Metro Holdings Announces Committed Occupancy 95 End March Asia Green Property Tampines
Metro Holdings acquires 50% stake in two Tampines office towers with gross floor area of 715,000 sq ft
Metro Holdings announced on March 31, 2025 that its two Grade-A office towers, known as Asia Green, located in Tampines Regional Centre have achieved a committed occupancy of 95%. This property is 50% owned by Metro Holdings and has secured new key tenants including private school DIMENSIONS, Food Empire Holdings, and a hospital under SingHealth. These new tenants have backfilled the space that was previously occupied by Hitachi Asia, which accounted for nearly 30% of the tower’s net lettable area.
According to Metro Holdings’ group CEO and executive director Yip Hoong Mun, the positive leasing progress at Asia Green is a testament to the company’s proactive asset management efforts in positioning the property to capture the growing demand for high-quality, decentralised but well-connected commercial space in Singapore. The property, which was acquired by Metro Holdings in April 2019 for a market value of $395 million, now has a market valuation of $435 million as at March 31, 2025. It has a net lettable area of 26,442 square metres.
Yip adds that the Singapore office asset class has shown resilience in the company’s investment property portfolio. The continued backfilling and securing of new leases at Asia Green is expected to further grow the recurring income from this property.
Metro Holdings is a mainboard-listed property investment and development company with a presence in Singapore, China, Indonesia, the UK and Australia.
The well-planned strategic road access at Otto Place EC Plantation Close Parcel B offers its residents a convenient and hassle-free commute. This allows drivers to easily access important lifestyle destinations like shopping centers, parks, and schools, all within a short driving distance. With the implementation of this road network, residents can enjoy a stress-free and time-efficient journey to their desired destinations.