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The Metropolis continues to underpin Ho Bee’s earnings as it looks to divest Sentosa units

Jade Chen
Jade Chen5/21/2018 07:30 AM GMT+08  • 9 min read
The Metropolis continues to underpin Ho Bee’s earnings as it looks to divest Sentosa units
SINGAPORE (May 21): The two grey towers of The ­Metropolis, situated right outside the Buona ­Vista MRT station, stand at 21 and 23 storeys each. The towers have more than one million sq ft of net lettable area and an eye-catching, state-of-the-art envi
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SINGAPORE (May 21): The two grey towers of The ­Metropolis, situated right outside the Buona ­Vista MRT station, stand at 21 and 23 storeys each. The towers have more than one million sq ft of net lettable area and an eye-catching, state-of-the-art environment. Surrounded by trees and with artwork by world-renowned artists decorating the public area of the complex, it offers a pleasant transition from the MRT to the office towers.

The building has world-class facilities and lives up to its reputation of being the only Grade-A office building in the one-north precinct in Buona Vista. It is an integrated development comprising not only office towers but also a plethora of retail and F&B outlets such as Starbucks, Simply Sandwich and Mr Bean.

The Metropolis is home to tenants such as the Singapore Exchange, and MNCs Procter & Gamble, General Electric and Heineken Asia Pacific. It is also where Ho Bee Land’s headquarters are located. More importantly for the company, The Metropolis’ rental income contributed to some 50% of the developer’s revenue last year. According to Ho Bee’s 2017 annual report, rental income for FY2017 was $90.3 million, contributing about 55% to group revenue for the year. Of this, 91% or $82.71 million was from The Metropolis. The balance was mainly from industrial buildings and residential projects in Sentosa Cove.

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