Latest news with #Comcentre
Yahoo
09-07-2025
- Business
- Yahoo
Singtel's redeveloped Comcentre to be Singapore's first AI-enabled, 5G+ connected building
Set to be completed by 2028, the new $3 billion Comcentre will also be the first end-to-end carbon-neutral development in the country with Triple Certification in Singapore and Asia. Singapore Telecommunications (Singtel) and Lendlease have officially broken ground on the new Comcentre, which is slated for completion in 2028. The $3 billion development will feature more than 110,000 square metres of gross floor area across two 20-storey Grade A office towers. It will also include 20,000 square metres of retail and lifestyle spaces (comprising Singtel's new flagship store, F&B offerings, medical suites, a gym, and an auditorium) along with the largest elevated urban park in central Singapore. Set to be Singapore's first AI-enabled building, the Comcentre will be powered by dedicated 5G+ connectivity using network slicing technology provided by Singtel. This will support the seamless integration of AI, IoT sensors, and building systems to enable predictive operations, resource optimisation, and enhanced security. The building will also feature smart infrastructure that adapts to environmental conditions, alongside technology-enabled spaces designed for the future of work and retail. 'The new Comcentre will be the first AI-enabled building powered by dedicated 5G+ connectivity with network slicing to deliver ultra-fast speeds, seamless connectivity and robust security for its tenants. [We are] creating a place not just for ourselves but for businesses to use the latest technologies to develop new products and solutions and thrive. This will showcase how advanced connectivity, data and intelligent systems can transform the way people work, live and engage with their environment,' says Singtel Group CEO Yuen Kuan Moon at the groundbreaking ceremony. Besides that, the Comcentre will be a carbon-neutral development, from design through construction and operations, through the use of smart building and digital technologies. It is on track to be the first in Singapore and Asia to achieve a 'Triple Certification.' The development is targeting the International Living Future Institute's Zero Carbon certification and the WELL v2 Core Platinum Certification from the International WELL Building Institute. It also aims to become Singapore's first Green Mark Platinum (Zero Energy) high-rise commercial building under the Building and Construction Authority (BCA)'s sustainability guidelines, meeting all five of BCA's sustainability badges. Designed to achieve 70% energy savings from the Green Mark 2005 baseline, the building will cut energy consumption by an estimated 12 million kWh annually, enough to power over 3,750 three-room HDB flats, said Lendlease group CEO and managing director Tony Lombardo. To meet these targets, the project will include efforts such as: 1,000 kWp onsite renewables installed through the use of rooftop photovoltaic (PV) panels and building integrated photovoltaic panels (BiPV) to generate renewable energy Centralised high-efficiency dual-temp chiller plant supported by Active Chilled Beam and Variable Air Volume hybrid cooling system with elevated setpoint temperature for improved energy efficiency Low heat gain façade with high-performing glazing and extensive building shading to reduce cooling demand Smart lighting system with daylight and occupancy sensors for adaptive dimming and energy savings High-efficiency lifts with Variable Voltage Variable Frequency, sleep mode and regenerative features to optimise energy use EV-ready infrastructure, enabling up to 30% of parking lots to support electric vehicles (EV) The development will also reduce potable water use by 69% (equivalent to 25 Olympic-sized swimming pools) through rainwater harvesting as well as using NEWater for toilet flushing and a water intelligence system. '[This project] combines our deep expertise in sustainable development with a vision for how people will live, work and connect in the future. We are proud to partner with Singtel to deliver a world-class asset that not only redefines the workplace, but also sets a new benchmark for sustainable and connected living in Singapore and beyond,' says Lombardo. The redevelopment will showcase a digital-first approach to construction. Lendlease and its partners will implement 19 integrated digital delivery (IDD) use cases, ranging from digital design checks and virtual coordination to real-time asset monitoring and digital operations. Advanced construction methods will also be used to cut on-site labour needs by up to 30% and shorten delivery timelines by as much as 20%, according to a joint press statement. At the same event, Minister for National Development Chee Hong Tat highlighted the Comcentre's innovative contracting model as a blueprint for future developments. 