[url]http://www.businesstimes.com.sg/sub/news/story/0,4574,381116-1271275140,00.html?[/url]

Published April 14, 2010

[B][SIZE="5"]65% of Marina Bay Link Mall phase 1 taken up[/SIZE][/B]

By KAREN NG


SIXTY-FIVE per cent of the space in phase one of Marina Bay Link Mall has been taken up and the mall will open for business in the fourth quarter of this year.

The 5,202 sq m mall will house retail and food-and-beverage outlets such as Din Tai Fung, Absolut Thai, an Apple concept store and Four Seasons Market Place.

Wilson Kwong, chief executive of Raffles Quay Asset Management, announced the developments at the topping out ceremony yesterday for Tower Two at Marina Bay Financial Centre (MBFC). He also said: 'MBFC is very well placed. It has been doing an excellent job so far in attracting very big names.'

Tower One and Tower Two at MBFC have been fully let. Moray Armstrong, executive director of office services at CB Richard Ellis (CBRE), told BT: 'This is certainly confidence-boosting, particularly if you look at the quality of the tenants.'

They include American Express, Barclays Capital, BHP Billiton and Prudential.

According to a recent CBRE report, Grade A office rents averaged $8 per sq ft per month in the first quarter, down slightly from $8.10 psf per month in Q4 2009.

Mr Kwong said that there was 'ongoing interest' in Tower three at MBFC. It has 1.3 million sq ft of space, 55 per cent or 700,000 sq ft of which has already been taken up by DBS Group.

Finance Minister Tharman Shanmugaratnam, who was guest of honour at the ceremony, said that high-quality office space in Singapore is an added reason for financial institutions to invest or locate operations here.