smaller temporary crane is installed by the tower cranes. Once this is done, the tower cranes are dismantled and taken down by the smaller one which is then dismantled and taken down using the construction lift.
hyacinthus February 19th, 2006, 09:08 AM 19 Feb 2006
http://img100.imageshack.us/img100/5443/20050219orq3qy.jpg
babystan03 February 19th, 2006, 09:09 AM Wah so close.....:eek:
redstone February 19th, 2006, 10:22 AM Looks like the top floor is super high?
rark February 19th, 2006, 10:42 AM nice pic hya!
hyacinthus February 20th, 2006, 02:45 AM Think the views on its top most floors will be really nice. This building doesn't seem to have skyrise gardens though.
I hope to see a restaurant/bar operating on the topmost floor of ORQ with an alfresco section facing the sea and operates 24/7. :D
JediAlf February 20th, 2006, 03:01 AM Wow. These two tower cranes are now without support stems, left just on the concrete floor - magnificent machines that we took for granted. The stems are already disassembled. Second crane is already outside the support stem, taking out the last pieces of stem. Construction lift is also taken out. Cannot figure how they take the last crane machine with cabin out after it takes out the first crane...
Are they gonna leave this last crane machine in the tower, just like bored tunnel machines that are normally left behind behind the wall after the tunnels are completed?
hyacinthus February 20th, 2006, 04:00 AM right... amazing... Think they probably complete the lifting "arm" on top of the building to lower those machines to the ground.
Just a wild guess cos I see those "arms" on tall buildings like UOB, OUB and Republic Plaza for lifting equipments like gondolas. Not sure if the weight is too much to handle or not. :D
ncon February 20th, 2006, 08:39 AM wow :eek2: great updates !
ignoramus February 25th, 2006, 11:00 AM 1 Raffles Quay
Saturday, 25 February 2006
© ignoramus
http://img114.imageshack.us/img114/2050/dsc001134cl.jpg
redstone February 25th, 2006, 02:01 PM Looking great!
shao_ye February 25th, 2006, 06:58 PM ^ somehow hor, that photo looks more like some computer generated graphics... kindda cool...
ignoramus February 28th, 2006, 02:26 PM 1 Raffles Quay & The Skyline
Saturday, 25 February 2006
© ignoramus
http://img157.imageshack.us/img157/4012/dsc001146ir.jpg
aloyteo February 28th, 2006, 03:00 PM nice. the top seems so so long to complete....
JoSin March 1st, 2006, 04:15 PM I went to the city today, and I saw the top seen from the esplanade has been placed with the windows.
RafflesCity March 2nd, 2006, 03:36 PM It looks amazing...depending on whether the sun is shining on it, and yes, a portion of the top has been fully cladded as of today :)
baqthier March 2nd, 2006, 07:44 PM My contribution
:cool:
http://i2.tinypic.com/oupfk2.jpg
http://i2.tinypic.com/oupe8w.jpg
http://i2.tinypic.com/oupen5.jpg
hyacinthus March 4th, 2006, 02:34 PM nice :)
1 Mar 2006
http://img100.imageshack.us/img100/8890/0010he.jpg
http://img100.imageshack.us/img100/4870/dscn31162hq.jpg
3 Mar 2006
http://img100.imageshack.us/img100/6808/dscn31180wt.jpg
RafflesCity March 4th, 2006, 04:34 PM nice pics baq & hya :)
looks like the top will be quite elegantly tapered off
redstone March 4th, 2006, 04:40 PM Wah... wonder what would be up at the top. :eek:
aloyteo March 4th, 2006, 04:45 PM taken today from esplanade. can see that one side of the top is almost fully cladded with glass. not too long to wait... but can only admire the building for another year or two b4 the sail blocks it partially...
http://img450.imageshack.us/img450/6526/crw2335custom5ae.jpg
RafflesCity March 4th, 2006, 04:47 PM ^^
The Sail will not block it from the angle you took it from though :)
Lovely colours!
babystan03 March 11th, 2006, 05:14 PM 11/03/06:
http://i26.photobucket.com/albums/c121/ylstan01/City%20landscape/DSC021471.jpg
Chad March 11th, 2006, 05:16 PM Wow, I like the color a lot! :)
babystan03 March 14th, 2006, 02:27 PM Looks bluish at night
http://i26.photobucket.com/albums/c121/ylstan01/City%20landscape/DSC021931.jpg
Kaiser March 14th, 2006, 02:38 PM ^^beautiful!
