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Up Close and Personal featuring Benett Theseira, PGIM Real Estate
The fifth instalment of the Up Close and Personal Series features Benett Theseira, managing director at PGIM Real Estate and Head of APAC.
ULI SG x CapitaLand Young Leaders in Development featuring CapitaSpring Tour
17 June 2022
ULI Singapore in collaboration with CapitaLand our ULI Asia Pacific Corporate Partner hosted a Young Leaders in Development sharing session. This is part of the Young Leaders Group (YLG) Committee’s intent to support and showcase the young executives in the built environment industry.
(L-R) Janice Ho, Senior Manager, Asset Management, CapitaLand Investment; Nigel Ng, Manager, Retail & Workspace, CapitaLand Investment
Janice Ho, Senior Manager, Asset Management with CapitaLand Investment took the audience through the transformation journey of the 10-storey Golden Shoe carpark into CapitaSpring, a 51-storey integrated development that offers work, live, play spaces in a vertically connected environment. This BCA Green Mark Platinum development aims to be a next-generation platform for progressive businesses and changemakers.
Completed in November 2021, the development has approximately 1 million square feet gross floor area with a net lettable area of 673,000 square feet. With the challenging configuration of the footprint within a built-up area in the CBD, CapitaLand worked with Bjarke Ingels Group in collaboration with Carlo Ratti Associati, both of whom are world-renowned architects to create an iconic landmark in Raffles Place.
There was a detailed consideration on the rejuvenation of this site, evident by the streetscape enhancement for public movement into and around the space and includes City Room – an 18-metre high public atrium for community events and placemaking activities.
The creative process had begun in 2015. The development team, composed deliberately with colleagues of diverse age, background and experience, focused on how this iconic development would stand the test of time. The team believed strongly that it needed to offer flexibility and it must be an environment that stimulated health and wellness. The building features efficient and flexible floor plates with high specification column-free space. The work-live-play environment was very evident while this event was ongoing within the Green Oasis, a four-storey botanical promenade. We could see the public walking through Forest Walk, corporate executives networking around the adjacent Multi-Function hall, and children heading towards the Jungle Gym and Amphitheatre. Provisions were also made to be future-ready with capacity built-in for higher technology demands and the future conversion of the building’s carpark spaces to other uses as Singapore moves into a car-lite society.
Nigel Ng, Manager, Retail & Workspace of CapitaLand Investment shared about the initial phase of the development. They took time to engage the community and occupiers to learn about their preferences. Even before the pandemic, the feedback and ideas centered around less formal workspaces, more naturally ventilated spaces and a healthier place to work from. As young executives, the challenge for them was to translate these desires into a business case for management’s approval and back their convictions that the proposed “workplace of the future” concept would be an enduring one.
Inspired and awestruck, the audience eagerly asked Janice and Nigel many follow-up questions.
Noting that the development was completed at the height of COVID-19 pandemic in Singapore, they were asked about the additional costs that CapitaLand had to bear. Amazingly, the development team has kept within its budget! Fun fact: The Winter Orchid art installation by local artist Yeo Chee Kiong was commissioned to celebrate the foreign migrant workers behind CapitaLand’s developments.
They were asked whether such a diverse team led to challenges with differing views and weightage on decision factors. Nigel explained that from past projects, CapitaLand learned that it was vital to bring different people into the team because it was important for robustness in the design, construction, and ongoing maintenance through the building’s lifecycle. It allowed the team to be thoughtful and fully appreciative about the trade-offs vis-à-vis the overall project priorities – on time and within budget without compromising on vision. He added that where it was possible, some features that were not time sensitive could be brought in later.
Other questions that were posed to the speakers included the leasing take-up for the office space; the choice of keeping the hawker centre; the features the development team wished they could have included; and aspects that have presented better outcomes than expected. The candid sharing by Janice and Nigel left a deep impression with the audience.
The conversations carried on during the walking guided tour with them throughout the development and up to the breathtaking Sky Garden on Level 51.
The YLG Committee of ULI Singapore thank these young leaders from the CapitaLand Investment for their time and admirable passion in shaping the future of our built environment for transformative impact in our local community.
