Inspiring Leadership Summit 2014 Ocean Financial Centre 19 May 2014

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Inspiring Leadership Summit 2014 Ocean Financial Centre 19 May 2014. 1. Prime Location in the Heart of CBD. OFC. Downtown. Bayfront. 4 th Generation Building on Site. The site occupied by OFC has 999-year lease term commencing from 22 June 1862 Site has been redeveloped 4 times:. 1864
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Inspiring Leadership Summit 2014Ocean Financial Centre19 May 20141PrimeLocation in the Heart of CBDOFCDowntownBayfront4th Generation Building on Site
  • The site occupied by OFC has 999-year lease term commencing from 22 June 1862
  • Site has been redeveloped 4 times:
  • 18641st Generation Ocean Building19232nd Generation Ocean Building19743rd Generation Ocean Building20114th Generation Ocean Financial Centre1992Ocean Towers addedIssues Facing Ocean Building/Ocean Towers (c.2007)
  • 1) Aging buildings (OB completed in 1974, OT 1992) and inability to compete with new buildings
  • Low net lettable area efficiency (OT 69%, OB 75%)
  • Irregular / small floor plates
  • Obsolete plant & equipment; need to incur $25m capex to refurbish OT
  • Difficult to attract blue-chip tenants; may lose some anchor tenants to newer buildings (e.g. EY moved to One Raffles Quay)
  • 2) Coincided with Global Financial Crisis
  • Capital rationing
  • Loan availability
  • Maintain profit / income
  • Ocean Building (OB)Ocean Towers (OT)Raffles Place MRTBefore redevelopment into Ocean Financial CentreOptions & Long-Term Solutions
  • Long Term Solutions
  • Redevelop Ocean Building/Ocean Tower into a premier Grade A office building
  • Engage world-renowned architect, César Pelli, to design the new iconic Ocean Financial Centre
  • Participate in URA’s Art & Lighting Incentive Schemes to increase the GFA by up to 4%
  • Utilize additional GFA of 15% due to proximity to Raffles Place MRT Station
  • Maximize total GFA to 1 million sf and building height to 245m (43-storey)
  • Unveiling the Ocean Financial Centre design in Oct 2007
  • Options Considered
  • Redevelop or refurbish?
  • Highest and best use?
  • Include or exclude Ocean Towers for total / partial redevelopment?
  • StrategyInnovative Development PlanStage 1 Transfer existing tenants at Ocean Building to Ocean TowersStage 2 Demolish Ocean BuildingStage 3 Construct Ocean Financial CentreStage 4 Transfer existing tenants at Ocean Towers to Ocean Financial CentreStage 5 Demolish Ocean TowersStage 6 Construct car park podiumOFC
  • Key Benefits
  • Retain anchor tenants for Ocean Financial Centre(Drew & Napier, DMG, Verizon, iFast, etc. took up 220,000 sf or 25% of space in new building)
  • Continue to enjoy rental income from Ocean Towers during construction of Ocean Financial Centre
  • Shorten the development time frame
  • Capture the demand from upturn of market
  • OBOTCarparkPodiumRetailKey Challenges
  • Securing approvals from authorities for simultaneous use of GFA for OT & OFC during reconstruction
  • Tight & congested site
  • Large floor plates of new building overlap into existing OT
  • Existing separate foundations for OB & OT impose structural constraints
  • Building is on top of Raffles Place MRT station
  • Operation of OT & OFC at different stages requires careful planning and management (eg. handling of tenant complaints)
  • Façade inclines at 1.5°OFC under constructionOT carpark demolished in Phase 2Raft foundations of two existing basements stitched together and thickened by 3 to 4m to support the taller and heavier OFC OFC overlapping into existing OTOcean Financial Centre
  • A New Landmark at Raffles Place
  • Completed the iconic Ocean Financial Centre in Apr 2011
  • 43-storey with 885,000 sf NLA
  • ~80% pre-committed to blue-chip tenants before completion
  • (current occupancy: 99.1% as at Mar 2014)
  • Ocean Financial CentreComparison of Ocean Financial Centre & Ocean Building / Ocean Towers
  • Divestment to Keppel REIT for 99-year period
  • Divestment generated a total gain of $877 million in 2011
