CommercialCOMMERCIALDistrict 4 · Bukit Merah

Keppel Bay Tower

Reviewed by Nathan TangUpdated 8 November 2026

Quick Summary

Keppel Bay Tower is a commercial building in District 4 · Bukit Merah, on land zoned COMMERCIAL under the URA Master Plan. 18 units are currently listed for rent. ACRA records 1,249 live company registrations at this address.

The facts are here — now get the verdict on Keppel Bay Tower.

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What are the key facts about Keppel Bay Tower?

Key takeawayKeppel Bay Tower is a commercial building in District 4 · Bukit Merah, zoned COMMERCIAL.

Asset class: Commercial
Land-use zone: COMMERCIAL
Gross plot ratio: Subject to Detailed Planning
Tenure: Not on record
District / Area: District 4 · Bukit Merah
Address: 1 Harbourfront Avenue
Land area: 7,341 sqm
Completed: Not on record
Storeys: Not on record
Owner: Keppel REIT (SGX filings)
Net lettable area: 386,600 sq ft (the owner's SGX filings)
Submarket: City Fringe
Listed as: Office
Transactions on record: None recorded
Live listings: 18
ACRA registrations: 1,249

No recorded transactions — this building has never generated a strata caveat (typically single-owner or lease-only stock). That is not missing data, and it says nothing about the building's value, occupancy or availability.

Who owns Keppel Bay Tower, and what is it valued at?

Key takeawayKeppel Bay Tower is owned by Keppel REIT, a REIT listed on SGX. The figures below come from its own SGX filings, each with its date. A valuation is an independent valuer's opinion for the owner's accounts, not a sale price.

Valued at S$750 million as at 31 Dec 2025.

from its annual report (2025)

per Keppel REIT's SGX filing, 25 Mar 2026

Earlier: S$730 million (30 Jun 2024) · S$715 million (31 Dec 2023) · S$710 million (30 Jun 2023) · S$710 million (31 Dec 2022)

Keppel Bay Tower: Keppel REIT's annual report (2025)

Tenants: 35
Land tenure: Leasehold 99 years
Major tenants: Ernst & Young, BMW Asia

per Keppel REIT's annual report (SGX), 25 Mar 2026, page 122

Whole-building deals

Announced 23 Dec 2020
RBC Investor Services Trust Singapore Limited, in its capacity as trustee of Keppel REIT bought Keppel Bay Tower for S$657.2 million (agreed property value) from Agathese Pte. Ltd..
At the time: NLA 386,600 sq ft · occupancy 99.2% (Sep 2020)
Announcement on SGX

Source: the owners' own filings on SGX — notices of valuation of real assets, acquisition and divestment announcements, and annual reports. Facts only, each with its date; a valuation is not a sale price, and occupancy and WALE are as of the date shown. Only REITs and SGX-listed companies file these: a building with a private owner shows no owner here.

About Keppel Bay Tower

Keppel Bay Tower is a commercial building in Bukit Merah (District 04). It is located along Harbourfront Avenue, Singapore 098632.

Under the URA Master Plan it sits on land zoned commercial.

It occupies roughly 7,341 sqm of land with about 61,633 sqm of gross floor area.

1,283 businesses are currently registered at this address with ACRA.

The nearest MRT is Harbourfront MRT, 392 m away (about a 6-minute walk). The closest bus stop (Opp HarbourFront Int) is 158 m away (about a 2-minute walk). HarbourFront Centre is 287 m away (about a 4-minute walk).

What is Keppel Bay Tower zoned as?

Key takeawayKeppel Bay Tower sits on land zoned COMMERCIAL.

Land-use zone: COMMERCIAL
Gross plot ratio: Subject to Detailed Planning
Urban design area: Keppel Ud Area

URA has not published a fixed plot ratio for this site — the Master Plan records "SDP" (Subject to Detailed Planning), meaning intensity is decided case by case on application. Do not quote a plot ratio, and do not compute buildable GFA from it.

Run the full zoning report for this building →

What does space at Keppel Bay Tower rent for?

Key takeawayNo rent is published for Keppel Bay Tower itself. On its street, Harbourfront Avenue, office space rented at a median of $8.76 psf a month in 2026Q3, with the middle half of leases between $8.63 and $8.97. That is not this building's own rent, and never a quote for a particular unit.

Office space on Harbourfront Avenue

Street level · 2026Q3

25th pct

$8.63

$92.84 psm

Median

$8.76

$94.28 psm

75th pct

$8.97

$96.58 psm

S$ per sq ft per month

URA's percentiles of OFFICE rents across every lease stamped with IRAS on this STREET in the quarter — the street's figure, not this building's rent and never a unit's. URA publishes a median only where the street has at least 2 office buildings and 3 contracts that quarter (percentiles need 4); a blank means below that threshold, not zero.