'It is amongst the few major private sector projects in Singapore to incorporate an open-book payment model with gain share and Guaranteed Maximum Price, and is a forerunner for more collaborative and risk-sharing models in Singapore's Built Environment sector. This is a progressive shift away from the traditional lump sum contracting model that is common in the industry today,' he says. Under this arrangement, contractors are reimbursed for actual costs up to an agreed ceiling, with cost savings shared between the developer and builder. This encourages continuous innovation, joint problem-solving, and aligned incentives towards delivering better outcomes. 'When completed, the new Comcentre will not only be a showcase of future-ready infrastructure but also a model of how sustainability, technology and collaboration can come together to redefine and transform our built environment for future generations to come,' adds Chee. As at 12pm, shares in Singtel are trading 6 cents higher or 1.54% up at $3.96. 8% y-o-y to $8.2 mil Singtel's enhanced connectivity solution to support enterprises' global IoT deployment DBS raises Singtel's TP to $4.58, says telco's core value could increase by 180% Read more stories about where the money flows, and analysis of the biggest market stories from Singapore and around the World Get in-depth insights from our expert contributors, and dive into financial and economic trends Follow the market issue situation with our daily updates Or want more Lifestyle and Passion stories? Click hereError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNA
09-07-2025
- Business
- CNA
New Singtel headquarters to feature 20,000 sq m of retail and lifestyle space
SINGAPORE: Singtel's new Comcentre headquarters is expected to add about 20,000 sq m of lifestyle and retail space to the Orchard Road precinct. Set to be completed in 2028, the new building at its Exeter Road site will feature a sheltered arcade, the biggest elevated urban park in Singapore and a pet-friendly area. The S$3 billion (US$2.3 billion) redevelopment will comprise two 20-storey towers with a total gross floor area of more than 110,000 sq m. The first few floors will be open to the public with amenities including a gym, auditorium, medical centre, eateries and retail outlets. Meanwhile, 80 per cent of the space will be dedicated to Grade A offices - the highest quality of office space available. Singtel is the project's co-developer and anchor tenant, occupying 30 per cent of the space. Its new flagship store will also be situated there. An underground walkway will link Devonshire Road to Killiney Road and Exeter Road. Minister for National Development Chee Hong Tat said on Tuesday (Jul 8) that the redevelopment of the Comcentre is expected to invigorate the surrounding area and provide more amenities. 'The revitalised Comcentre will serve as a vibrant community hub with new public spaces and improved connectivity, bringing people from all walks of life together, supporting local businesses,' he said during a groundbreaking event. Singtel Group CEO Yuen Kuan Moon said the centre integrates 5G+ network slicing technology and smart building infrastructure. '(This creates) a place … for businesses to use the latest technologies to develop new products and solutions and thrive,' he added. 'Overall, it will be a state-of-the-art technology building for the future.' GREEN BUILDING Singtel's Comcentre started operations as the telco's headquarters in 1979, and its redevelopment was announced in 2022. A joint venture between Singtel and Australian developer Lendlease, the new Comcentre is set to be Singapore's first carbon-neutral commercial development. Every phase, from design to construction to day-to-day operations, is targeted at reducing carbon emissions. The project aims to achieve a 70 per cent improvement in energy efficiency compared to its 2005 baselines. It will also generate 1,000 megawatt-hours of renewable energy on-site annually from green technologies such as solar panels. Lush greenery will feature on the ground floor, at an open terrace on the fourth floor as well as the rooftop. 'As we work towards realising Singapore's vision for more ambitious sustainability standards in the built environment, I hope the Comcentre can serve as a shining example of how commercial success and environmental sustainability can go hand-in-hand,' said Mr Chee. The centre is also on track to be the first in Asia to achieve three major green-building certifications. Mr Tony Lombardo, Lendlease Group's CEO and managing director, said that 90 per cent of material from the demolished building will be recycled. He said the project 'not only redefines the workplace, but also sets a new benchmark for sustainable and connected living in Singapore and beyond.' Building and Construction Authority CEO Kelvin Wong hailed the project as a milestone on the sustainability front. 'In the Singapore green building master plan, we have goals for 80 per cent of buildings to achieve super low energy as well as 80 per cent (improvement in) energy efficiency by 2030,' he said. 'This project helps us achieve new steps and progress towards those goals.'
