Singtel, Lendlease break ground on new S$3 billion Comcentre
The building, being redeveloped at the cost of S$3 billion, will be the largest Grade-A office space in the Orchard Road precinct, taking up 110,000 square metres (sq m). The previous Comcentre had a gross floor area of 105,371 sq m.
Singtel will be the anchor tenant, occupying 30 per cent of the total development area.
Slated for completion in 2028, the project will have two 20-storey Grade-A office towers, covering 81,960 sq m in gross floor area. It will also feature 20,000 sq m of lifestyle and retail spaces, including Singtel's new flagship store, food and beverage (F&B) outlets, medical suites, a gym and an auditorium.
The total net lettable space available for lease is about 54,000 sq m. The Business Times understands there has been 'strong interest from a broad spectrum of companies', though official marketing and leasing starts only in 2026.
Singtel employees who used to work in the monolithic Orchard Road area landmark were relocated to SingPost Centre and other Singtel premises across the island in 2024, ahead of the demolition works.
A NEWSLETTER FOR YOU
Tuesday, 12 pm Property Insights
Get an exclusive analysis of real estate and property news in Singapore and beyond.
Sign Up
Sign Up
The new Comcentre coming up on the site will be open to the surrounding neighbourhood with a large sheltered walkway and a pedestrian thoroughfare lined with retail and F&B outlets. It will be connected to Somerset MRT station through a sheltered, above-ground link and another link at B2 level.
Designed by New York-based architecture firm Kohn Pedersen Fox and landscape architect Field Operations, the project will feature the largest elevated urban park in central Singapore, at nearly a hectare in size.
At the groundbreaking ceremony of Singtel's new Comcentre were Singtel's group chief executive Yuen Kuan Moon, Australian High Commissioner to Singapore Allaster Cox, Minister for National Development Chee Hong Tat and Lendlease's group chief executive Tony Lombardo. The new Comcentre is set to be Singapore's first end-to-end carbon neutral development. PHOTO: SINGTEL, LENDLEASE
Minister for National Development Chee Hong Tat, speaking at the groundbreaking ceremony, said: 'The redevelopment of the Comcentre is expected to enliven the Somerset area, and provide new amenities for the surrounding community.'
He added: 'The revitalised Comcentre will serve as a vibrant community hub with new public spaces and improved connectivity – bringing people from all walks of life together, supporting local businesses, and contributing to a more inclusive and dynamic Orchard Road for all Singaporeans.'
The redevelopment was announced in 2022 when Singtel partially divested Comcentre to a joint venture (JV) company with Lendlease, with an eye on maximising the site's potential, increasing building efficiency, unlocking value from the property, and strengthening Singtel's financial position.
Singtel holds 51 per cent of the JV, with Lendlease owning 49 per cent.
Singtel's net profit for FY2025 rose to S$4.02 billion, up from S$795 million the year before, driven mainly by a net exceptional gain of S$1.55 billion from the partial divestment of Comcentre.
The new development will incorporate AI-enabled robotics, smart-building infrastructure that adapts to its environment, and technology-enabled spaces designed for work and retail.
It is on track to becoming Singapore's first development that is end-to-end carbon-neutral, encompassing its design, construction and operations. Measures include using low-carbon concrete and steel, and reusing 40 per cent of crushed concrete waste from existing structures. The project is also expected to earn three major green-building certifications.
Minister Chee highlighted the use of a different contracting model, under which contractors are paid for the actual costs up to a fixed limit, with costs savings shared between developer and builder.
