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Thursday, 12 December 2013

Ocean Financial Centre achieves full occupancy

All of Keppel REIT’s Singapore properties are now 100% occupied

Keppel REIT Management Limited (Keppel REIT Management), as Manager of Keppel REIT, is pleased to announce that both the office and newly completed retail space at Ocean Financial Centre are fully committed.

With this, all of Keppel REIT's five Singapore properties are now 100% occupied, up from its Singapore portfolio average occupancy of 99.5% as at end-September 2013. This is also higher than the average Singapore CBD occupancy of 93.5%1 for the third quarter of 2013.

Ms Ng Hsueh Ling, CEO of Keppel REIT Management, said, "We have steadily signed on tenants to achieve full occupancy, from approximately 80% when we acquired Ocean Financial Centre in December 2011. This attests to Ocean Financial Centre as one of Singapore's premium office properties with an enviable location at the heart of the Raffles Place and Marina Bay precincts.

"We will continue to focus on maintaining a strong portfolio of established tenants, as well as delivering steady performance and value to our Unitholders."

The latest tenants at Ocean Financial Centre include those from the energy, human resources as well as legal service sectors, namely Linc Energy, BGC Group and Olswang Asia LLP. They add to the stellar line-up of multinational companies such as Australia and New Zealand Banking Group Ltd (ANZ), BNP Paribas, Gazprom and Drew & Napier, all of whom have made Ocean Financial Centre their choice business address.

Strategically located at the intersection of the prime Raffles Place and Marina Bay precincts, the 43-storey Ocean Financial Centre has a total net lettable area of approximately 885,000 sf. Phase 2, which comprises a seven-storey carpark and retail annexe, was completed in November 2013. The approximate 8,600 sf of retail space is leased to F&B tenants such as Paul café, Starbucks, and Cedele.

As part of Phase 2 development, the underground pedestrian network (UPN) linking Ocean Financial Centre to Raffles Place MRT Interchange Station has been completed. The UPN also connects Ocean Financial Centre to all of Keppel REIT's properties in the Raffles Place and Marina Bay precincts, including Marina Bay Financial Centre Towers 1 & 2, Marina Bay Link Mall and One Raffles Quay. Tenants will also enjoy greater connectivity when the Downtown MRT Station, which is directly linked to Marina Bay Link Mall, opens on 22 December 2013.

In keeping with Keppel's commitment to contribute to the cityscape with sustainable properties, Ocean Financial Centre features a green wall which spans approximately 23,000 sf, or the equivalent of approximately eight tennis courts. The green wall was awarded the Guinness World Record for the World's Largest Vertical Garden and recently clinched the Skyrise Greenery Award (Excellence) by the National Parks Board.

To enrich the arts and cultural landscape in Singapore's central business district, three art pieces by internationally acclaimed artists - "Tall Tree in the Eye" by Anish Kapoor, "School of Fish" by Jane Cowie and "Singapore Soul" by Jaume Plensa, were specially commissioned at the public plaza of Ocean Financial Centre.

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