CommercialCOMMERCIALLeaseholdDistrict 5 · Queenstown

Mtower

Reviewed by Nathan TangUpdated 8 November 2026

Quick Summary

Mtower is a commercial building in District 5 · Queenstown, on land zoned COMMERCIAL under the URA Master Plan with a gross plot ratio of 2.8. It is leasehold. 24 units are currently listed for rent. ACRA records 227 live company registrations at this address.

The facts are here — now get the verdict on Mtower.

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What are the key facts about Mtower?

Key takeawayMtower is a commercial building in District 5 · Queenstown, zoned COMMERCIAL, held leasehold.

Asset class: Commercial
Land-use zone: COMMERCIAL
Gross plot ratio: 2.8
Tenure: Leasehold
District / Area: District 5 · Queenstown
Address: —
Land area: 27,408 sqm
Completed: 1986 (per Wikipedia)
Storeys: 42 (per Wikipedia)
Owner: Mapletree Pan Asia Commercial Trust (SGX filings)
Net lettable area: 523,582 sq ft (the owner's annual report (as filed on SGX))
Car-park lots: 749 (the owner's annual report (as filed on SGX))
Submarket: City Fringe
Listed as: Office, Food & Beverage, Light Industrial (B1)
Transactions on record: None recorded
Live listings: 24
ACRA registrations: 227

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 Mtower, and what is it valued at?

Key takeawayMtower is owned by Mapletree Pan Asia Commercial Trust, 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$827 million as at 31 Mar 2026, by Knight Frank Pte Ltd.

excludes 17th-21st, 33rd & 39th storeys

per Mapletree Pan Asia Commercial Trust's SGX filing, 28 Apr 2026

Earlier: S$794 million (31 Mar 2025) · S$790 million (31 Mar 2024) · S$753 million (31 Mar 2023)

mTower: Mapletree Pan Asia Commercial Trust's annual report (2025)

Net lettable area: 523,582 sq ft
Committed occupancy: 93.7% (as of 31 Mar 2026)
Car-park lots: 749
Land tenure: Leasehold 99 years from 1 October 1997
Green Mark: BCA Green Mark GoldPLUS
Major tenants: Merrill Lynch Global, Maxim, TaSTe, BMW, Doosan

per Mapletree Pan Asia Commercial Trust's annual report (SGX), 30 Jun 2026, page 43

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 Mtower

Mtower is a commercial building in Queenstown (District 05). It is located along Alexandra Rd, Singapore 119963.

Under the URA Master Plan it sits on land zoned commercial with a gross plot ratio of 2.8.

The site is leasehold. It occupies roughly 27,408 sqm of land with about 52,974 sqm of gross floor area.

228 businesses are currently registered at this address with ACRA.

The nearest MRT is Labrador Park MRT, 212 m away (about a 3-minute walk). The closest bus stop (Opp Labrador Pk Stn) is 94 m away (about a 2-minute walk). Anchorpoint is 1.7 km away.

What is Mtower zoned as?

Key takeawayMtower sits on land zoned COMMERCIAL with a gross plot ratio of 2.8.

Land-use zone: COMMERCIAL
Gross plot ratio: 2.8

BCA-verified envelope: allowable GFA 76,742 sqm · built 79,650 sqm · headroom -2,908 sqm. This block appears only where BCA has published the actual built floor area — everywhere else, buildable headroom cannot be verified and is deliberately not estimated.

Run the full zoning report for this building →

What does space at Mtower rent for?

Key takeawayNo street- or building-level rent is published here. Across District 5 retail, retail space rented at a median of $11.04 psf a month in 2026Q3, with the middle half of leases between $7.45 and $15.35. That is not this building's own rent, and never a quote for a particular unit.

Retail space — District 5 retail

Region band · 2026Q3

25th pct

$7.45

$80.17 psm

Median

$11.04

$118.89 psm

75th pct

$15.35

$165.18 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 5 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 Mtower

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 Mtower

Key takeawayBased on listings we track, as of our last check on 28 Aug 2026: 24 units for rent.

Rent: between 6 Aug 2026 and 28 Aug 2026, 3 new listings appeared and 1 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 Mtower?

Key takeawayURA has approved 24 changes of use at Mtower 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.

14 Aug 2026ApprovedFloor 2
Change of use to restaurant
Proposed change of use of unit #02-XX to restaurant at arc
6 May 2025ApprovedFloor 1
Change of use to restaurant
Proposed change of use of unit #01-XX to restaurant at arc
11 Mar 2025ApprovedFloor 2
Change of use to massage establishment
Proposed change of use of unit #02-XX to massage establishment at arc
24 Oct 2024ApprovedFloor 1
Change of use to restaurant
Proposed change of use of unit #01-XX to restaurant at arc
26 Aug 2024ApprovedFloor 2
Change of use to amusement centre
Proposed change of use of shop unit #02-XX to amusement centre at arc
27 Sept 2023ApprovedFloor 2
Change of use to massage establishment
Proposed change of use of shop unit #02-XX to massage establishment at arc
3 Nov 2021ApprovedFloor 2
Change of use to shops
Proposed change of use of units #02-XX, #02-XX, #02-XX to shops and units #02-XX, #02-XX to gym/fitness centre at alexandra retail centre (arc)
20 Sept 2020ApprovedFloor 2
Change of use to restaurant
Change of use of unit #02-XX to restaurant at alexandra retail centre (arc)
6 May 2019ApprovedFloor 1
Change of use to restaurant
Proposed change of use of unit #01-XX to restaurant at alexandra retail centre (arc)
16 Apr 2019ApprovedFloor 3
Change of use to commercial school
Proposed change of use of unit #03-XX to commercial school at alexandra retail centre (arc)
20 Sept 2018ApprovedFloor 1
Change of use to restaurant & dining area
Proposed change of use of units #01-XX & #01-XX to restaurant & dining area at alexandra retail centre (arc)
11 Dec 2017ApprovedFloor 2
Change of use to massage establishment
Proposed change of use of unit #02-XX to massage establishment at alexandra retail centre (arc)

24 earlier change-of-use and A&A decisions are on record since 2000.

