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Republic Plaza reopens for business with $70m makeover

by • September 27, 2019 • Commercial Property LoanComments (0)144

City Developments Limited (CDL) celebrated the launch of the newly revamped Republic Plaza (RP), its flagship property in the heart of Raffles Place, following an extensive S$70 million Asset Enhancement Initiative (AEI) which started in April 2018. While RP had previously undergone several enhancements, this is its first major facelift since the building was completed in 1996.

The 66-storey, 280-metre tall Republic Plaza is one of Singapore’s tallest skyscrapers. This rocket-shaped building has been a distinctive landmark in the city’s skyline.

The AEI includes a major makeover of RP’s main lobby, arrival frontage, individual lift lobbies as well as lift modernisation and significant interior enhancements to drive space efficiency. In addition, RP’s retail podium has expanded by another 3,400 sq ft of lettable retail space created from the partial conversion of its car parking area. Public area layouts were reworked to improve pedestrian traffic, and technical specifications were upgraded to cater for a greater variety of F&B offerings.

Republic Plaza

Image credit: CDL

Republic Plaza now has an exciting 24,100 sq ft retail enclave across three levels, housing close to 40 F&B and retail outlets offering a variety of local and international cuisines. Dining options include popular names like Din Tai Fung, Starbucks, Café Amazon, MOS Burger, Cedele, Dimbulah, as well as several new-to-market concepts like Heybo, BIGDADDY and SUKHUMVIT 100. RP’s new retail enclave also offers customisable grab-and-go concepts from outlets like SIMPLEburger Inc., MOJO and Wok Hey. Over 80% of the retail tenants are new to RP, while some returning tenants include TWG Tea, Pâtisserie Glacé, The Herbal Bar and Bose.

Mr Sherman Kwek, Group Chief Executive Officer of CDL, said, “Asset renewal and portfolio enhancement are key pillars of CDL’s G-E-T (Growth, Enhancement, Transformation) Strategy. The revamp of RP reflects our focus on rejuvenating our existing assets to unlock value and strengthen our recurring income stream. Through the AEI, RP has been transformed into a modern and vibrant destination in the Central Business District – renewing its standing as one of Singapore’s most iconic Grade A office landmarks.”

“Beyond infrastructure and space efficiency upgrades, we leveraged innovation and technology to redefine user experience through our proprietary CityNexus smart building app – transforming RP into a smart workplace of the future. The app interface is intuitive, bringing convenience at the touch of a finger. Post AEI, we have seen positive rental reversions at RP and achieved strong committed occupancy of over 90%, with the retail space fully leased.”

Apart from a stunning new glass canopy that forms the arrival frontage, another outstanding feature of the AEI is in RP’s main lobby. Upon arrival, visitors are welcomed by an impressive, eye-catching digital wall which comprises 622 Ultra High Definition (UHD) LED panels. At 1,800 sq ft, RP’s digital wall is not only the largest LED wall in the CBD but is also Singapore’s largest UHD LED wall in an office building.

Conceptualised as a ‘life-in-motion’ living display, the LED wall serves as a digital canvas for a specially curated series of stunning, larger-than-life 3D motion animation, transforming RP’s lobby into a living ‘gallery’ that offers a unique, ever-changing sensory experience, from day to night.

Created by CDL, CityNexus is a new, innovative smart building app for all Republic Plaza tenants to enhance user experience and convenience.

Tenants can access a myriad of value-added services (VAS) such as building access, meeting room booking, air-con extension request and building feedback submission. For a smooth visitor experience, tenants can provide their guests with direct turnstile entry and book dedicated VIP parking lots. The app includes an ‘Order-Pay-Collect’ function, enabling office tenants to pre-order their meals from RP F&B outlets and pick up when ready.

CDL also collaborated with United Overseas Bank (UOB) to provide RP’s F&B tenants with financial and digital solutions. UOB’s solutions complement the F&B pre-order function by streamlining end-to-end transaction workflows, helping tenants to enhance operational efficiency and gain real-time insight into their finances.

More VAS will be progressively added to the CityNexus digital platform. Currently available exclusively at Republic Plaza, the app will potentially be rolled out across other CDL office buildings. In conjunction with the launch of the revamped RP, a Founder’s Gallery was unveiled to honour the late Mr Kwek Hong Png, Founder of the Hong Leong Group, CDL’s parent company.

Beyond commercial space, Republic Plaza also provides a platform to support aspiring social innovators, complementing CDL’s sustainability commitment. A unit at RP’s basement has been converted into an incubator and co-working space for start-ups and social enterprises called Incubator4SDGs. This initiative is in partnership with the Singapore Centre for Social Enterprise (raiSE), United Nations Development Programme (UNDP) and Social Collider.

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