The Central Business District (CBD) is set to get another green building.
CapitaGreen, a 40-storey office tower to be built on the site of the former Market Street Carpark, will be property developer CapitaLand’s second environmentally-friendly building in the CBD following One George Street, which opened in 2004.
There are 940 green buildings here, according to the Building and Construction Authority (BCA).
Of these, 70 are office buildings, with a total gross floor area of 2.8 million sq m, that have met BCA’s Green Mark certification standards.
Construction of the $1.4-billion CapitaGreen project - to be jointly developed by Capita- Land, CapitaCommercial Trust and Mitsubishi Estate Asia - officially began yesterday.
The new building, which will have 700,000 sq ft of net lettable space, will have many green features in its design.
Its facade will be made from high- performance double- glazed glass that will reduce heat from the sun, and hence cut down the need for air-conditioning.
A “cool void” in the centre of the building will let in fresh air from the rooftop to each floor.
The tower is expected to be completed in the fourth quarter of 2014. Rental rates are expected to fall between $12 and $14 per sq ft.
At the ground-breaking ceremony yesterday, CapitaLand chief executive Liew Mun Leong said he is confident about tenancy rates, especially as no new premium office space is expected here in 2014.
He added that previously announced projects with office spaces are already about 60 per cent leased.
Mr Liew said the nearby 10-storey Golden Shoe Carpark - also owned by CapitaLand - is likely to be slated for redevelopment soon. The site can offer more office space and a larger floor area than CapitaGreen.