Mr.ASAP March 16th, 2006, 03:30 PM 5 days from the previous update and noticable change is they have completed the 4th frame :)
http://img85.imageshack.us/img85/9102/orq15pi.jpg
Mosaic March 22nd, 2006, 10:46 AM wow!!almost completed.
RafflesCity March 22nd, 2006, 03:39 PM theyre now working on a canopy at the base that spreads outwards
baqthier April 5th, 2006, 08:17 PM Latest pic? :cool:
RafflesCity April 7th, 2006, 05:57 AM CBRE sees rising rents in prime areas
7 Apr 06
By KALPANA RASHIWALA
CB Richard Ellis (CBRE) has painted a picture of tightening prime office space and rental escalation here.
The firm, in a report released yesterday, says that the monthly average Grade A rent in the Raffles Place and Marina Centre locations rose 5.3 per cent quarter-on-quarter in the first three months of the year to hit $6 psf.
The firm is predicting that the figure will continue rising to $7.20 psf by end-2006, reflecting a 26.3 per cent increase for the whole of this year, after last year's 23.4 per cent gain. The figure is now almost 32 per cent higher than the early-2004 trough of $4.55 psf.
The vacancy rate of Grade A office space in the Core CBD area - comprising the Raffles Place, Shenton Way and Marina Centre locations - continued to dip to 4.9 per cent as of end-March, from 7.5 per cent three months earlier.
Net new office demand is expected to remain firm at around two million sq ft. This year's new supply is expected to be about 1.54 million sq ft, with the bulk of it coming from One Raffles Quay (ORQ).
The 1.33 million sq ft project is approaching 90 per cent commitment rate. Rents at ORQ have doubled since leasing began in late 2004, with rents now being set above $8 psf, says CBRE executive director Moray Armstrong, whose firm is marketing ORQ.
Despite this steep rental rise, he is not fearful that the Singapore office market is in danger of being overpriced in the race to attract big office tenants to the island.
Mr Armstrong said: 'Current Grade A office rentals in Singapore still represent a significant discount to comparable buildings in the region, most notably in Hong Kong where MNCs will pay about three times the rent they have to pay in Singapore.'
New tenants at ORQ include Barclays Capital, Norton Rose, Reuters and Rothschild. BT understands that Deutsche Bank will be doubling its take-up in the development to 290,000 sq ft. Mr Armstrong would not be drawn into confirming that Deutsche Bank is doubling its space in the project.
The project's 29-storey South Tower, where Deutsche Bank will be housed, is expected to receive Temporary Occupation Permit (TOP) in a few weeks. The 50-storey North Tower is slated for TOP in October. Office space on the island is expected to remain tight over the next few years until the first phase of the Business & Financial Centre is ready around late 2009 or early 2010.
CBRE predicts that over the next three years, large occupiers in the Central Business District may be forced to split operations as they run out of space for 'client-facing' front-office departments.
Cliff April 7th, 2006, 07:11 AM Latest pic? :cool:
Opps, forgot to post in the singapore thread. Not the latest, but the latest I can get.
http://img104.imageshack.us/img104/6212/orq9xp.jpg
baqthier April 7th, 2006, 12:44 PM ^ fabulous cliff! :)
Cliff April 7th, 2006, 05:20 PM Thanks! Today, looks like they are wrapping up the 2nd last floor
http://img341.imageshack.us/img341/971/orq3pr.jpg
babystan03 April 7th, 2006, 05:46 PM How it fares against the rest....:D
http://i38.photobucket.com/albums/e126/ylstan02/City%20Landscape/DSC_0012.jpg
Cliff April 7th, 2006, 05:49 PM WOW! I love the addition to the skyline, looks so perfect, and perfect things come ever so rarely.
your pis is perfect too:D (but abit grainy, tsktsktsk)
babystan03 April 7th, 2006, 05:50 PM WOW! I love the addition to the skyline, looks so perfect, and perfect things come ever so rarely.
your pis is perfect too:D (but abit grainy, tsktsktsk)
Yeah loh....grainy due to compression....:(
YunuS April 7th, 2006, 09:23 PM At afternoon en night, this building is very very nice!
