Allianz Group in year's biggest CBD office leasing transaction

PropertyGuru

14 December 2012 at 12:53 am

by Cheryl Tay

Allianz Group will lease about 90,000 sq ft at the Asia Square Tower 2 (pictured), marking this year's biggest CBD office leasing transaction, reported The Business Times.

The deal will see the German financial services provider occupying levels 13, to 15 of the building. However, Allianz is also expected to take up level 12, expanding its presence in the 46-storey building to 120,000 sq ft. The size of the space is expected to be finalised by the end of January next year.

Allianz will transfer to Asia Square by end-2013; the move will not only offer more room for expansion but will also be a consolidation for the group as it exits from two of its current locations, Prudential Tower and Centennial Tower.

The tower's large 30,000 sq ft floor plates allow Allianz to house over 500 employees on only three levels, enabling more collaboration and greater efficiency among its team.

"We will benefit from having all our different lines of business housed under the same roof," said Gesa Walter, Regional General Manager, Corporate Communications, for Allianz SE.

"This move underscores Allianz's commitment to this market and recognises Singapore's importance as a major financial hub and international business centre."

The leasing deal advised by Colliers International is a first for Asia Square Tower 2, which will receive its Temporary Occupation Permit (TOP) in Q3 2013.Cheryl Tay, Editor of CommericalGuru, wrote this story. To contact her about this or other stories, email cheryltay@allproperty.com.sg

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