issue 6 sep 2014 your capita letter · for its new singapore office, cargill, one of america’s...

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ISSUE 6 SEP 2014 CAPITA LETTER your experienced design-and-build contractor, more holistic and efficient solutions could be adopted. One of the earliest considerations was a strong foundation, necessary to support CapitaGreen’s commanding height of 242 metres, which had to steer clear of the immediate surrounding underground East-West and Downtown MRT tunnels. With the help of a piling specialist, extra-strong 3.5-metre-diameter reinforced-concrete bored piles, notably the largest ever used in Singapore, were designed for the foundations. Due to their larger size, the final count of piles could be reduced, saving resources and time. In conventional approaches, the deepest basement structures are built first to support those above it, but the open cut excavation involved was deemed incompatible with the site’s unstable soil. Hence, an alternative top-down construction method was advocated. This allowed the 3-storey basement car park and 40-storey superstructure that houses the offices and commercial spaces to be built concurrently, in a shorter span of time. This construction method was also safer and more environmentally friendly. By designing the floor slabs to withstand the basement walls, temporary steel struts were eliminated. With the upper structures, Priding itself as a leader in quality and responsible construction, CapitaLand, together with its joint venture partners, CapitaCommercial Trust (CCT) and Mitsubishi Estate Asia, have embraced sustainable and best practices for their new Grade A office building, CapitaGreen, at 138 Market Street. A number of creative strategies were employed by the development team, comprising design architect Toyo Ito & Associates, project architect RSP Architects Planners & Engineers, and main contractor Takenaka Corporation, to enhance productivity and streamline the construction time to 36 months, ahead of the usual 40 months required. CapitaGreen occupies the unique site of the former Market Street Car Park. Located in the centre of Singapore’s highly built-up Central Business District, the attractive and accessible site nevertheless posed several aboveground and underground building challenges. The building is closely bounded by major roads Cecil Street, Market Street, and Cross Street. It also sits in the midst of the existing Telok Ayer and Raffles Place MRT stations that connect to an underground network of tunnels. By partnering with an established and PROPERTY A TRIUMPH IN CONSTRUCTION Innovative construction solutions have put CapitaGreen on the fast track to completion. The Grade A office building celebrated its topping out on 2 July and is due to complete by the end of the year. >> Q U A R T E R L Y F O R C C T T E N A N T S P O R T F O L I O

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Page 1: ISSUE 6 SEP 2014 your CAPITA LETTER · For its new Singapore office, Cargill, one of America’s largest privately held companies and a world leader in commodities, sought an office

I S S U E 6 S E P 2 0 1 4

C A P I T A L E T T E Ry o u r

experienced design-and-build contractor, more holistic and efficient solutions could be adopted.

One of the earliest considerations was a strong foundation, necessary to support CapitaGreen’s commanding height of 242 metres, which had to steer clear of the immediate surrounding underground East-West and Downtown MRT tunnels. With the help of a piling specialist, extra-strong 3.5-metre-diameter reinforced-concrete bored piles, notably the largest ever used in Singapore, were designed for the foundations. Due to their larger size, the final count of piles could be reduced, saving resources and time.

In conventional approaches, the deepest basement structures are built first to support those above it, but the open cut excavation involved was deemed incompatible with the site’s unstable soil . Hence, an alternative top-down construction method was advocated. This allowed the 3-storey basement car park and 40-storey superstructure that houses the offices and commercial spaces to be built concurrently, in a shorter span of time. This construction method was also safer and more environmentally friendly. By designing the floor slabs to withstand the basement walls, temporary steel struts were eliminated. With the upper structures,

Priding itself as a leader in quality and responsible

construction, CapitaLand, together with its joint venture partners, CapitaCommercial Trust (CCT) and Mitsubishi Estate Asia, have embraced sustainable and best practices for their new Grade A office building, CapitaGreen, at 138 Market Street. A number of creative strategies were employed by the development team, comprising design architect Toyo Ito & Associates, project architect RSP Architects Planners & Engineers, and main contractor Takenaka Corporation, to enhance productivity and streamline the construction time to 36 months, ahead of the usual 40 months required.

CapitaGreen occupies the unique site of the former Market Street Car Park. Located in the centre of Singapore’s highly built-up Central Business District, the attractive and accessible site nevertheless posed several aboveground and underground building challenges. The building is closely bounded by major roads Cecil Street, Market Street, and Cross Street. It also sits in the midst of the existing Telok Ayer and Raffles Place MRT stations that connect to an underground network of tunnels. By partnering with an established and

P R O P E R T Y

A TRIUMPH IN CONSTRUCTION I n n ova t i ve c o n st r u c t i o n s o l u t i o n s h ave p u t C a p i t a G r e e n o n t h e f a st t ra c k t o c o m p l et i o n . T h e G ra d e A o f fi c e b u i l d i n g c e l e b ra t e d i t s t o p p i n g o u t o n 2 Ju l y a n d i s d u e t o c o m p l et e by t h e e n d o f t h e ye a r.

