Business

Twin office blocks at Funan get 98% pre-leasing commitment

The twin office blocks of CapitaLand's Funan integrated development has garnered 98 per cent pre-leasing commitment for its total office net lettable area (NLA) of 214,000 sq ft.

The CapitaLand Mall Trust-owned Funan secured the pre-leasing commitment of about 210,000 sq ft of its NLA when it got its temporary occupation permit last month.

Funan's office tenants, which comprise public agencies, multinational corporations and start-ups, are slated to move into the two six-storey blocks from the second quarter of this year.

The south office block, which has a total NLA of 95,600 sq ft, has been fully leased to three public agencies - AttorneyGeneral's Chambers, Singapore Department of Statistics and Smart Nation and Digital Government Office. The north block's tenants include German sporting goods company Adidas' South-east Asia office and co-working space WeWork.

"The revamped Funan caters to the new generation of professionals who prefer to work in a collaborative and inspiring environment at a convenient location, where they can unwind at the end of the day with a host of lifestyle amenities under one roof," said Mr Tony Tan, chief executive of CapitaLand Mall Trust (CMT) Management.

"With a high commitment of 98 per cent, Funan's diversified and quality office tenant base will progressively contribute earnings to CMT from the third quarter of this year." - THE STRAITS TIMES

BUSINESS & FINANCE