Embarking on Development Plans for an Office Building in Singapore

Shimizu Corporation (President: Kazuyuki Inoue) concluded a business agreement with the Singaporean-owned Afro-Asia Shipping Co. (Pte) Ltd. (AAS) on development and lease management of a high-grade office building in the business district of Singapore through Shimizu’s real estate subsidiary in Singapore. The investment in the joint venture was completed today. The total cost of the project is estimated at 26 billion yen. Shimizu has already partnered with local companies on the development of a condominium and data center, and this will be the company’s third development project in Singapore. Shimizu has its sights on development of high-grade office buildings throughout Asia in the future, and intends to use this development project as a showroom for joint venture partners and tenants.

The name of the joint venture established is Robinson Development Company. AAS provided lease rights to land it owns as an in-kind contribution to the joint venture, and the joint venture will procure the requisite capital for construction of the office building. The plans call for demolition of the existing building on the site in October of this year, beginning construction of the office building in April 2018, and a target of March 2020 for completion. Shimizu will be responsible for the design and construction.

The office building will have 19 stories above ground and total floor space of 16,908 m². The first floor will have retail shops, and the 7th through 18th floors will be office space. The construction site faces Robinson Road in the business district of Singapore and is in a highly convenient location, which can be reached from four MRT stations (Tanjong Pagar, Raffles Place, Telok Ayer, and Downtown).

The main features of the development plans include incorporating part of the exterior image of the existing building while maintaining an aesthetic design and providing rentable office space per standard floor of over 85%, the highest in Singapore. It will also be easy for tenants to use, have a highly efficient pillar-free design and high-quality air conditioning on par with Japan, and will provide management, cleaning, and other maintenance services that provide Japan-level quality in Singapore. In the future, the joint venture plans to acquire the BCA Green Mark environmental certification issued by Building and Construction Authority of Singapore and Platinum certification, the highest level of LEED (Leadership in Energy and Environmental Design Leadership in Energy and Environmental Design) certification.

Shimizu continues to work actively on office building development projects and other investment and development projects in the Asian region and intends to strengthen its global business through this project.