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Q U A R T E R L Y F O R C C T T E N A N T S

P O R T F O L I O

Page 2: ISSUE 6 SEP 2014 your CAPITA LETTER · For its new Singapore office, Cargill, one of America’s largest privately held companies and a world leader in commodities, sought an office

P O R T F O L I O

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V E N T U R E

TWENTY ANSON EMBARKS ON ENHANCEMENT PROGRAMME

A N E W G R E E N O F F I C E F O R CA R G I L L A S I A - PA C I F I C

On 11 July 2014, prime office building Twenty Anson commenced its first building enhancement works since it was acquired by CapitaCommercial Trust (CCT) in 2012. Tenants and visitors to Twenty Anson can expect a more attractive, efficient, and secure experience at the building.

Scheduled for completion in January 2015, the enhancements target common areas for a more pleasant arrival experience and shared facilities such as the upgrading of low-rise lift motors for more efficiency. The implementation of a destination control system will allocate passengers to lift cars to optimise waiting and travelling times. Other upgrading works include: a new security turnstiles system, a new concierge counter, a visitor self-registration kiosk, and the relocation of the tenant service centre to level four.

Similar objectives were recently realised at other properties including Capital Tower, Raffles City Tower, and Six Battery Road. CCT implements regular building enhancement works for its buildings to improve workplace environments for tenants and optimise their environmental performance.

For more information and updates regarding upgrading works, visit www.cct.com.sg/TA.

T h e e n v i s i o n e d l o b b y o f Tw e n t y A n s o n a f t e r i t s o n g o i n g r e v a m p . ( I m a g e : C a p i t a L a n d S i n g a p o r e)

noise from the basement construction was contained and underground work shielded from the rain.

Commendably, CapitaGreen is also Singapore’s first building to pilot “supercrete”, a special grade 100 and ultra-high-strength concrete, expected to revolutionise high-rise concrete construction. As supercrete is stronger than the average grade 30 to 50 concrete, the amount needed to withstand a load may be significantly reduced, saving energy and manpower. After several rounds of trial mixes in laboratories, supercrete was util ised for six floors of 29 columns each in CapitaGreen, enabling fewer and slimmer columns, in l ine with the vision of large column-free floor plates. This move was supported by Takenaka’s research and development team in Japan and Building and Construction Authority’s sustainable construction fund.

Central to Toyo Ito’s design, the double-glazed façade that is intended as a greenhouse for balcony planter boxes to flourish orchestrated its own sophisticated assembly l ine. To transport the glass sheets, temporary high-speed and high-capacity Koshihara l ift models, which were imported from Japan and allowed installation from the interiors, were preferred to traditional cranes, which posed risks related to working from heights. Likewise, the precast planter boxes were transported by lift and installed internally rather than via tower cranes. By freeing up cranes for structural works, the latter could be more efficiently completed.

An efficient composite slab system for the floors combining precast concrete and steel beams reduced the typical floor cycle time from nine days to six days per floor. The project has also championed building information modelling, an intell igent and integrated 3D visualisation tool, to enable more effective communication between all parties in managing such a mega project.

On 2 July, CapitaGreen celebrated its topping out, marking the structural completion of its highest floor. At the ceremony were guest of honour and Minister for National Development Khaw Boon Wan and design architect Toyo Ito. They were joined by representatives from the three joint venture partners CapitaLand, CCT, and Mitsubishi Estate Asia, as well as Takenaka Corporation, in a symbolic planting ceremony. One sapling was planted for each of the nine plant species that comprise the building’s landscaping palette. The landscaping will be concentrated in the iconic balcony planters and sky terraces.

The smooth journey of the building bodes well for the joint venture partners, particularly CCT, in its first development. In his address, Lim Ming Yan, President and Group Chief Executive Officer of CapitaLand, praised the contributions of the joint venture partners, their consultants, contractors, staff, bankers, investors, and government agencies. Lynette Leong, Chief Executive Officer of CapitaCommercial Trust Management Limited, said, “Given that CapitaGreen is

For its new Singapore office, Cargill , one of America’s largest privately held companies and a world leader

in commodities, sought an office location that would provide an engaging work environment for employees, meet Cargill ’s future business needs, and reflect Cargill ’s values around sustainability and environmental stewardship. CapitaGreen is an ideal choice for several reasons, including its central and convenient location, range of amenities in the surrounding area, and good transport links. The Grade A office building’s Green Mark Platinum certification from the

the only new Grade A office development in the Central Business District completing in the next two years, it is well positioned to leverage on the l imited office supply to progressively attract more tenants.”

