French bank CIC moving into MBFC

by Cheryl Tay

French banking group CIC will move to its new home at a 31,000 sq ft space in the Marina Bay Financial Centre (MBFC) Tower 3 (pictured).

To date, the 46-storey tower is also home to tenants such as Ashurst LLP, WongPartnership, McGraw-Hill, Rio Tinto, Lego, Fitness First, DBS Bank, Clifford Chance, Mead Johnson and Regus, reported The Business Times.

CIC was represented by Jones Lang LaSalle (JLL) in the leasing agreement, while CBRE acted as the leasing agent for MBFC.

Around 200,000 sq ft of office space in Tower 3's 1.3 million sq ft net of lettable area (NLA) is still available. It received its temporary occupation permit (TOP) in the first quarter of 2012.

Meanwhile, URA data has revealed that 764,237 sq ft office space was taken up in Q3, taking this year's nine-month total to 1.69 million sq ft. Last year's figure was 2.3 million sq ft.

In terms of supply, CBRE predicts that 1.4 million sq ft of office space will be built this year, less than the three million sq ft in 2011.

Moreover, some 2.6 million sq ft of offices are due for completion next year, from projects such as Jem, Asia Square Tower 2 and The Metropolis.

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