babystan03 April 8th, 2006, 03:39 AM A closer look
http://i38.photobucket.com/albums/e126/ylstan02/City%20Landscape/DSC_0011.jpg
Mr.ASAP April 8th, 2006, 04:33 PM same date of update :D different angle.... they have finished the side facade :) work seems to be slowing down by a lot on the top
http://img469.imageshack.us/img469/2041/orqedited5qn.jpg
RafflesCity April 9th, 2006, 12:43 PM 9 April 2006
It looks done on the other side now :)
http://img138.imageshack.us/img138/5231/rq09049kg.jpg
babystan03 April 9th, 2006, 01:13 PM Looks quite nice from that angle.....:cool:
RafflesCity April 16th, 2006, 01:57 PM Another angle
15 April 2006
http://img.photobucket.com/albums/v133/RafflesCity/rq1504.jpg
babystan03 April 16th, 2006, 01:59 PM The building goes rather well with the park....:yes:
Pengui April 16th, 2006, 04:46 PM Yes but it is SO anonymous. Oh well, I suppose once the Sail, BFC and the casino are completed, everyone will just forget about this skyline-filler arrived before its time ^ ^
babystan03 April 22nd, 2006, 07:30 PM Lights off on Sat night (22/4/06):
http://i38.photobucket.com/albums/e126/ylstan02/70-300mm/DSC_0083.jpg
baqthier April 22nd, 2006, 07:40 PM awesome! Is the base done already?
RafflesCity April 23rd, 2006, 02:21 PM The base of the taller block is still uncladded yet...and I think the base will have a curved canopy.
As for the shorter block, the base is almost finished and its top fin has white lighting. The shorter block should open for business first.
babystan03 April 23rd, 2006, 02:35 PM The base of the taller block is still uncladded yet...and I think the base will have a curved canopy.
As for the shorter block, the base is almost finished and its top fin has white lighting. The shorter block should open for business first.
I wonder if they would install any special lighting for the building?? :?
RafflesCity April 23rd, 2006, 02:36 PM I wonder if they would install any special lighting for the building?? :?
The shorter block HAS special lighting for its fin...I'm sure the taller block would have it too....especially with all this emphasis on special lightings :yes:
babystan03 April 23rd, 2006, 02:38 PM Sounds good.....:D
babystan03 April 28th, 2006, 12:15 PM Business Times - 28 Apr 2006
New Reuters office at One Raffles Quay
Move will free up room for new staff to join them
By CONRAD TAN
REUTERS, the London-based news and financial information provider, is setting up a new office at One Raffles Quay as it continues to expand its Singapore operations.
The office, spanning some 18,000 sq ft on the 28th floor of the One Raffles Quay building's north tower, will house client training and demonstration facilities, as well as disaster recovery and editorial functions.
Reuters managing director for Asean, Edward Haddad, told BT that around 100 staff will move into the premises when it opens sometime early next year.
The staff will come from Reuters' existing facility at the Singapore Science Park, which will remain in operation. But Reuters' downtown sales office and training facility in the OUB building at Raffles Place will close when the new office opens.
The company, well known for its financial data computer applications as well as news services, has been busy developing new, 'thin-client' applications that can be delivered over an Internet browser.
Such applications would substantially increase the potential client base for the company's products and services, particularly in Asia, said Mr Haddad.
He said the expansion in office space was necessary to accommodate the growth.
The move will also free up room for new staff to join Reuters, he said.
Its staff strength in Singapore has grown from 539 in 2004 to 618 last year, and is expected to reach 767 by the end of the year.
Singapore is one of three global data warehouses for Reuters which delivers high-speed financial data and news to its clients around the world for trading, portfolio management, risk management and other purposes.
Last year, the company set up its global pictures editing desk and global sports desk at its Science Park office.
The desks provide 24-hour support for its team of photographers, editorial staff and clients around the world.
Copyright © 2005 Singapore Press Holdings Ltd. All rights reserved.
