One Raffles Place
One Raffles Place is a commercial building in District 1 · Downtown Core, on land zoned COMMERCIAL under the URA Master Plan with a gross plot ratio of 15.0. 121 units are currently listed for sale or rent. ACRA records 1,984 live company registrations at this address.
What are the key facts about One Raffles Place?
- Asset class
- Commercial
- Land-use zone
- COMMERCIAL
- Gross plot ratio
- 15.0
- Tenure
- Not on record
- District / Area
- District 1 · Downtown Core
- Address
- 1 Raffles Place
- Land area
- 2,530 sqm
- Completed
- 1986 (per Wikipedia)
- Storeys
- 63 (per Wikipedia)
- Owner
- OUE REIT (SGX filings)
- Net lettable area
- 860,000 sq ft (the owner's SGX filings)
- Car-park lots
- 318 (the owner's annual report (as filed on SGX))
- Submarket
- Raffles Place
- Listed as
- Office, Food & Beverage, Mall Shop
- Transactions on record
- None recorded
- Live listings
- 121
- ACRA registrations
- 1,984
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 One Raffles Place, and what is it valued at?
- NLA (its 67.95% share)
- 702,983 sq ft
- WALE
- 2.1 years
- Tenants
- 211
- Car-park lots
- 318
- Land tenure
- 841-year lease from 1 November 1985; 99-year lease from 26 May 1983; approximately 75% of the net lettable area (“NLA”) of the retail podium is on a 99-year lease from 1 November 1985; the balance 25% of the NLA of the retail podium is on a 841-year lease from 1 November 1985
- Green Mark
- Green Mark Gold
- Major tenants
- Virgin Active Singapore, StoneX APAC, China Merchants Bank, China Life Insurance (Singapore), Tiger Brokers (Singapore)
- Announced 10 Jun 2015DBS Trustee Limited (in its capacity as trustee of OUE C-REIT) bought One Raffles Place for S$1,715 million (agreed value for the entire oubc interest) from OUE Limited.At the time: NLA 860,000 sq ft
Source: the owners' own filings on SGX — notices of valuation of real assets, acquisition and divestment announcements, and annual reports. Facts only, each with its date; a valuation is not a sale price, and occupancy and WALE are as of the date shown. Only REITs and SGX-listed companies file these: a building with a private owner shows no owner here.
About One Raffles Place
One Raffles Place is a commercial building in Downtown Core (District 01). It is located along Raffles Place, Singapore 048616.
Under the URA Master Plan it sits on land zoned commercial with a gross plot ratio of 15. It lies inside the Central Area.
It occupies roughly 2,530 sqm of land with about 119,654 sqm of gross floor area.
2,131 businesses are currently registered at this address with ACRA.
The nearest MRT is Raffles Place MRT, 30 m away (about a 0-minute walk). The closest bus stop (OUE Bayfront) is 198 m away (about a 3-minute walk). Republic Plaza is 130 m away (about a 2-minute walk).
What is One Raffles Place zoned as?
- Land-use zone
- COMMERCIAL
- Gross plot ratio
- 15.0
- Urban design area
- Udga
- Central Area
- Yes
What does space at One Raffles Place rent for?
Office space on Raffles Place
Street level · 2026Q3S$ per sq ft per month · median +7.4% on a year earlier
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 on Raffles Place
Street level · 2026Q3S$ per sq ft per month · median +8.7% on a year earlier
URA's percentiles of RETAIL rents (shop, F&B, entertainment, health & fitness) 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. Retail rent swings with floor and frontage, so the spread matters as much as the median. A median needs at least 2 buildings and 3 contracts (percentiles need 4); a blank means below that threshold, not zero.
Source: URA rental statistics by street (IRAS-stamped contracts).
