Hitachi Tower
Encyclopedia
Hitachi Tower is a skyscraper
located in the central business district
of Singapore
. It is located on 16 Collyer Quay
, in the zone of Raffles Place
, near Chevron House
, Change Alley
, Tung Centre, and The Arcade, all of which are roughly 100 metres away. Facing Clifford Pier
, the building commands a panoramic view of Marina Bay. It has an underground linkage to Raffles Place MRT Station
.
The skyscraper has a spire that is 13.0 m long, which extends the building's height from 166.0 m to 179.0 m. It is on a 999-year leasehold.
The 37-storey Hitachi Tower has a net lettable area of around 279,600 ft2 (25,980 mm2). The building had close to 100% occupancy as of December 31, 2007, and key tenants include Hitachi
and American Express
.
, Savu Investments Private Limited, CapitaLand Limited
, Obayashi Gumi Corporation, Sendai Eversendai Engineering Group, Steen Consultants Private Limited, PCR Engineers Private Limited, and Rider Hunt Levett & Bailey.
sold its 50% stake in Hitachi Tower for S$403.5 million, which it had earlier bought in 2000. The National University of Singapore
, which owns the remaining 50% of the office building, also sold its stake. Upon the deal’s completion, CapitaLand will recognise a gain of S$110.1 million.
According to CapitaLand, the deal took into consideration the agreed value of the development at $811 million, or about $2,900 per square foot of net lettable area. It also claimed the consideration was arrived at on a willing-buyer willing-seller basis. However, the company did not state the buyer, but sources said that the building was bought by a fund linked to Goldman Sachs
. This is based on the fact that Goldman Sachs bought the next-door Chevron House
a year earlier.
(URA), the two buildings are designed and planned in parallel, with each tower takes on different architectural expressions, while complementing each other to "strengthen the urban quality" of Raffles Place
.
The building is topped off by a two-storey navigating beacon. URA claims it recalls the maritime history of the Collyer Quay
area. Its facade
is expressed in three parts, which breaks the verticality of the 37-storey tower and creates a stepping down effect that matches with the height of its shorter neighbour, Tung Centre.
At the urban level, the two buildings respect and are designed around established patterns of pedestrian movement and urban use. The bank lobby is lifted to the upper floors to create Change Alley on the first storey, a pedestrian thoroughfare
lined with retail activities that is today, a well-used and vibrant space linking Raffles Place to Collyer Quay.
Skyscraper
A skyscraper is a tall, continuously habitable building of many stories, often designed for office and commercial use. There is no official definition or height above which a building may be classified as a skyscraper...
located in the central business district
Downtown Core
The Downtown Core is a 266-hectare urban planning area in the south of the city-state of Singapore. The Downtown Core surrounds the mouth of the Singapore River and southeastern portion of its watershed, and is part of the Central Area, Singapore's central business district...
of Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
. It is located on 16 Collyer Quay
Collyer Quay
Collyer Quay is a road in Downtown Core, Singapore that starts after Fullerton Road and ends at the junction of Raffles Quay, Finlayson Green and Marina Boulevard...
, in the zone of Raffles Place
Raffles Place
Raffles Place is a geographical location in Singapore, south of the mouth of the Singapore River. Located in the Downtown Core and the Central Area, it features some of the tallest buildings and landmarks of the country.-History:...
, near Chevron House
Chevron House
Chevron House, formerly called Caltex House, is a high-rise skyscraper located in the central business district of Singapore. It is located on 30 Raffles Place, in the financial district of Raffles Place...
, Change Alley
Change Alley
Change Alley is a cluster of shops in the financial district of Raffles Place in Downtown Core planning area in Singapore. It links Raffles Place to Collyer Quay. The place is named after the Change Alley of London, where stockbrokers congregated.The alley has a tenant mix of fashion, food,...
, Tung Centre, and The Arcade, all of which are roughly 100 metres away. Facing Clifford Pier
Clifford Pier
Clifford Pier is a pier located beside Collyer Quay at Marina Bay within the Downtown Core of Central Area, in Singapore's central business district....
, the building commands a panoramic view of Marina Bay. It has an underground linkage to Raffles Place MRT Station
Raffles Place MRT Station
Raffles Place MRT Station ' is a Mass Rapid Transit interchange station on the North South Line and the East West Line in Singapore. It is directly beneath the centre of the financial district of Raffles Place, located in the Downtown Core area, south of the Singapore River...
.
The skyscraper has a spire that is 13.0 m long, which extends the building's height from 166.0 m to 179.0 m. It is on a 999-year leasehold.