Source: URA rental statistics by street (IRAS-stamped contracts).

Retail space — District 4 retail

Region band · 2026Q3

25th pct

$17.17

$184.86 psm

Median

$22.45

$241.61 psm

75th pct

$27.49

$295.93 psm

S$ per sq ft per month

A REGION BAND — URA's grid for the whole district or location, not this street or building. Say "across <district/location>, …", never that this building rents for it. The middle of URA's retail grid for District 4 across every floor and size band — a ground-floor shop and an upper-floor unit sit at very different points in it.

Source: URA REALIS retail rental analysis (district × floor × size grid).

Market context around Keppel Bay Tower

Key takeawayBrokers' office figures for this part of Singapore — a broker's market figure, not this building's rent.

CBRE, 2Q 2026

Decentralised: Vacancy 3.6%

Singapore Figures Q2 2026

Cushman & Wakefield, 2Q 2026

City Fringe (all grades): Rent S$7.83 psf/mth · Vacancy 2.5% · Planned / under construction 1.35m sq ft

Singapore Office MarketBeat Q2 2026

Official series (URA, 2026Q3): Office vacancy rate (Whole Island) 10 (-1.2 pp on the year) · Office rental index (Central Region) 203.4 (+1.8% on the year).

Brokers draw submarkets and grades differently; each figure is the broker's own, for its own area, cited to its report. Rents are per square foot per month.

How fast units move at Keppel Bay Tower

Key takeawayBased on listings we track, as of our last check on 28 Aug 2026: 18 units for rent.

Rent: between 6 Aug 2026 and 28 Aug 2026, 1 new listing appeared and 0 came off (sold, let or withdrawn). Days on market: not enough history yet — we began tracking on 6 Aug 2026.

One count per unit, however many agents list it. Asking prices are not tracked over time, so price cuts are not shown.

What's been approved at Keppel Bay Tower?

Key takeawayURA has approved 8 changes of use at Keppel Bay Tower since 2000, most recently in 2026. This is the building's planning history, not today's approved use of any unit: confirm a unit's approved use with URA before signing.

8 Jul 2026ApprovedFloor 5
Change of use to shop
Proposed change of use of office unit #05-XX to shop
8 Jun 2022ApprovedFloor 1
Change of use to showflat
Proposed change of use of unit #01-XX to showflat at keppel bay tower
21 Sept 2021ApprovedFloor 1
Change of use to gym/fitness centre with ancillary refreshment area
Proposed change of use of unit #01-XX to gym/fitness centre with ancillary refreshment area at keppel bay tower
11 Jun 2019ApprovedFloor 1
Additions & alterations
Proposed amendment to approved addition and alteration and change of use of unit #01-XX from bank to restaurant, unit #01-XX from cafeteria to office of the approved 18-storey office building with 6-storey commercial/ office podium with basement carpark and ancillary facilities mk01 on lot 03435x at 1 harbourfront avenue (bukit merah planning area)
8 Jan 2019ApprovedFloor 1
Change of use to shop
Change of use of the 1st storey unit #01-XX to shop
12 Dec 2018ApprovedFloor 1
Additions & alterations
Proposed addition and alteration and change of use of unit #01-XX from bank to restaurant, unit #01-XX from cafeteria to office of the approved 18-storey office building with 6-storey commercial/ office podium with basement carpark and ancillary facilities mk01 on lot 03435x at 1 harbourfront avenue singapore 098632 (bukit merah planning area)
2 Aug 2018Approved
Additions & alterations
Proposed addition of an internal staircase at 10, 11 and 12 storeys within the approved 18-storey office building with 6-storey commercial/ office podium with basement carpark and ancillary facilities
30 Jan 2018ApprovedFloor 7
Change of use to medical clinic
Proposed change of use of unit #07-XX to medical clinic at keppel bay tower
31 Mar 2017ApprovedFloor 1
Change of use to shop
Proposed change of use of unit #01-XX to shop (for physiotherapy) at keppel bat tower
25 Sept 2014ApprovedFloor 1
Change of use to restaurant
Proposed change of use of shop unit #01-XX to restaurant at 1 harbourfront avenue (bukit merah planning area)
28 Sept 2005ApprovedFloor 4
Change of use to customer service centre
Change of use of part of the 4th storey (#04-XX) to customer service centre
18 Jun 2003Approved
Additions & alterations
Proposed additions & alteration to approved erection of 18-storey office building with 6-storey commercial / office podium with basement carpark & ancillary facilities

Source: URA planning decisions (URA Data Service), matched to this building by address or land lot. A past approval can lapse (a temporary permission) and belongs to the unit it names. The authoritative approved use of a unit comes from URA's Enquiry on Approved Use of Premises (S$54.50 per unit).