RafflesCity April 29th, 2006, 07:37 AM Office demand seems really good now....besides the BFC who knows maybe the government may decide to release more downtown sites for office use :happy:
babystan03 April 29th, 2006, 05:42 PM Some updates on 29/4/06:
(Taken at different time, hence slightly different colour)
1.
http://i38.photobucket.com/albums/e126/ylstan02/Sigma/DSC_0208.jpg
2.
http://i38.photobucket.com/albums/e126/ylstan02/Sigma/DSC_0063.jpg
babystan03 April 29th, 2006, 06:22 PM Its neighbours.....:D
http://i38.photobucket.com/albums/e126/ylstan02/Sigma/DSC_0060.jpg
babystan03 April 30th, 2006, 02:14 AM Another one...:D
http://i38.photobucket.com/albums/e126/ylstan02/Sigma/DSC_0062.jpg
ahlipp April 30th, 2006, 04:23 AM for now it looks like a tall basketball player wearing a long t-shirt without any pants
babystan03 April 30th, 2006, 04:25 AM ^:lol:
nolimit April 30th, 2006, 06:50 PM http://img148.imageshack.us/img148/4587/img02047zt.th.jpg (http://img148.imageshack.us/my.php?image=img02047zt.jpg)
Taken on 30/04/06
hyacinthus May 1st, 2006, 09:56 AM @babystan
using a Sigma 10-20mm lens?
1 May 2006
http://img100.imageshack.us/img100/4373/dsc00017as.jpg
http://img100.imageshack.us/img100/6042/dsc00028zp.jpg
babystan03 May 1st, 2006, 10:03 AM ^ Wah how did u know?? :eek:
hyacinthus May 1st, 2006, 10:10 AM because it's not fisheye and not many lenses have such a wide angle.
babystan03 May 1st, 2006, 10:15 AM ^ I see....:D
RafflesCity May 2nd, 2006, 02:43 PM Those are some really cool updates babystan!
This is cool:
http://i38.photobucket.com/albums/e126/ylstan02/Sigma/DSC_0062.jpg
@hya, good update on the base...I kinda like the shape of the canopy...breaks up the boxiness slightly :yes:
babystan03 May 2nd, 2006, 02:48 PM ^ Thanks.....:D
RafflesCity May 2nd, 2006, 02:50 PM actually is that what a sigma 10-20mm lens does?
It kinda makes the object in the middle appear taller?
How much does it cost?
babystan03 May 2nd, 2006, 02:58 PM actually is that what a sigma 10-20mm lens does?
It kinda makes the object in the middle appear taller?
How much does it cost?
Yeah thats what the Sigma 10-20mm does.....i guess it stretch the subject a little due to the wideness......:yes:
It cost about S$900.....one word of cautious though, the lens is quite big......:yes:
RafflesCity May 2nd, 2006, 03:05 PM ok thanks!
babystan03 May 6th, 2006, 03:07 AM 5/5/06:
http://img220.imageshack.us/img220/8303/dsc00225fj.jpg
baqthier May 10th, 2006, 11:51 AM Very nice :cool:
Cliff May 11th, 2006, 04:31 AM Wow!!! That wide angle is amazing!!
http://img130.imageshack.us/img130/5741/orq9fj.jpg
babystan03 May 11th, 2006, 08:19 AM ^Thanks.....:D Thats a nice picture too....:yes:
babystan03 May 12th, 2006, 03:20 AM May 12, 2006
Credit Suisse to create 900 jobs in S'pore expansion
By Azrin Asmani
IN ANOTHER coup that strengthens Singapore's position as a financial hub, global giant Credit Suisse has become the latest foreign bank to announce it will house its expanded global support operations here, creating 900 jobs by the end of next year.
The decision by the Swiss banking giant announced yesterday came hot on the heels of a similar move by another global financial player, United States investment bank Merrill Lynch, last month.
They are now part of a growing trend among international banking executives to have chosen the Republic over other Asian cities to locate their low-profile but crucial 'back-end' functions.
Singapore's excellent IT infrastructure and its skilled workforce, as well as its low-cost environment are among factors that gave it the nod.
'Singapore is a vital centre for the entire region, both in terms of our regional business strategy and our regional support operations,' Credit Suisse's chief executive for the group's Asia Pacific operations, Mr Paul Calello, said at a media briefing yesterday.
The group also said yesterday that it has signed a new long-term lease for a 110,000 sq ft office space at One Raffles Quay along Shenton Way, which is now the place to be for global brands like financial powerhouse UBS Bank and Barclays Capital.
The new offices have the capacity to house 1,400 Credit Suisse's support staff. About 900 IT, finance, operations and product control positions are expected to be filled up by end of next year.
The bank added that more than half of those jobs will be earmarked for Singaporeans, without giving exact numbers.
Known previously as Credit Suisse First Boston, the Swiss bank went through a name change earlier this year to reflect its new strategy, which integrates all its business divisions such as wealth management, asset management and investment banking under one brand name.
