Metro Holdings has announced a committed occupancy of 95% as at March 31, 2025 for its two Grade-A office towers located in Tampines Regional Centre.
The towers, known as Asia Green, are 50% owned by Metro and have new key tenants including private school DIMENSIONS, Food Empire Holdings, and a hospital planning office under SingHealth.
These spaces were backfilled after it was vacated by Hitachi Asia after its lease expiry. It accounted for nearly 30% of the property’s net lettable area (NLA).
Asia Green had a market valuation of $395 million when it was acquired in April 2019. The property has a market valuation of $435 million as at March 31, 2025, and a NLA of 26,442 square metres.
“The Singapore office asset class continues to be resilient in our investment property portfolio. The positive leasing progress achieved at Asia Green is testament to our proactive asset management efforts in positioning the property to continue capturing tenant demand for quality, decentralised but well-connected commercial space. We expect the continued backfilling and new leases secured to further grow our recurring income from Asia Green,” says Metro group CEO and executive director Yip Hoong Mun.
Metro Holdings is a mainboard listed property investment and development company with a footprint in Singapore, China, Indonesia, the UK and Australia.
See also: Hongkong Land to sell 147,025 sq ft of One Exchange Square to HKEX for HK$6.3 bil
Shares in Metro closed flat at 37.5 cents on May 7.
