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Daimler moving from Centennial Tower to Westgate in Jurong
German group can expect rent savings of about 30% from move; GE Life also signs up at Westgate Tower
Kalpana Rashiwala
Published Wed, May 6, 2015 · 09:50 PM
Singapore
GERMANY'S Daimler group, which owns the Mercedes-Benz brand, is moving from glitzy Centennial Tower in Marina Centre to Westgate Tower next to Jurong East MRT Station.
The move underscores the importance of saving in occupation cost for corporates, say market watchers. Daimler is expected to pay about S$6 psf in monthly rent at Westgate Tower, which would be about 30 per cent lower than what it could have expected to pay had it renewed its lease at Centennial Tower, which is said to expire in the first quarter of next year.
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