Singtel and Lendlease Launch Leasing at One Comcentre, Orchard Road's First Grade A Mixed-Use Development in Two Decades

Leasing has begun at One Comcentre, the redevelopment of Singtel's former headquarters at 31 Exeter Road in Singapore's Somerset precinct, with Singtel and Lendlease co-developing what they describe as Orchard Road's first Grade A mixed-use project in 20 years. The development is targeting completion by the end of 2028 and will introduce more than 1 million square feet of office, retail, dining, wellness and community space to the Orchard Road corridor.

Singtel will occupy approximately 30% of the total space, including its retail flagship store, leaving roughly 70% of the development available to third-party tenants. The project is being brought to market as Singapore's Grade A office vacancy reaches its lowest level in nearly two decades, with Core CBD Grade A vacancy falling to 2.6% in the third quarter of 2026 and rents rising to S$12.75 per square foot per month — the strongest quarterly increase since the third quarter of 2022.

Project Scale and Design

One Comcentre will comprise twin 20-storey office towers with large floorplates of approximately 25,000 to 27,000 square feet each. The development will include six levels of amenities: a 400-seat auditorium, medical suites, gyms, a private members' club, and extensive dining and wellness offerings. A one-hectare elevated park — described as the largest in Central Singapore — will be integrated into the site, along with fully sheltered access to Somerset MRT station.

The site served as Singtel's headquarters for more than four decades. Its redevelopment is intended to transform the precinct into a mixed-use urban hub combining workplaces, lifestyle offerings and public spaces.

Gan Siok Hoon, Singtel's Group Chief Corporate Officer, said: "When Comcentre first opened in 1979, it was aptly described as a beacon to the future. As we redevelop the site, we are creating a new beacon for future generations, setting the benchmark for how technology, sustainability and human-centred design come together to help people and businesses thrive for decades to come. With Singtel as co-developer and anchor tenant, we will ensure that the infrastructure and technology stay ahead of the curve. This uniquely positions One Comcentre to give tenants first access to the latest capabilities without having to build the infrastructure themselves."

Singapore's First AI-Native Building

Singtel and Lendlease are positioning One Comcentre as Singapore's first AI-native building, with Singtel's 5G+ connectivity embedded into the development's core infrastructure from the ground up. The network architecture uses network slicing — dedicated, secure, high-speed and low-latency connections among building systems, applications and devices — to support a range of AI applications across building and tenant operations, from intelligent building management to physical AI such as robotics.

Tenants will have access to a suite of Singtel services tailored to their operations, including security-as-a-service and robotics-as-a-service, allowing occupiers to deploy advanced technologies without building the underlying infrastructure themselves.

Sustainability Certifications

One Comcentre is described as Singapore's first end-to-end carbon-neutral Grade A commercial property, with sustainability integrated across its design, construction and operations. The Building and Construction Authority has provisionally certified the development Green Mark Platinum Zero Energy under the Green Mark v7 pilot, making it Singapore's only newly built large-scale Grade A commercial development to attain that standard to date. The project has also received WELL Platinum precertification from the International WELL Building Institute, and is targeting International Living Future Institute Zero Carbon Certification version 1.0 — a combination that would make it the first property in Asia to receive all three certifications.

Lendlease's Role and Market Context

Singtel is drawing on Lendlease's urban regeneration and placemaking expertise to deliver the mixed-use components of the project. Debra Ma, Director, Development, Singapore, Lendlease, said: "One Comcentre represents an important milestone in the ongoing evolution of Orchard Road and its next chapter as a leading lifestyle destination. It is a reflection of Lendlease's capabilities in delivering places that are vibrant, connected and future-ready. Together with Singtel, we are proud to create a landmark that advances placemaking, sustainability and innovation, while setting a new benchmark for sustainable urban development in Asia."

Moray Armstrong, Managing Director, Singapore, CBRE, said: "Demand for quality Grade A office space in Singapore remains resilient, particularly for developments that combine location, connectivity and modern workplace capabilities. Even before formally commencing leasing, One Comcentre has attracted strong interest from a broad range of prospective tenants, reflecting pent-up demand for premium, future-ready workplace solutions. Increasingly, we are seeing tenants expand their search beyond the traditional CBD as they look for workplaces that help attract talent, strengthen culture and support long-term growth. Opportunities that bring these attributes together at scale are rare, particularly within Orchard Road. This is what makes One Comcentre distinctive."

The supply backdrop supports the timing of the leasing launch. No major office completions were delivered in Singapore in the third quarter of 2026, and substantial new supply is not expected until 2028, when projects including One Comcentre are scheduled to deliver. Only Newport Tower, with approximately 200,000 square feet of net lettable area, is expected to complete in 2027. Market estimates indicate that new CBD Grade A supply may average only 400,000 to 500,000 square feet annually in 2026 and 2027, against historical annual demand of approximately 900,000 to 1.3 million square feet. Large occupiers are increasingly considering relocations to Orchard Road as prime CBD availability tightens, a trend that Singtel and Lendlease are positioning One Comcentre to capture.

Sources

Lendlease Media Release: Leasing begins for One Comcentre, Orchard's first Grade A office and retail development in 20 years