After setting up operations here in 1972, Credit Suisse currently employs 2,200 staff in two locations: 1,400 officers at One Raffles Link and 800 support staff at Changi Business Park, which was opened in February 2004.
To put that in perspective, the biggest foreign bank here, Citibank, employs about 7,300 staff here, according to a report last December.
Last month, US investment banking giant Merrill Lynch announced its intention to locate its global back-end operations here, creating 800 jobs over the next two years.
Britain's Barclay's Capital, Citigroup and UBS Bank are among others that have significant support operations here, as part of their outsourcing plans to take advantage of Asia's low-cost environment.
Such moves are also made to increase the resilience of their banking operations in light of possible crisis such as terrorist attacks either in the US or Europe.
Credit Suisse's chief information officer Tom Sanzone said: 'In the past, we might have all our functions in one location, let's say in Manhattan. Now that we have support centres outside Manhattan, so should there be a local event in New York City, the bank is still operational. It will improve our resilience.'
azrin@sph.com.sg
Copyright © 2005 Singapore Press Holdings. All rights reserved.
RafflesCity May 15th, 2006, 03:12 PM nice pic Cliff!
The top corner still hasnt been cladded up as of today.
btw the new road, Marina Boulevard has partially been done up with some signages and I sneaked a walk into the atrium in between the 2 blocks...quite a refreshing experience, somewhat like standing in the plaza of UOB.
Mr.ASAP May 16th, 2006, 02:06 PM Tue 16/05/2006
Its very near completion on the top :D
the bottom still needs some glass cladding work to be done though....
http://img112.imageshack.us/img112/1369/orqfaraway7ta.jpg
http://img112.imageshack.us/img112/1728/orqslowin7ov.jpg
Close up
http://img112.imageshack.us/img112/812/orqcloseup4rb.jpg
Cliff May 16th, 2006, 02:07 PM wow, only a tiny corner left!!
babystan03 May 16th, 2006, 04:30 PM How it looks at night......:yes:
http://i38.photobucket.com/albums/e126/ylstan02/BSB/DSC_0019.jpg
How it contributes to the skyline
http://i38.photobucket.com/albums/e126/ylstan02/BSB/DSC_0007.jpg
JoSin May 17th, 2006, 02:47 PM The Sail is rising too!
RafflesCity May 19th, 2006, 04:49 AM it'll block Capital Tower from that angle though....Capital Tower really adds a lot to the overall pic
hyacinthus May 19th, 2006, 03:17 PM 19 May 2006
Should complete by tomorrow?
http://img100.imageshack.us/img100/8348/dsc05035zh.jpg
Mr.ASAP May 19th, 2006, 04:08 PM YES! the top is done:)
left the bottom...they have started to clad the bottom atrium
http://img84.imageshack.us/img84/6798/orq16hn.jpg
http://img54.imageshack.us/img54/526/orq24im.jpg
and the other tower has lit up at night :D
http://img54.imageshack.us/img54/4868/orq32ah.jpg
hyacinthus May 19th, 2006, 04:15 PM It's not exactly completed. There's still a corner to do at another angle.
http://img100.imageshack.us/img100/7715/o18al.jpg
shao_ye May 19th, 2006, 05:16 PM taller tower will have fins like the shorter one? currently it seems like nope... :(
RafflesCity May 20th, 2006, 04:58 AM 19 May 2006
The top really does look done from the other angle. I do like the night lighting on the shorter tower's fin.
http://img.photobucket.com/albums/v133/RafflesCity/rq1905.jpg
RafflesCity May 20th, 2006, 04:59 AM How it contributes to the skyline, starting the thrust outwards towards the new downtown:
http://img.photobucket.com/albums/v133/RafflesCity/westinskyline2.jpg
JoSin May 20th, 2006, 06:34 AM OMG, I like the shorter tower's lighting at the fin. i hope there are night lighting for the taller tower's top too.
Singapor3 May 20th, 2006, 06:38 AM Yeah,first of its kind.But i think the lighting of the taller building is good enough..Until the sail comes up!