CNA
08-07-2025
- Business
- CNA
New Singtel headquarters to have 20,000sqm of retail and lifestyle space
Singtel's new Comcentre headquarters is expected to add 20,000 square metres of lifestyle and retail space to the Orchard Road precinct. Set to be completed in 2028, the building will include eateries, the biggest urban park in Singapore and even a pet-friendly space.
Business Times
08-07-2025
- Business
- Business Times
Singtel, Lendlease break ground on new S$3 billion Comcentre
[SINGAPORE] Singtel and Lendlease broke ground on Tuesday (Jul 8) for what will be the telco's new Comcentre headquarters on its former site on Exeter Road. The building, being redeveloped at the cost of S$3 billion, will be the largest Grade-A office space in the Orchard Road precinct, taking up 110,000 square metres (sq m). The previous Comcentre had a gross floor area of 105,371 sq m. Singtel will be the anchor tenant, occupying 30 per cent of the total development area. Slated for completion in 2028, the project will have two 20-storey Grade-A office towers, covering 81,960 sq m in gross floor area. It will also feature 20,000 sq m of lifestyle and retail spaces, including Singtel's new flagship store, food and beverage (F&B) outlets, medical suites, a gym and an auditorium. The total net lettable space available for lease is about 54,000 sq m. The Business Times understands there has been 'strong interest from a broad spectrum of companies', though official marketing and leasing starts only in 2026. Singtel employees who used to work in the monolithic Orchard Road area landmark were relocated to SingPost Centre and other Singtel premises across the island in 2024, ahead of the demolition works. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up The new Comcentre coming up on the site will be open to the surrounding neighbourhood with a large sheltered walkway and a pedestrian thoroughfare lined with retail and F&B outlets. It will be connected to Somerset MRT station through a sheltered, above-ground link and another link at B2 level. Designed by New York-based architecture firm Kohn Pedersen Fox and landscape architect Field Operations, the project will feature the largest elevated urban park in central Singapore, at nearly a hectare in size. At the groundbreaking ceremony of Singtel's new Comcentre were Singtel's group chief executive Yuen Kuan Moon, Australian High Commissioner to Singapore Allaster Cox, Minister for National Development Chee Hong Tat and Lendlease's group chief executive Tony Lombardo. The new Comcentre is set to be Singapore's first end-to-end carbon neutral development. PHOTO: SINGTEL, LENDLEASE Minister for National Development Chee Hong Tat, speaking at the groundbreaking ceremony, said: 'The redevelopment of the Comcentre is expected to enliven the Somerset area, and provide new amenities for the surrounding community.' He added: 'The revitalised Comcentre will serve as a vibrant community hub with new public spaces and improved connectivity – bringing people from all walks of life together, supporting local businesses, and contributing to a more inclusive and dynamic Orchard Road for all Singaporeans.' The redevelopment was announced in 2022 when Singtel partially divested Comcentre to a joint venture (JV) company with Lendlease, with an eye on maximising the site's potential, increasing building efficiency, unlocking value from the property, and strengthening Singtel's financial position. Singtel holds 51 per cent of the JV, with Lendlease owning 49 per cent. Singtel's net profit for FY2025 rose to S$4.02 billion, up from S$795 million the year before, driven mainly by a net exceptional gain of S$1.55 billion from the partial divestment of Comcentre. The new development will incorporate AI-enabled robotics, smart-building infrastructure that adapts to its environment, and technology-enabled spaces designed for work and retail. It is on track to becoming Singapore's first development that is end-to-end carbon-neutral, encompassing its design, construction and operations. Measures include using low-carbon concrete and steel, and reusing 40 per cent of crushed concrete waste from existing structures. The project is also expected to earn three major green-building certifications. Minister Chee highlighted the use of a different contracting model, under which contractors are paid for the actual costs up to a fixed limit, with costs savings shared between developer and builder. Digital technology will streamline workflows, improve teamwork and boost efficiency throughout the project. Advanced construction methods, such as robotic installation system for elevators, are expected to reduce on-site labour by up to 30 per cent and speed up project completion by up to 20 per cent.
