[News] Keppel to redevelop Keppel Towers (now South Central) into state-of-the-art commercial building
Singapore-based asset management company Keppel is shifting its focus towards revitalizing existing properties after the successful completion of Keppel South Central, a commercial tower in the city’s Tanjong Pagar district. Samuel Ng, president of Keppel’s real estate division, refers to the project as the company’s “showpiece” and highlights its significance in the company’s pivot towards more brownfield redevelopment projects.
Keppel South Central is a result of the redevelopment of two older office buildings, Keppel Towers and Keppel Towers 2, which were completed in 1991 and 1993, respectively. The 33-storey tower offers 650,000 sq ft of office, retail, and event space, with floor plates ranging from 20,000 to 22,000 sq ft. The tower has already secured an anchor tenant, a leading financial services group, and is expected to welcome office occupants from June.
Apart from its prime location and state-of-the-art facilities, Keppel South Central also boasts a series of technological improvements that bring it up to par with other Grade-A office buildings in the Central Business District (CBD). These include features such as facial recognition access, 5G Wi-Fi, and an indoor air-quality management system. The building also incorporates several green solutions that have been successfully tested at another Keppel property, Keppel Bay Tower, making Keppel South Central a certified Green Mark Platinum Super Low Energy building.
Following the success of Keppel South Central, Keppel plans to replicate its sustainable approach to brownfield projects across the Asia-Pacific region. According to Ng, the demand for green-certified properties is on the rise, and the limited supply presents a significant opportunity for sustainability-focused retrofits. To fund these projects, Keppel has launched its flagship Keppel Sustainable Urban Renewal Fund (KSURF), with a total of over $2.3 billion under management. The fund will target properties across various sectors in Singapore, South Korea, Japan, Australia, and China.
To date, Keppel has applied its Sustainable Urban Renewal (SUR) initiative to eight projects in five countries, including Keppel South Central, Park Avenue Central, The Kube, and Saigon Centre. Three projects are still in progress, and Keppel aims to complete them within the fund’s seven-year life and divest them. With its in-house capabilities and operational knowledge, Keppel is well-equipped to execute these projects and deliver sustainable and innovative properties.