Expansion is synonymous with Tech Giant Google and it has been exponential in the Island nation for many good reasons. As more Companies like Singapore Airlines, Ninjavan, Wego etc. go online like Go-Jek and Carousell, the Google Cloud Platform (GCP) has been on the ever expansion mode for quite some years.
Added to GCP have been emerging technologies like Big Data, Machine Learning (ML), Artificial Intelligence (AI), Internet of Things (IoT) etc. needing more office space for the tech giant.
Google presently occupies about 500,000 square feet out of NLA 1.2 million sf at Singapore’s tallest high-rise business park, Mapletree Business City II, at an estimated rate of S$6 psf.
With no room left to expand here, it has almost finalized its expansion with its next door neighbour Alexandra Technopark, which is about 1.1 km from the Labrador Park MRT Station.
The office space available at Alexandra Technopark is courtesy of HP, which moved its facility to 1 and 1A Depot Close recently, purposely designed and built by Mapletree Industrial Trust in phases, to accommodate its Sales & Customer Service Office, Product, Software Development & Manufacturing facilities.
If Tech Giant Google takes over 400,000 sq ft of Alexandra Technopark as planned, then the owners Frasers Commercial Trust (FCOT) would be left with barely 10% NLA of their 1 million sf (approx.) business space campus.
The Alexandra Technopark is a cluster of two tower blocks and an Amenity Hub housed on a site zoned for Business 1 purpose.
The Amenity Hub was part of the recent asset enhancement initiative that started in January 2017.
The exercise also included facelift of the entire common area making the decade old building modern and swanky.
The Amenity Hub has Convenience Stores like 7-Eleven and Duo Jia Dorcas, fresh fruits & juices in The Fruit Market and a host of restaurants like Food Barn, Food Haven, Rocky Master, Sando etc. to name a few.
Other distinctive facilities include end-of-trip facilities for bicycle riders, function room equipped for business events, futsal courts, BBQ pits, child care centres and clinic services.
Tech Giant Google is likely to close the rental deal at S$4 psf as against the regular S$4.5 psf normally offered to lesser areas.
Being situated less than a kilometer (around 800 meters) from Labrador Park MRT Station and connected through walkways and travelators, the Mapletree Business City II is believed to enjoy a higher rental rate over Alexandra Technopark.
The Mapletree Business City II offers a work and play atmosphere including fitness stations, jogging paths, yoga garden, futsal courts, basketball courts, an Amphitheatre apart from a large food court serving multi-cuisine dishes set in greenery all around.
Real Estate Market leaders like Mapletree Investments Pte Ltd and Frasers Property, being clearly aware of the ever-expanding office market in Singapore, have been constantly developing and managing commercial properties, which has earned the trust of global leaders like Google.
They might even commit to develop purpose-designed facilities through these property experts in future.