Digital technology will streamline workflows, improve teamwork and boost efficiency throughout the project. Advanced construction methods, such as robotic installation system for elevators, are expected to reduce on-site labour by up to 30 per cent and speed up project completion by up to 20 per cent.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
10 hours ago
- Straits Times
New S'pore jobs portal launched for North West District residents looking for work near home
Sign up now: Get ST's newsletters delivered to your inbox The portal was launched on Aug 2 at the SkillsFuture Festival @ North West at Causeway Point in Woodlands. SINGAPORE – Job seekers in Singapore's northwest looking to work near their home can now find opportunities more easily, with the launch of a new online portal which curates jobs in the North West District. The district comprises Holland-Bukit Timah GRC, Marsiling-Yew Tee GRC, Nee Soon GRC, Sembawang GRC and Bukit Panjang SMC. The Jobs Anywhere @ North West portal, by NTUC's Employment and Employability Institute (e2i) and FindSGJobs, currently has about 10,000 job vacancies. Jobs on offer include those at heartland merchants, such as hairdressers, and at hawker stalls, for stall assistants. The portal was launched on Aug 2 at the SkillsFuture Festival @ North West at Causeway Point in Woodlands. Mr Alex Yam, the mayor of North West District, said the jobs portal was developed in response to feedback from residents over the years. 'We understand that many residents face challenges finding flexible and part-time work opportunities near home, due to caregiving duties or other circumstances,' said Mr Yam, who is also an MP for Marsiling-Yew Tee GRC. He hopes the portal will help such residents find suitable jobs at heartland merchants. Top stories Swipe. Select. Stay informed. Singapore Opening of Woodlands Health has eased load on KTPH, sets standard for future hospitals: Ong Ye Kung Singapore New vehicular bridge connecting Punggol Central and Seletar Link to open on Aug 3 Business Property 'decoupling' illegal if done solely to avoid taxes: High Court Singapore HSA investigating teen who was observed to be allegedly vaping in MRT train Asia KTM plans new passenger rail service in Johor Bahru to manage higher footfall expected from RTS Singapore Tengah facility with over 40 animal shelters, businesses hit by ticks Singapore 60 years of building Singapore One such merchant is Mr Lim Kian Hong who runs Two Herbs, a herbal scalp treatment business. It has seven outlets, including one at Block 166 Woodlands Street 13. He typically advertises job vacancies by sticking job ads in his shop window. He said he has found it difficult to find Singaporeans to fill vacancies even though he offers flexible work arrangements. He decided to list the vacancy on the new jobs portal after being approached by Community Development Council staff. 'Hopefully more people will be coming in to interview for the job,' he said. He is hiring hair therapists, to help with tasks such as hair washing. The portal lists both full-time job opportunities and flexible 'microjobs' which typically refer to short-term or temporary work. A separate jobs portal, called the Heartland Job Portal, was launched in August 2024 for those looking to work near their home, though this portal lists job vacancies islandwide. Speaking at the launch of the portal, Mr Yam also acknowledged that the job landscape has become increasingly competitive, especially for the youth. 'Beyond securing employment, our youths continue to face significant stress in their search for fulfilling careers,' Mr Yam said. Mr Alex Yam, the mayor of North West District, said the jobs portal was developed in response to feedback from residents over the years. PHOTO: LIANHE ZAOBAO Beyond job matching, the platform offers career guidance and employment resources, Mr Yam said. This is where youths can find 'the right advice and right upskilling opportunities as well', he said. Ten training providers, including NTUC Learning Hub, James Cook Institute and Republic Polytechnic had booths at the festival, highlighting courses in the digital, green and care sectors. The care sector includes social services, early childhood, healthcare and community care. Ms Kameeni Mehta, 56, visited the event to learn more about artificial intelligence courses on offer. She left having signed up for two AI courses held over the weekends, so she will not have to take time off from her job at an insurance company. She said she was keen to learn a new skill, and picked AI to 'keep abreast with changes'. 'At a certain age, you just can't be complacent', said the Woodlands resident. 'AI is keeping everybody on our toes, and it's fascinating.' The SkillsFuture Festival @ North West is being held at Causeway Point on Aug 2 and 3.