O N T H E COV E R , L E F T TO R I G H TC a p i t a G r e e n ’s s t r u c t u r e i n v i ew b e f o r e i t s s k i n of l i v i n g p l a n te r s h a s g r ow n; P o o n H i n Ko n g ( l e f t m o s t), S e n i o r V i ce P r e s i d e n t , D e s i g n & D eve l o p m e n t (Com me rcia l), C a pita L a n d Singa pore, b r ief ing Min is te r for N ational Develop me nt K h aw B o o n Wa n a n d C EO of CC T M L Ly n e t te L e o n g o n C a p i t a G r e e n ’s co n s t r u c t i o n methods an d view of the cool void jus t before completion; S ec tion of C apitaG reen s h ow i n g h ow i t s d e s i g n o pt i m i s e s a i r f l ow. ( I m a g e s : M S O Tr u s t)

Page 3: ISSUE 6 SEP 2014 your CAPITA LETTER · For its new Singapore office, Cargill, one of America’s largest privately held companies and a world leader in commodities, sought an office

P O R T F O L I O

C A P I T A L A N D N E W S

A C C O L A D E S

T H E I N T E R L A C E W I N S I N AUG U R A L U R B A N H A B I TAT AWA R D D O U B L E G O L D F O R

CA P I TA C O M M E R C I A L T R UST AT S I N G A P O R E C O R P O R AT E AWA R D S 2 014

T h e I n t e r l a ce ’s u n i q u e s t a c k i n g o f b l o c k s co n t r i b u t e s t o i t s u r b a n l i ve a b i l i t y. ( P h o t o : C a p i t a L a n d S i n g a p o r e)

In July, CapitaCommercial Trust (CCT) was recognised with wins in two award categories at the Singapore Corporate Awards 2014. For Best Annual Report, CCT won the Gold award in the REITs and Business Trusts category, while another two CapitaLand-sponsored REITs, Ascott Residence Trust and CapitaRetail China Trust, won the Silver and Bronze awards respectively. CCT also won a second Gold award for Best Investor Relations in the REITs and Business Trusts category.

Other than timely, unbiased, and transparent communication with its unitholders, CCT also seeks to make them more appealing. Lynette Leong, Chief Executive Officer of CapitaCommercial Trust Management Limited, said, “We continually make efforts to raise the bar in the quality of content and disclosures, so that they are relevant and useful to the investing community and our stakeholders, and to present information in a clear, comprehensive, and refreshing manner.”

The Best Annual Report award encourages excellent financial reporting presentation, awareness of mandatory

Designed by the renowned OMA/Ole Scheeren, The Interlace is one of CapitaLand Singapore’s most prominent and sustainably designed condominiums. Located at Depot Road, The Interlace has stood out with its unconventional design featuring 31 super blocks, each six storeys tall, stacked in a hexagonal arrangement around eight courtyards.

The residential project recently received the inaugural Urban Habitat Award presented by the Council on Tall Buildings and Urban Habitat (CTBUH) based at the Ill inois Institute of Technology Chicago. The award was established to recognise projects with designs that are aligned with their surroundings, both environmentally and culturally. The Interlace was also recognised for its innovative concept of spaces and community and emphasis on sustainability and universal design. Its interlocking blocks resemble a “vertical village” with cascading sky gardens and roof terraces, among extensive amenities interwoven throughout the development. With such expansive landscaping, the project is at home on the nine-kilometre-long green belt.

The Interlace is among a portfolio of award-winning residential projects, including upcoming d’Leedon and Sky Habitat, by CapitaLand Singapore. Wong Heang Fine, Chief Executive Officer of CapitaLand Singapore (Residential), said, “We set out to create iconic projects with outstanding designs that are not only within reach of those who aspire to own private residential home units, but also those who aspire to lead a unique lifestyle.” The Interlace is co-developed by Hotel Properties Limited.

Building and Construction Authority and innovative design are also consistent with Cargill ’s environmental values.

The move to CapitaGreen also reflects Cargill ’s strong commitment to Singapore and the region as the global company celebrates its 150th anniversary, built on helping people and organisations thrive. The new office will provide a base for around 500 employees from Cargill ’s Asia-Pacific regional headquarters, who represent its businesses across the platforms Agricultural Supply Chain, Energy Transportation & Metals, Animal Nutrition, Financial, and Food Ingredients as well as supporting functions. Cargill is in the process of developing a workplace strategy for the new 51,000-square-foot office at CapitaGreen to reflect its core values, with a focus on innovation, collaboration, health and safety, and sustainability. This work space design will help its employees better serve and engage its customers and help its communities to thrive.

and voluntary accounting practices, and socially responsible reporting. The Best Investor Relations award recognises the best investor relations practices among listed companies, which exceed the mandatory regulations in quality of disclosure, corporate transparency, and fairness in disclosure.

The Singapore Corporate Awards was launched in 2005 to raise Singapore’s standards of corporate disclosure and corporate governance. It is co-organised by the Institute of Singapore Chartered Accountants, Singapore Institute of Directors, and The Business Times. It is supported by the Accounting and Corporate Regulatory Authority and Singapore Exchange.

Ly n e t te L e o n g , C EO of CC T M L , a n d H o M e i P e n g , H e a d of I nve s to r Re l a t i o n s a n d Co m m u n i c a t i o n s (s i x t h a n d e i g h t h f r o m l e f t) , p i c t u r e d a t t h e aw a r d s ce r e m o ny w i t h ot h e r m e m b e r s of t h e CC T te a m . ( P h oto: C a p i t a Co m m e r c i a l Tr u s t)