Yahoo
23-05-2025
- Business
- Yahoo
Singtel Announces a S$2 Billion Share Buyback Programme: 5 Things Investors Should Know
As earnings season rolls on, many blue-chip companies are releasing their latest business updates and earnings. Singtel (SGX: Z74) is one of them, and the telco also followed up its earnings release with a surprise announcement of a S$2 billion share buyback programme. The telco's latest announcement adds one more method to its value realisation arsenal. Recall that Singtel had announced the payment of a value realisation dividend (VRD) for the previous fiscal year from its capital recycling activities. Here are five things you need to know about the telco's latest earnings report. Singtel reported a robust set of earnings for its fiscal 2025 (FY2025) ending 31 March 2025. Revenue stayed flat year on year at S$14.1 billion. Operating profit, however, rose 11.1% year on year to S$3.9 billion because of lower operating expenses and a year-on-year increase in the share of associates' pre-tax profits. Net profit stood at S$4 billion for FY2025 but was boosted by an exceptional gain of S$1.55 billion from the partial divestment of Comcentre. Excluding this one-off item, Singtel's underlying net profit would have climbed 9.3% year on year to S$2.47 billion. The telco also generated positive free cash flow of S$2.5 billion for FY2025, registering a small 3.6% year-on-year decline. For Singtel's Singapore division, operating revenue dipped by 2.1% year on year to S$3.8 billion. Mobile service revenue remained flat, while roaming and the Internet of things revenue were offset by legacy services decline. Operating profit remained stable year on year at S$833 million. Singtel saw the number of Singapore mobile customers dip 2.4% year on year to 4.5 million, with the blended average revenue per user (ARPU) slipping 3.3% year on year to S$24. Data usage continued to surge, jumping almost 20% year on year to 15 GB per month. The telco, however, experienced slightly higher churn of 1.2% and saw its market share falling from 46.3% in FY2024 to 44.6% for FY2025. On the flip side, both Optus (Singtel's Australian division) and NCS posted strong results. Optus' revenue inched up 1% year on year to A$8.2 billion, led by a 4% year-on-year increase in mobile service revenue as postpaid subscribers paid more. Operating profit for the division shot up 55% year on year to A$446 million, contributed by better mobile performance and improved cost management. Over at NCS, revenue rose 5% year on year to S$2.98 billion, with Gov+ contributing to this increase. Cost optimisation, along with higher margins, resulted in NCS reporting a 39% year-on-year increase in operating profit to S$254 million. The division also saw robust bookings of S$3.2 billion for FY2025, up 5% year on year. Singtel provided encouraging guidance for FY2026 and will focus on the key areas highlighted in the slide above. In addition, the telco will continue to work on the simplification of its products and enhance system and process efficiencies. Management expects to achieve gross savings of S$600 million before the impact of inflation. Singtel expects to register operating profit growth in the high single digits before associates' contributions for FY2026. Management also reiterated its low double-digit return on invested capital (ROIC) target in the mid-term. To further realise value for shareholders, Singtel's board authorised its first share buyback programme of S$2 billion as part of the group's capital management strategy. This programme allows for the purchase of up to 5% of Singtel's total issued shares. The share buybacks will be conducted over three years till FY2028, and the repurchased shares will be cancelled. For FY2025, Singtel declared a core final dividend of S$0.067 and a final VRD of S$0.033, taking the total final dividend to S$0.10. Together with the total interim dividend of S$0.07, Singel will pay out a FY2025 total dividend of S$0.17, higher than the previous fiscal year's S$0.15. Investors should note that FY2025's total dividend comprises S$0.123 in core dividends and S$0.047 of VRD. Meanwhile, management also raised its capital recycling pipeline target from the previous S$6 billion to S$9 billion. The capital raised will be allocated for growth opportunities and may be used to pay down debt. Any excess capital will be returned to shareholders via the VRD (S$0.03 to S$0.06 per year) and share buyback programme. Explore Singapore's top 'evergreen' stocks with our FREE report. It spotlights 7 Singapore blue-chip stocks with solid dividends and growth potential. Click here to download it now to create a flow of dividend income, regardless of market conditions. Follow us on Facebook and Telegram for the latest investing news and analyses! Disclosure: Royston Yang does not own shares in any of the companies mentioned. The post Singtel Announces a S$2 Billion Share Buyback Programme: 5 Things Investors Should Know appeared first on The Smart Investor.
