Research from SooChow CSSD Capital Markets (Asia), SCCM Asia Research

SCCM Asia Research

Headquartered in Singapore, SooChow CSSD Capital Markets (Asia) is an investment bank focusing on emerging growth companies across Asia, providing a full suite of investment banking services, including corporate finance, mergers and acquisitions advisory, equity capital markets, institutional equities sales and trading and equities research.

Research from SooChow CSSD Capital Markets (Asia)

Thematic (Sector/Industry)

Indonesia Real estate / Thematic (Sector/Industry)

<h2>Singapore</h2><h3>Strong leasing interest for part of Standard Chartered Bank’s vacating space in MBFC T1</h3><p>The asset manager of the Marina Bay Financial Centre (MBFC) has received strong interest from potential tenants for about 200,000sqft office space in Tower 1. This is part of the roughly 400,000sqft currently leased to Standard Chartered (StanChart) in the tower. The profiles of occupiers that have shown the strongest interest are tech firms from the United States, China and Singapore, as well as companies in media and financial services. It added that rents of between S$11-12psf a month are expected to be achieved. The final amount of space that StanChart will give up remains uncertain. In all, the London-headquartered bank currently leases 18.5 levels in the 33-storey Tower 1, which has office floor plates ranging from 18,000-22,000sqft. StanChart’s lease expires in late-Oct22, with an option for renewal. StanChart also has its own premises in Changi Business Park.</p><section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/210/859/original/image003.png?1622683137" class="editor-image img-responsive" data-smartkarma-image-id="210859"></figure></section>

SingaporeStrong leasing interest for part of Standard Chartered Bank’s vacating space in MBFC T1The asset manager of the Marina Bay Financial Centre (MBFC) has received strong interest from potential tenants for about 200,000sqft office space in Tower 1. This is part of the roughly 400,000sqft currently leased to Standard Chartered (StanChart) in the tower. The profiles of occupiers that have shown the strongest interest are tech firms from the United States, China and Singapore, as well as companies in media and financial services. It added that rents of between S$11-12psf a month are expected to be achieved. The final amount of space that StanChart will give up remains uncertain. In all, the London-headquartered bank currently leases 18.5 levels in the 33-storey Tower 1, which has office floor plates ranging from 18,000-22,000sqft. StanChart’s lease expires in late-Oct22, with an option for renewal. StanChart also has its own premises in Changi Business Park.

ASEAN Builder's Scoop (3Jun21) - Standchart Space at MBFC T1 Drew Strong Interest