The ground-breaking ceremony for CapitaGreen, the new Grade A office tower slated for the former Market Street Car Park, took place yesterday and the project is on track to be completed by the fourth quarter of 2014, its joint developers said.
CapitaLand, CapitaCommercial Trust (CCT) and Mitsubishi Estate Asia said the building at 138 Market Street will have a net lettable area of about 700,000 sq ft and the floor plate will range from 20,000 sq ft to 25,000 sq ft.
The 40-storey office building is expected to cost about S$1.4 billion to develop.
The developers aim to achieve the Green Mark Platinum award for the environmentally friendly building when it is completed.
Takenaka Corp has bagged the design-and-build contract for the project, which the developers hope will be completed in 32 months, instead of the usual 39 to 40 months.
The demolition of the car park was completed in December last year.
Rents at CapitaGreen are likely to range between S$12 and S$14 per sq ft, said Ms Lynette Leong, CEO of CapitaCommercial Trust Management.
Source: Today - 7 February 2012
