From mall mainstay to mixed-use hub: what makes Hongkong Land’s One Raffles Quay tick

Jardine Matheson’s property arm Hongkong Land has turned One Raffles Quay in Singapore’s Marina Bay into a high-end office address for banks and multinationals. The mixed-use complex shows how the group’s real estate portfolio is positioned for premium urban tenants.

Edited by ad hoc news Flagship & Bestseller Desk. Reviewed before publication on 06/15/2026 at 8:40 AM ET. Details in the imprint.

One Raffles Quay in Singapore’s Marina Bay financial district is one of the flagship office properties of Hongkong Land, the real estate arm of Jardine Matheson, and has become a key address for global banks and financial institutions seeking premium Grade A space in the city-state’s central business district. The two-tower complex delivers large, efficient floor plates, direct connection to mass transit and proximity to Marina Bay’s broader ecosystem of offices, hotels and retail, positioning it as a cornerstone of Jardine’s regional commercial portfolio according to the developer’s official commercial portfolio overview.

What One Raffles Quay offers tenants on the ground

Developed jointly by Hongkong Land, Cheung Kong (Holdings) and Keppel Land, One Raffles Quay consists of the 50-story North Tower and the 29-story South Tower, providing more than one million square feet of net lettable Grade A office space designed for major corporate tenants, particularly in financial services and professional firms. The project sits directly above the Downtown MRT line with underground links to Raffles Place and Marina Bay stations, giving commuters multiple rail options and covered pedestrian access to neighboring developments in the Marina Bay and Raffles Place districts. Beyond transport, the complex offers on-site amenities such as food and beverage outlets, banking halls, and support services that aim to reduce friction in daily office operations while integrating with the wider Marina Bay retail and dining network. Lease structures at the property typically cater to large floor plates sought by global banks and trading operations, with column-free layouts supporting open-plan trading floors and flexible workspace configurations. From an architectural standpoint, the towers are designed with high floor-to-ceiling heights and full-height glazing to maximize natural light and bay views, elements that are often highlighted in marketing materials to justify prime CBD rental levels. As with other Grade A buildings in Singapore’s core CBD, leases at One Raffles Quay tend to be denominated in Singapore dollars and benchmarked against prevailing prime office rents, reflecting the asset’s positioning in the upper tier of the market according to local commercial real estate coverage by The Business Times and other outlets.

Operationally, management for One Raffles Quay emphasizes building systems and facilities that align with the expectations of multinational tenants, including 24-hour security, redundancy in mechanical and electrical infrastructure, and facilities management aligned with regional best practices. The property has also been integrated into the broader Marina Bay underground pedestrian network, which links multiple commercial developments, retail podiums and transport nodes, helping to sustain footfall and connectivity even during Singapore’s frequent tropical downpours. Several global financial institutions have historically used One Raffles Quay as regional headquarters or major operational hubs, underscoring the building’s role in hosting front-office and back-office teams that serve Asia-Pacific markets. Hongkong Land’s leasing strategy for the complex typically aims to maintain a high occupancy rate with blue-chip tenants, which supports relatively stable rental income and aligns with the parent group’s focus on long-term, income-generating commercial real estate in key Asian gateway cities.

In terms of sustainability and building standards, One Raffles Quay is part of a portfolio where Hongkong Land has sought green building certifications and energy-efficiency improvements, though specific certification levels for the complex vary by tower and are updated as retrofits or operational changes are implemented according to company disclosures and regional green-building registries. The property’s location within Singapore’s Marina Bay master plan means that it benefits from government-backed infrastructure investments, public realm enhancements and long-term planning that collectively aim to keep the district competitive with other Asian financial centers such as Hong Kong and Tokyo. As a result, tenant demand for well-located Grade A space in Marina Bay has remained relatively resilient across cycles, even as hybrid work and evolving office usage patterns push landlords to sharpen service levels and amenities. For Jardine Matheson, One Raffles Quay represents not only a source of recurring rental income but also a strategic foothold in a market widely regarded as a stable, business-friendly hub for multinational corporations operating across Southeast Asia.

Within Jardine Matheson’s diversified portfolio, Hongkong Land’s prime commercial properties like One Raffles Quay contribute a substantial share of underlying profit, reflecting the group’s long-standing strategy of owning and managing high-quality office and retail assets in core Asian cities according to recent full-year results disclosures. The emphasis on Grade A CBD properties in markets such as Hong Kong and Singapore is positioned as a counterweight to more cyclical businesses in the group, including automotive distribution and home improvement retail, providing a relatively predictable rental income stream. Shares of Jardine Matheson Holdings (SG1F60858221) most recently traded on the London Stock Exchange in US dollars, reflecting the group’s international investor base and its role as a long-established Asian conglomerate with significant exposure to property, retail, transport and other sectors.

One Raffles Quay in brief: key details

• Product: One Raffles Quay (office complex)
• Manufacturer: Hongkong Land Holdings, a member of Jardine Matheson Holdings Ltd.
• Category: Flagship/Bestseller commercial property
• Launch date: Phased completion in the mid-2000s as part of Singapore's Marina Bay development
• MSRP / Price: Not applicable - income-generating commercial real estate asset
• Availability: Leased Grade A office space in Singapore's Marina Bay financial district
• Target audience: Multinational corporations, financial institutions and professional services firms seeking large, premium office floor plates in Singapore's CBD
• Key differentiator / USP: Prime Marina Bay location with direct MRT connectivity, large column-free floor plates and integration into Hongkong Land's regional portfolio of Grade A commercial properties

This article was a.i.-assisted and editorially reviewed. Product information without warranty; prices and availability may change at short notice. Not investment advice and not a buy or sell recommendation. Trading involves risk up to and including the total loss of invested capital.