  • Contributed 64% of KLL record net profit of $1.37 billion in 2011
  • Green Features atOcean Financial CentreSummary of Key Green FeaturesOVERALLENERGY SAVINGS35.1%REDUCTIONIN CO2 EMISSION4,542tonnes / yearWATERSAVINGS42,249 m3 / yearENERGYSAVINGS9,084,956 kWh / yearETTV42.76 W / m2AIR CONSYSTEMEFFICIENCY0.662 kW / tonneEEI175kWh / m2 / yearRoof-Top Solar PanelsLargest PV cell area in office buildings: 400 sqmHybrid Chilled Water SystemOnly Office Building in Singapore to use Hybrid Chilled Water SystemDistrict Cooling Supply (DCS)Hybrid In-house Chiller SupplyEnergy savings: 3.58 million kWh/yearCentralised Paper Recycling
  • Promotes conservation habit
  • Up to 334 tonnes of waste paper per year
  • 5,685 trees being saved per year
  • Green Savings and BenefitsEnergy Savings: 9.08 million kWh per yearequivalent to powering 1600 homes in a yearWater Savings:42,249 m3 per yearequivalent to 17 Olympic sized swimming poolOperations Cost Savings:$2.63 million per yearCarbon Reduction:4,542 tonnes per yearequivalent to 22,000 trees saved annuallyBlueChip TenantsSkyrise Greeningat Ocean Financial CentreRoof Garden at old Ocean Building (1974 – 2007)transplanted to Keppel TowerSky Gardens
  • 4 terraces of Sky Gardens
  • Levels 39, 41, 42 & 43
  • Total Green Plot Area: : 15,587 sqm
  • Reduces building heat gain
  • Energy consumption lowered
  • Sky GardensLevel 41Level 39Level 42Level 43What’s Unique about our Green Wall?
  • 1st to implement Vertical Greenery
  • screening for Carparks in CBD
  • “Au Natural” filtration system for
  • vehicular emissions
  • “3D-enhanced” Greenwall
  • Proprietary “Lift, Tilt, Lock” pots
  • system for enhanced safety
  • 1-to-1 exact pot identification for
  • the whole wall of 57,000 pots
  • Digital “Pixelation” ability
  • Fully automated 2-in-1 Irrigation
  • and Fertilizer System
  • Efficient LED night lighting
  • Green Wall Information 2years of design & planning Accelerated 15weeks of installation18,500Man-hours to complete25 species of plantsTotal area: 2,125sqmTotal pots: 56,968Green Wall Lighting “Cities at Night” lighting effect - EveningA New World Record!13th September 2013
  • World’s Largest Vertical Garden
  • Total Length – 110 mTotal Height – 19 mTotal species of plants – 25Total planting pots – 56,968Total verified area – 2,125 sqm (8 tennis court)Safety Awards
  • Keppel Group Safety Innovation Award
  • 2011 – Keppel Group Safety Innovation Award – Gold – Automatic Dust Trapper Mist Spray
  • 2012 – Keppel Group Safety Innovation Award – Bronze – Customizable Safety Hatch Cover for openings
  • 2013 – Keppel Group Safety Innovation Award – Gold – Tower Crane Proximity Sensors
  • MOM Workplace Safety & Health Award
  • 2011 – Ministry of Manpower Workplace Safety and Health – Performance Award for OFC
  • 2012 – Ministry of Manpower Workplace Safety and Health – Developer’s Award for OFC
  • 2013 – Ministry of Manpower Workplace Safety and Health – Performance Award for OFC
  • Urban Planning at Ocean Financial CentreCovered Plaza Opening Out to Raffles Place GreenFormer Ocean Towers’ Lobby fonting Raffles Place GreenNew Entrance Plaza Retail Annex & Direct Connection to MRT Station Retail annex along underground pedestrian network linking OFC directly to Raffles Place Interchange MRT StationArt in Ocean Financial CentreTall Tree In The EyeArtist: AnishKapoorSingapore SoulArtist: JaumePlensaSchool of FishArtist: Jane CowieAwards & Accolades
  • 1stBCA Green Mark Platinum awarded for high-rise office building in Singapore’s Central Business District (2008)
  • 1sthigh-rise office development in South East Asia to be conferred with LEED Platinum Pre-Certification, Core & Shell (2009)
  • Best Developer – Green Development (Future) Award (2009)
  • Cityscape Asia Real Estate Awards
  • Best Green Development Award (2011)
  • South East Asia Property Awards
  • World’s Best Commercial High Rise Development (2012)
  • International Property Awards
  • World’s Largest Vertical Green Wall (2013)
  • Guinness World Record Thank You30
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