What do commercial rents run near Keppel Bay Tower?

Key takeawayURA publishes contracted-rent percentile grids quarterly (latest: 2026Q3) — the benchmark evidence an asking rent should be weighed against.

Retail rents — District 4 ($ psm/month, 2026Q3)

Floor level · size band	25th pct	Median	75th pct
B1 & Below · >30 - 100	$327.15	$377.29	$413.21
Level 2 & 3 · >30 - 100	$438.57	$460.53	$532.53
Level 1 · >30 - 100	$210.99	$452.85	$613.41
B1 & Below · >100 - 300	$158.73	$202.94	$277.38
Level 2 & 3 · >100 - 300	$230.89	$234.71	$285.90
Level 1 · >100 - 300	$102.84	$248.51	$305.96
Level 1 · >300	$118.87	$146.96	$173.51
Level 2 & 3 · >300	$126.62	$129.06	$145.34

URA REALIS rental-contract percentiles for the district/location — an area benchmark, not this building's own rents. Office and retail are dimensioned differently and are never mixed.

What is available at Keppel Bay Tower right now?

Key takeaway18 units are currently listed at Keppel Bay Tower. One row per unit; several agents often market the same unit.

For rent (18)

Keppel Bay TowerS$13k/mo · 2,000 sqft
Keppel Bay TowerS$17k/mo · 1,907 sqft
Keppel Bay Tower2 agentsS$42k/mo · 4,700 sqft
Keppel Bay Tower9 agentsS$27k/mo · 2,971 sqft

Browse every listing at this building →

What is near Keppel Bay Tower?

Key takeawayThe nearest MRT/LRT is Harbourfront MRT, about 392 m away.

Getting around

Harbourfront MRT392 m · ~6 min

Amenities nearby

Drs. Bain and Partners LLP · 40 mOpp HarbourFront Int · 158 mKing'S Dock Park · 158 mHarbourfront MRT Exit B · 279 mPort / Airport · 283 mCold Storage Singapore (1983) Pte Ltd · 287 mHarbourFront Centre · 287 mPlace Of Worship · 560 mHotel · 627 mBlk 36 Telok Blangah Rise · 965 m

Straight-line distances. Source: PropKaki amenities data.

Getting there and parking at Keppel Bay Tower

Key takeawayThe nearest station is HarbourFront (NE1 / CC29), 279 m away — one of the busiest stations, with about 97,000 taps in and out on an average weekday. 3 public car parks are within 500 m; the cheapest URA season parking nearby is S$125 a month.

Foot traffic: busier than 20% of office buildings

nearest MRT/LRT HarbourFront (NE1/CC29) 279 m, about 97,000 taps a weekday; bus stops within 400 m: 4, about 20,000 taps a weekday; Bukit Merah: 103,575 resident workers (Census 2020, by workplace); about 5,718 residents within 1 km (June 2026). Ranked against 485 office buildings by PropKaki's model: a relative score, not a footfall count.

A relative score from PropKaki's model (station and bus taps nearby, workers and residents around), not a count of people.

Stations within 1 km

HarbourFront (NE1 / CC29)279 m · about 97,000 weekday taps

Taps are fare-card taps in and out at the station's gates on an average weekday (Jul 2026 to Sep 2026) — people passing through, not visitors to Keppel Bay Tower. Transfers between lines don't tap, so interchanges read low.

Bus

4 bus stops within 400 m, with about 20,000 boardings and alightings on an average weekday.

Public car parks within 500 m

Maritime Square D Off St (URA)300 m
S$0.60 per half-hour at midday on a weekday · 258 car lots
Seah Im Rd Off St (URA)313 m
S$0.60 per half-hour at midday on a weekday · season S$125/month · 434 car lots
VivoCity P2 (development car park)419 m
rates not published as open data

Public car parks only, by straight-line distance, with the operator's published rates. Keppel Bay Tower's own car park, if it has one, and its charges are not in the open data.

Who's registered at Keppel Bay Tower?

Key takeaway1,249 live companies (and LLPs and branches; sole proprietors are not counted) list Keppel Bay Tower as their registered address. These are registered businesses, not who occupies the space.

