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Operations and market reviewSingapore – CommercialMarina Bay Financial CentreOfficeMarina Bay Financial CentreThe Marina Bay Financial Centre (MBFC) represents the nextphase of development in the transformation and extension ofSingapore’s CBD to Marina Bay. The upcoming Marina BaySands Integrated Resort in the vicinity will further enhanceits attraction as the choice location for local and internationalfinancial institutions as well as multinational corporations.Jointly developed by Keppel Land, Cheung Kong (Holdings)and Hongkong Land, and designed by internationally renownedarchitects Kohn Pedersen Fox Associates, MBFC is a showcaseof top-notch masterplanning and contemporary urban design,providing an integrated live-work-play environment for a24/7 lifestyle.Phase One of MBFC will comprise two office towers of33 storeys and 51 storeys, providing a total of about1.6 million sf of net lettable office space, 428 units of luxuryhomes at Marina Bay Residences, and complementary retailand recreational facilities. Construction of the developmenthas already started and is scheduled for completion in 2010.Upon completion, the development will be linked via its ownunderground pedestrian network to the new Landmark MRTstation of the Downtown Extension of the Circle Line, aswell as the Raffles Place MRT station, which serves theNorth-South and East-West Lines.Reflecting confidence in the property market and the futuredevelopment of Singapore as a key financial centre in Asia,the consortium has exercised its option to purchase PhaseTwo of the site from the government. Phase Two will add afurther 194,000 sm (2.1 million sf) of gross floor area and willcomprise both Grade A office and high-end residentialcomponents.With total gross floor area of over 4.7 million sf, the entireMBFC development will be one of the largest integratedcommercial and residential developments in Singapore, andits unique combination of premier office space, luxuryresidences and retail and recreational facilities will contributesignificantly to fulfilling Singapore’s vision of creating aninternational business and financial hub, and injecting avibrant 24/7 waterfront lifestyle at Marina Bay.One Raffles QuayOne Raffles Quay (ORQ), which was developed by the sameconsortium partners in MBFC, was fully pre-committed evenprior to its completion in 2006. The prime Grade A officebuilding located at the gateway to the new downtown atMarina Bay received Temporary Occupation Permits forthe South Tower and the North Tower in April and October2006 respectively. It is the preferred office location for manyblue-chip tenants such as ABN AMRO, Deutsche Bank, UBS,Ernst & Young, Barclays Capital and Credit Suisse.110 Operations and market reviewSingapore – CommercialKeppel Land LimitedReport to Shareholders 2006