Mr.ASAP May 20th, 2006, 06:43 AM OMG, I like the shorter tower's lighting at the fin. i hope there are night lighting for the taller tower's top too.
based on Rafflescity photo of the ORQ update, the top part seems to have a provision for that fin like lighting too.....perhaps the taller tower will have that similar effect :D
and what a great way to hide the aircon fans! (dang forgot the term for it) :D
Cliff May 21st, 2006, 04:53 AM 19 May 2006
http://img.photobucket.com/albums/v133/RafflesCity/rq1905.jpg
This picture looks so wierd! Like a bunch of model buildings randombly placed in front of a poster.:D
babystan03 May 21st, 2006, 04:54 AM How it looked from a distance....:yes:
http://i38.photobucket.com/albums/e126/ylstan02/Tanjong%20Pagar/DSC_0005.jpg
Pengui May 21st, 2006, 05:24 AM Hu-oh... Nice pic :-)
RafflesCity May 21st, 2006, 07:20 AM based on Rafflescity photo of the ORQ update, the top part seems to have a provision for that fin like lighting too.....perhaps the taller tower will have that similar effect :D
There should be lighting for the taller tower, based on this rendering :)
http://www.meinhardt.com.sg/admin/project_images/OneRafflesQuayWebsite.jpg
Mr.ASAP May 21st, 2006, 10:59 AM YUP! :D thats great! :) hopes it also lights up all round! :)
anyway here is another shot of the fin on the shorter tower....it looks more ''transparent'' compared to the taller one.
http://img61.imageshack.us/img61/2266/orq17yl.jpg
shao_ye May 21st, 2006, 02:00 PM There should be lighting for the taller tower, based on this rendering :)
http://www.meinhardt.com.sg/admin/project_images/OneRafflesQuayWebsite.jpg
but the real thing doesn't always 100% look like the rendering... :(
Singapor3 May 21st, 2006, 03:18 PM Looks good..
http://img.photobucket.com/albums/v454/raptorsuperb/c4ae7ad5.jpg
Gid May 22nd, 2006, 03:18 AM based on Rafflescity photo of the ORQ update, the top part seems to have a provision for that fin like lighting too.....perhaps the taller tower will have that similar effect :D
and what a great way to hide the aircon fans! (dang forgot the term for it) :D
Hmm, u meant cooling towers, my friend?
Anyway i suspect there aint any cooling towers on ORQ,
i remembered reading somewhere that all buildings in the New Downtown
will served by a central cooling facilty that
will provide all buildings with cold water/gas to run their air-con systems.
If there is such a system, then there should be this massive industrial-like building (to house the condensing units) somewhere around, but i cant spot any...
I aint sure if i'm right, somebody confirm pls? :)
Pengui May 27th, 2006, 07:48 AM 22nd May
Photos taken this monday...
http://membres.lycos.fr/pengssc/img/060522_orq01.jpg
Podium and entrance of the smaller tower... It looks almost ready to open.
http://membres.lycos.fr/pengssc/img/060522_orq02.jpg
Closer look at the entrance
http://membres.lycos.fr/pengssc/img/060522_orq03.jpg
Looking up at the almost completed fin.
http://membres.lycos.fr/pengssc/img/060522_orq04.jpg
Cladding going up on the taller tower's entrance.
http://membres.lycos.fr/pengssc/img/060522_orq05.jpg
Lobby.
JoSin May 27th, 2006, 08:05 AM It is the most glassy building i have ever seen in singapore!!
Singapor3 May 27th, 2006, 10:39 AM Damn stylo sia...
shao_ye May 27th, 2006, 10:47 AM the amount of glass used turely overlaps the disappointment of it being so so, very so rectangle... after all, it turns out to be one of a kind...
RafflesCity May 28th, 2006, 10:37 AM 26 May 2006
http://img99.imageshack.us/img99/8720/rq26052zc.jpg
rark May 28th, 2006, 11:06 AM ^^ nice!
RafflesCity May 28th, 2006, 11:11 AM Thanks...the glass always looks good from that angle in the evenings....I just cant wait to see how massive the Sail would look from that angle!
babystan03 May 28th, 2006, 11:43 AM Is that taken near Marina Bay MRT?? :?
RafflesCity May 28th, 2006, 11:46 AM ^^
yes :yes:
babystan03 May 28th, 2006, 11:48 AM I see.....maybe I'll go there at night.....:D
RafflesCity May 28th, 2006, 12:01 PM good place for night pics too :yes:
RafflesCity June 3rd, 2006, 02:10 PM 3 June 2006
http://img101.imageshack.us/img101/75/rq03065bs.jpg
redstone June 3rd, 2006, 02:23 PM What's with that sheer white podium wall?
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