Financial and insurance
685
Professional, scientific and technical services
140
Wholesale and retail trade
130
Information and communications
86
Transportation and storage
53
Manufacturing
38
Real estate
29
Administrative and support services
25
Electricity, gas and air-conditioning supply
13
Other services
10

Registered businesses, not who occupies the space: companies, LLPs and branches whose REGISTERED address is this building (ACRA), by industry. Sole proprietors are not counted; no business is named. ACRA, as of 2026-09-16.

Frequently asked questions about Keppel Bay Tower

Where is Keppel Bay Tower?⌄

Keppel Bay Tower is at 1 Harbourfront Avenue, Singapore 098632, in the Bukit Merah planning area.

What is Keppel Bay Tower zoned as?⌄

Keppel Bay Tower sits on land zoned commercial under the URA Master Plan.

Have there been any recorded transactions at Keppel Bay Tower?⌄

No caveats have been lodged for Keppel Bay Tower in the URA records we track. That is common for buildings held by a single owner, which never generate strata transactions.

What is the nearest MRT station to Keppel Bay Tower?⌄

Harbourfront MRT is the closest, 392 m away (about a 6-minute walk).

How many businesses are registered at Keppel Bay Tower?⌄

1,283 businesses are currently registered at this address with ACRA. That is a measure of registered addresses, not of how many businesses physically occupy the building.

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Year of completion is not on record for this building. Building age cannot be stated.

Submarket: PropKaki's own map from URA's planning subzones (CBD core, City Hall / Bugis, Orchard, city fringe, regional centres, suburban). Brokers draw these lines differently.

Changes of use: URA planning approvals recorded at this building since 2000 (any unit; renewals of a temporary permission not counted). History only — Past approvals are not today's approved use; check with URA's approved-use enquiry before signing. Never say a use is allowed, permitted or approved for a unit, and never say a use would be approved.

Owner: the REIT or SGX-listed company whose latest valuation notice or annual report lists this building (a later divestment removes it). '(N% interest)' or '(part of the strata)' when it holds less than the whole. A building with no listed owner shows none — a private owner is never named.

Net lettable area: as the owner's acquisition announcement on SGX printed it, at the time of the deal.

Station taps: average weekday fare-card taps in and out at the nearest MRT/LRT station (LTA DataMall). People passing the station's gates, not people visiting this building.

Season parking: the cheapest URA car season rate (commercial ticket) at a public car park within 500 m, per month. HDB's season rates depend on a zone we don't have, so they are shown as HDB's tiers.

Foot-traffic score: PropKaki's relative score from nearby MRT and bus taps, workers and residents around (and, for retail, competing malls), ranked against buildings of the same kind. A percentile, not a count of people.

Company REGISTRATIONS at this address (ACRA), not a tenancy schedule. Registration does not mean the company physically occupies space here, and a low count does not mean the building is empty. Do not describe this as occupancy or vacancy.

Unbuilt GFA cannot be computed here — it needs BCA built-GFA, which covers about 5% of commercial buildings and no industrial ones. Zoning and plot ratio are on record; headroom is not.

Tenure is not recorded for this building. Commercial tenure coverage is roughly 40% (industrial is far better at ~90%).

Reviewed by Nathan Tang

Nathan Tang has over 10 years of property experience across condominiums, HDB flats and commercial property, specialising in property research and finance.

Figures draw on URA and JTC records, URA Master Plan zoning, ACRA registrations and live commercial-portal listings; building facts from PropKaki's submarket map, URA planning decisions, the owner's SGX filings, URA car park data (URA Data Service), LTA DataMall passenger volumes, PropKaki's foot-traffic model — see our methodology. Last updated 8 November 2026. For general information, not financial advice.

Owners, valuations and deals: the owners' own filings on SGX (notices of valuation of real assets, acquisition and divestment announcements, annual reports), facts only, each with its date.

Getting there and parking: LTA DataMall passenger volumes and car parks, URA Data Service car park rates, HDB and JTC car park information (data.gov.sg) and HDB's published parking charges, Census of Population 2020 and the Singapore Department of Statistics' June 2026 resident population (Singapore Open Data Licence). The foot-traffic score is PropKaki's own relative model, not a count.

Market context: figures cited from CBRE Research (Singapore Figures) and Cushman & Wakefield (Singapore MarketBeat), each with its quarter and report; flexible-workspace centres from the operators' public location lists; collective sales from marketing agents' announcements and news reports, each linked.

Rents: URA rental statistics for office and retail space by street (IRAS-stamped contracts), JTC J-SPACE rentals by building and by street, JTC price tenders, and URA REALIS rental grids. SLA tender results and JTC posted land rents are held for state and JTC land.