Keppel Pivots Brownfield Redevelopment Projects Following Completion Keppel South Central

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In a recent interview, Keppel’s president of its real estate division in Singapore, Samuel Ng, announced plans to pivot the company’s focus towards brownfield redevelopment projects. This decision comes after the completion of Keppel South Central, a 33-storey commercial tower in Tanjong Pagar.

According to Ng, the redevelopment of Keppel South Central is a showcase of the company’s capabilities. The former Keppel Towers, a 27-storey office tower completed in 1991, and Keppel Towers 2 (formerly known as GE Tower), a 13-storey building completed in 1993, were transformed into a modern, 650,000 sq ft office and retail space.

The commercial tower has already secured a leading financial services group as its first anchor tenant, with more than 50% of its office space and retail units either leased or in active negotiations. The tower also boasts modern facilities such as facial recognition access, 5G Wi-Fi, and an indoor air-quality management system.

Keppel’s success in transforming Keppel South Central has strengthened its position as a global leader in sustainable urban renewal. The company’s Sustainable Urban Renewal (SUR) strategy aims to replicate this success across the Asia Pacific region, where there is a high demand for green-certified properties.

To fund the redevelopment of brownfield projects in the region, Keppel has launched the Keppel Sustainable Urban Renewal Fund (KSURF), with over $2.3 billion in funds under management. The fund will target properties in Singapore, South Korea, Japan, Australia, and first-tier cities in China.

Keppel’s expertise in executing asset enhancement works and its operational knowledge have positioned it as a top asset manager. The company’s in-house capability to select and implement new technologies also sets it apart from others in the industry.

Keppel’s commitment to sustainability and its proven track record in completing eight SUR projects across five countries gives it a competitive edge in the market. With its successful completion of Keppel South Central, Ng believes that Keppel is well-positioned to undertake more brownfield redevelopment projects in the future.

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