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 Mtower?

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

Indicative area yield — District 5 retail

Gross yield (area)

5.9%

5.3% net of property tax

Rent side (median of bands)

$118.89 psm/mo

2026Q3

Price side (strata, 5y)

$2,263 psf

32 sales

An INDICATIVE AREA yield for District 5 retail — NOT this building's yield, and not any unit's. Commercial rents are published as a district percentile grid, so both halves describe the district.

Priced on STRATA sales only: rent is quoted per unit of lettable area, and commercial land PSF runs far above strata — mixing them would shift the ratio sharply.

Net deducts the 10% non-residential property tax ONLY — not vacancy, maintenance, agent fees, financing, or the 9% GST on purchase.

Retail rents — District 5 ($ psm/month, 2026Q3)

Floor level · size band	25th pct	Median	75th pct
B1 & Below · 30 & Below	$50.00	$57.14	$376.27
Level 1 · 30 & Below	$56.83	$66.67	$120.03
Level 2 & 3 · >30 - 100	$90.07	$125.08	$160.38
Level 1 · >30 - 100	$70.27	$112.69	$126.27
Level 1 · >100 - 300	$108.14	$129.44	$203.65
Level 2 & 3 · >100 - 300	$116.31	$143.20	$169.97

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 Mtower right now?

Key takeaway24 units are currently listed at Mtower. One row per unit; several agents often market the same unit.

For rent (24)

MTowerS$18k/mo · 2,387 sqft
mTower2 agentsS$42k/mo · 5,307 sqft
mTower2 agentsS$17k/mo · 2,000 sqft
Mtower ☑️☑️☑️ Fitted/Bare ConditionS$41k/mo · 5,307 sqft

Browse every listing at this building →

What is near Mtower?

Key takeawayThe nearest MRT/LRT is Labrador Park MRT, about 212 m away.

Getting around

Labrador Park MRT212 m · ~3 min

Amenities nearby

Fullerton Healthcare (Alexandra) · 18 mNTUC Fairprice Co-operative Ltd · 36 mOpp Labrador Pk Stn · 94 mHotel · 110 mBusiness Park · 111 mLabrador Park MRT Exit A · 207 mLabrador Villa Park · 354 mPlace Of Worship · 638 mBlk 79 Telok Blangah Drive · 696 mPort / Airport · 700 m

Straight-line distances. Source: PropKaki amenities data.

Getting there and parking at Mtower

Key takeawayThe nearest station is Labrador Park (CC27), 206 m away — a moderately busy station, with about 20,000 taps in and out on an average weekday. 2 public car parks are within 500 m.

Foot traffic: busier than 14% of office buildings

nearest MRT/LRT Labrador Park (CC27) 206 m, about 20,000 taps a weekday; 1 more station within 1 km; bus stops within 400 m: 9, about 21,000 taps a weekday; Queenstown: 131,782 resident workers (Census 2020, by workplace); about 15,000 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

Labrador Park (CC27)206 m · about 20,000 weekday taps
Telok Blangah (CC28)991 m · 9,733 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 Mtower. Transfers between lines don't tap, so interchanges read low.

Bus

9 bus stops within 400 m, with about 21,000 boardings and alightings on an average weekday.

Public car parks within 500 m

Telok Blangah Drive Hv P (URA)428 m
Telok Blangah St 31 (URA)498 m

Nearest URA season parking: Pasir Panjang Road Are A, 720 m away, S$90/month.

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

Who's registered at Mtower?

Key takeaway227 live companies (and LLPs and branches; sole proprietors are not counted) list Mtower as their registered address. These are registered businesses, not who occupies the space.

Transportation and storage
69
Financial and insurance
48
Wholesale and retail trade
25
Professional, scientific and technical services
25
Information and communications
14
Health and social services
14
Manufacturing
7
Construction
6
Accommodation and food services
5
Administrative and support services
4

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.

What is Mtower's BCA building profile?

BCA building type: Office
Green Mark: GoldPlus (2018)
Energy use intensity: 231 kWh/m²·yr

Frequently asked questions about Mtower

Where is Mtower?⌄

Mtower is at Alexandra Rd, Singapore 119963, in the Queenstown planning area.

What is Mtower zoned as?⌄

Mtower sits on land zoned commercial under the URA Master Plan, with a gross plot ratio of 2.8.

What is the tenure of Mtower?⌄

Mtower is leasehold.

Have there been any recorded transactions at Mtower?⌄

No caveats have been lodged for Mtower 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 Mtower?⌄

Labrador Park MRT is the closest, 212 m away (about a 3-minute walk).

How many businesses are registered at Mtower?⌄

228 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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Read the figures right

Completion year: as Wikipedia states it, not checked against an official record. Sales records start in 1995, which says nothing about when a building was built.

Storeys: Wikipedia's floor count, not checked against an official record.

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 latest annual report prints it (sq m converted to sq ft where needed).

Car-park lots: as the owner's latest annual report prints them.

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.

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.

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 Wikipedia, PropKaki's submarket map, URA planning decisions, the owner's SGX filings, the owner's annual report (as filed on SGX), 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.