The 37-storey Hitachi Tower has a net lettable area of around 279,600 ft2 (25,980 mm2). The building had close to 100% occupancy as of December 31, 2007, and key tenants include Hitachi
Hitachi, Ltd.
is a Japanese multinational conglomerate headquartered in Marunouchi 1-chome, Chiyoda, Tokyo, Japan. The company is the parent of the Hitachi Group as part of the larger DKB Group companies...
and American Express
American Express
American Express Company or AmEx, is an American multinational financial services corporation headquartered in Three World Financial Center, Manhattan, New York City, New York, United States. Founded in 1850, it is one of the 30 components of the Dow Jones Industrial Average. The company is best...
.
History
Hitachi Tower was designed by Murphy/Jahn, Inc. Architects, and local firm Architects 61 Pte Ltd. It was completed in 1992. Other firms involved in the development include Hitachi, CapitaLand Commercial LimitedCapitaLand
CapitaLand Limited is the result of a merger in the year 2000 of then DBS Land and Pidemco Land. It is one of Asia's largest real estate companies. Headquartered and listed in Singapore, the company's core businesses are real estate development, hospitality and real estate financial services...
, Savu Investments Private Limited, CapitaLand Limited
CapitaLand
CapitaLand Limited is the result of a merger in the year 2000 of then DBS Land and Pidemco Land. It is one of Asia's largest real estate companies. Headquartered and listed in Singapore, the company's core businesses are real estate development, hospitality and real estate financial services...
, Obayashi Gumi Corporation, Sendai Eversendai Engineering Group, Steen Consultants Private Limited, PCR Engineers Private Limited, and Rider Hunt Levett & Bailey.
Selling of stake
On January 16, 2008, CapitaLandCapitaLand
CapitaLand Limited is the result of a merger in the year 2000 of then DBS Land and Pidemco Land. It is one of Asia's largest real estate companies. Headquartered and listed in Singapore, the company's core businesses are real estate development, hospitality and real estate financial services...
sold its 50% stake in Hitachi Tower for S$403.5 million, which it had earlier bought in 2000. The National University of Singapore
National University of Singapore
The National University of Singapore is Singapore's oldest university. It is the largest university in the country in terms of student enrollment and curriculum offered....
, which owns the remaining 50% of the office building, also sold its stake. Upon the deal’s completion, CapitaLand will recognise a gain of S$110.1 million.
According to CapitaLand, the deal took into consideration the agreed value of the development at $811 million, or about $2,900 per square foot of net lettable area. It also claimed the consideration was arrived at on a willing-buyer willing-seller basis. However, the company did not state the buyer, but sources said that the building was bought by a fund linked to Goldman Sachs
Goldman Sachs
The Goldman Sachs Group, Inc. is an American multinational bulge bracket investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients...
. This is based on the fact that Goldman Sachs bought the next-door Chevron House
Chevron House
Chevron House, formerly called Caltex House, is a high-rise skyscraper located in the central business district of Singapore. It is located on 30 Raffles Place, in the financial district of Raffles Place...
a year earlier.
Architecture
Hitachi Tower is linked to the 33-storey Chevron House by a four-storey glass galleria. According to the Urban Redevelopment AuthorityUrban Redevelopment Authority
The Urban Redevelopment Authority is the national urban planning authority of Singapore, and a statutory board under the Ministry of National Development of the Singapore Government.-Mission:The authority was established on 1 April 1974, and is of especially critical importance to the city-state,...
(URA), the two buildings are designed and planned in parallel, with each tower takes on different architectural expressions, while complementing each other to "strengthen the urban quality" of Raffles Place
Raffles Place
Raffles Place is a geographical location in Singapore, south of the mouth of the Singapore River. Located in the Downtown Core and the Central Area, it features some of the tallest buildings and landmarks of the country.-History:...
.
The building is topped off by a two-storey navigating beacon. URA claims it recalls the maritime history of the Collyer Quay
Collyer Quay
Collyer Quay is a road in Downtown Core, Singapore that starts after Fullerton Road and ends at the junction of Raffles Quay, Finlayson Green and Marina Boulevard...
area. Its facade
Facade
A facade or façade is generally one exterior side of a building, usually, but not always, the front. The word comes from the French language, literally meaning "frontage" or "face"....
is expressed in three parts, which breaks the verticality of the 37-storey tower and creates a stepping down effect that matches with the height of its shorter neighbour, Tung Centre.
At the urban level, the two buildings respect and are designed around established patterns of pedestrian movement and urban use. The bank lobby is lifted to the upper floors to create Change Alley on the first storey, a pedestrian thoroughfare
Thoroughfare
A thoroughfare is a place of transportation intended to connect one location to another. Highways, roads, and trails are examples of thoroughfares used by a variety of general traffic. On land a thoroughfare may refer to anything from a rough trail to multi-lane highway with grade separated...
lined with retail activities that is today, a well-used and vibrant space linking Raffles Place to Collyer Quay.