Metro Holdings Limited has announced a substantial leasing achievement at its Asia Green property, reaching a committed occupancy rate of approximately 95% as of 31 March 2025. This follows the expiration of a major lease by Hitachi Asia, which previously occupied nearly 30% of the property’s net lettable area.
The Asia Green property, located in the Tampines Regional Centre, is 50%-owned by Metro and consists of two premium Grade-A office towers. The property has attracted new key tenants, including DIMENSIONS, a private school, SGX Mainboard-listed Food Empire Holdings, and the Eastern General Hospital Planning Office under SingHealth. These new leases have significantly contributed to the backfilling of the space vacated by Hitachi Asia.
Metro Group CEO and Executive Director Yip Hoong Mun commented on the achievement, stating, “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.”
Asia Green’s strategic location offers excellent connectivity, being a short walk from Tampines MRT Station and a brief drive from both Changi Airport and the Central Business District. The property, certified Green Mark Platinum, was valued at $320 million (S$435 million) as of 31 March 2025, up from $290 million (S$395 million) when acquired in April 2019.
The successful leasing progress at Asia Green is expected to enhance Metro’s recurring income and reflects the resilience of the Singapore office asset class within the company’s investment portfolio. The Tampines Regional Centre is poised for further development, potentially incorporating new mixed-use projects and enhanced connectivity.
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