CDL unveils Republic Plaza after $70 mil makeover

SINGAPORE (EDGEPROP) - City Developments Ltd (CDL) has unveiled its newly revamped Republic Plaza (RP) after an extensive $70 million asset enhancement initiative (AEI) that started in April 2018. While RP had previously undergone several enhancements, this is its first major facelift since the building was completed in 1996.
RP comprises a 66-storey Grade-A office building with retail podium and a 23-storey annex block. It has a total gross floor area of approximately 1.1 million sq ft and total net lettable area of 780,000 sq ft. The RP revamp is the second AEI that CDL has undertaken as part of its growth, enhancement, transformation (G-E-T) strategy. Last year, CDL completed a $30 million AEI for Le Grove Serviced Residences, reconfiguring the original 97-unit property into 173 serviced apartments for lease.
Republic Plaza’s AEI includes a major makeover of its main lobby, arrival frontage, individual lift lobbies as well as lift modernisation (Photos: Samuel Isaac Chua/EdgeProp Singapore)
“The revamp of RP reflects our focus on rejuvenating our existing assets to unlock value and strengthen our recurring income stream,” says Sherman Kwek, group CEO of CDL. “Post AEI, we have seen positive rental reversions at RP and achieved strong committed occupancy of over 90%, with the retail space fully leased.”

More retail and F&B options

RP’s AEI includes a major makeover of its main lobby, arrival frontage, individual lift lobbies, as well as lift modernisation. In addition, the Grade-A office building’s retail podium was expanded by another 3,400 sq ft of lettable space. This was done by partially converting its car-park area. CDL also reworked RP’s public area layouts to improve pedestrian traffic, and technical specifications were upgraded to cater for more F&B offerings.
Following the revamp, RP now has 24,100 sq ft of retail space across three levels where close to 40 F&B and retail outlets are located. Over 80% of the retail tenants are new to RP, while returning tenants include TWG Tea, Pâtisserie Glacé, The Herbal Bar and Bose.
CDL has reworked RP’s public area layouts to improve pedestrian traffic