Business Times
13 hours ago
- Business Times
China state media asks Nvidia to prove H20 chips are secure
[HONG KONG] China state media is calling for Nvidia to prove that its H20 chip is secure, saying it cannot allow flawed chips into the country. China's top Internet watchdog summoned Nvidia representatives earlier this week to discuss what Chinese officials called significant security vulnerabilities in the H20. The Cyberspace Administration of China said that Nvidia would need to explain potential security risks and provide documents as needed, citing comments by US lawmakers about the need to install tracking capabilities on advanced chips being exported. 'As soon as 'backdoors' in chips are triggered, we can encounter a 'nightmare',' the People's Daily, a mouthpiece for the Chinese Communist Party, said in a commentary on Friday (Aug 1). 'We need to maintain the security of the cyberspace and we cannot allow 'infected' chips to be put to work.' More scrutiny of the artificial intelligence (AI) chip would throw a wrench China's already-contentious trade talks with the US. Santa Clara, California-based Nvidia had designed the H20 to comply with US export controls on its technology, and the company was hoping to start sales after the US granted a license. 'Cybersecurity is critically important to us,' Nvidia said on Thursday. 'Nvidia does not have 'backdoors' in our chips that would give anyone a remote way to access or control them.' US and Chinese officials met in Stockholm this week to discuss trade terms in talks that Chinese state media said that 'deepened mutual trust', though the two sides still have several disagreements over the potential new tariffs. The warning in People's Daily may signal that Chinese officials don't find H20s, which are less powerful than Nvidia's most high-end chips, to be worthy offerings. The Trump administration in April barred Nvidia from selling H20s to China in an escalation of the ongoing tech war between the world's two largest economies. Trump officials then pledged to lift those restrictions in July as part of a trade deal for China to allow more sales of rare-earth magnets needed to make a range of high-tech products. US Commerce Secretary Howard Lutnick had touted the resumption of sales of the H20 as a breakthrough that came from bilateral discussions in London, framing it as a concession to China. US Treasury Secretary Scott Bessent, meanwhile, said earlier this week that the magnet issue has been 'solved'. However, it is unclear whether Nvidia has received licenses to resume shipping those semiconductors. Nvidia boss Jensen Huang himself recently concluded a high-profile visit to Beijing, where he feted national Chinese champions such as DeepSeek and celebrated the country's rising prowess in AI. The billionaire had denied Nvidia installed backdoors in its product, saying that would not make business sense. BLOOMBERG
Business Times
13 hours ago
- Business Times
Brunei tweaks Bridgewater bet to a lucrative 20% stake in firm
[NEW YORK] Brunei's sovereign wealth fund pulled money from an investment in a Bridgewater Associates strategy to buy an almost 20% stake in the hedge fund manager's holding company, a move that has helped spur higher gains for other institutional investors. The Brunei Investment Agency is the latest longstanding client to buy a piece of the firm founded by Ray Dalio, which managed US$92 billion as at Dec 31. It's unclear which Bridgewater vehicle Brunei pulled money from, although the sovereign wealth fund remains an investor in all of the firm's funds, according to a source familiar with the money manager. Bridgewater's flagship Pure Alpha II, like many macro funds, has improved its performance in the past few years, but over a longer period, returns have been uneven. That means a long-term investment in the firm itself can be more lucrative than betting on its most popular product. Bridgewater has been selling stakes to institutions for more than a decade. The Teacher Retirement System of Texas, the Ontario Municipal Employees Retirement System, Singapore's sovereign wealth fund and the International Monetary Fund have all purchased a piece of the Westport, Connecticut-based firm. The Texas teachers pension fund invested US$250 million in Bridgewater's holding company in 2012 and reported making an annualised return of 8.7 per cent to Mar 31. An investor in Pure Alpha would have gained an annualised 2 per cent from the beginning of 2012 to June 2025. Last year, the fund climbed 11.3 per cent and it's up 17 per cent in the first half of this year. Dalio recently completed his exit from the company, selling the final slug of his remaining shares in the money manager he started 50 years ago, and resigning from the board. BLOOMBERG