Retail space — District 1 retail
Region band · 2026Q3S$ 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 1 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 One Raffles Place
- Prime office: Capital value S$3,200 psf · Net yield 3.7%
- Core CBD (Grade A): Rent S$12.50 psf/mth · Vacancy 3.3%
- Core CBD (Grade B): Rent S$9.15 psf/mth
- Core CBD: Rent S$9.40 psf/mth · Vacancy 4.5%
- Raffles Place: Rent S$11.54 psf/mth · Vacancy 4.5% · Planned / under construction 0.36m sq ft
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 One Raffles Place
Rent: between 6 Aug 2026 and 28 Aug 2026, 22 new listings appeared and 5 came off (sold, let or withdrawn). Days on market: not enough history yet — we began tracking on 6 Aug 2026.
Sale: between 6 Aug 2026 and 28 Aug 2026, 0 new listings 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 One Raffles Place?
- 10 Sept 2026ApprovedAdditions & alterations
Proposed additions and alterations to the existing 62 storey office tower 1 involving adjustments to toilet sanitary pipes and ducts
- 9 Jan 2026ApprovedFloor 1Change of use to restaurant
Proposed change of use of unit #01-XX to restaurant at one raffles place
- 12 Apr 2025ApprovedFloor 1Change of use to takeaway food shop
Proposed change of use of unit #01-XX to takeaway food shop and unit #01-XX to supermarket at one raffles place
- 7 Oct 2024ApprovedAdditions & alterations
Proposed additions and alterations to the existing 62 storey office tower 1 involving adjustments to toilet sanitary pipes and ducts on lots 00696v, 00716l, 00718m, 00721m ts01 at 1 raffles place (downtown core planning area)
- 27 Aug 2024ApprovedFloor 1Change of use to restaurant with live entertainment
Proposed change of use of units #01-XX, #01-XX, #01-XX and #01-XX to restaurant with live entertainment at one raffles place
- 18 Jul 2024ApprovedAdditions & alterations
Amendment to the approved additions & alterations to the existing 62-storey one raffles place (tower 1) involving new feature structure at rooftop and changes to the rooftop ora on lot 00716l, 00718m, 00721m & 00696v ts01 at 1 raffles place singapore 048616 (downtown core planning area)
- 12 Jul 2024ApprovedAdditions & alterations
Proposed additions & alterations to the existing unit at 1st and 2nd storey of one raffles place (tower 1) on lot 00716l, 00718m, 00721m & 00696v ts01 at 1 raffles place singapore 048616 (downtown core planning area)
- 18 Jun 2024ApprovedAdditions & alterations
Proposed addition & alteration works to the existing one raffles place building involving removal of existing escalator at 1st storey on lot 00718m, 00716l, 00721m and 00696v ts01 at one raffles place singapore 069118 (downtown core planning area)
- 21 Feb 2024RenewedFloor 5Continued use as amusement centre
Continued use of unit #05-XX as amusement centre at one raffles place
- 19 Feb 2024ApprovedAdditions & alterations
Proposed additions & alterations to the existing 62-storey one raffles place (tower 1) involving new feature structure and changes to the rooftop ora at rooftop (downtown core planning area)
- 18 Jul 2023ApprovedFloor 1Change of use to restaurant
Proposed change of use of units #01-XX to restaurant at one raffles place
- 8 Jun 2023ApprovedFloor 5Change of use: medical centre → office to existing 5th storey podium block of tower 1
Proposed change of use from medical centre to office to existing 5th storey podium block of tower 1 at unit #05-XX at 1 raffles place
44 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$54.50 per unit).
What do commercial rents run near One Raffles Place?
Indicative area yield — District 1 retail
An INDICATIVE AREA yield for District 1 retail — NOT this building's yield, and not any unit's. Commercial rents are published as a district percentile grid, so both halves describe the district.
Priced on STRATA sales only: rent is quoted per unit of lettable area, and commercial land PSF runs far above strata — mixing them would shift the ratio sharply.
Net deducts the 10% non-residential property tax ONLY — not vacancy, maintenance, agent fees, financing, or the 9% GST on purchase.
Retail rents — District 1 ($ psm/month, 2026Q3)
| Floor level · size band | 25th pct | Median | 75th pct |
|---|---|---|---|
| Level 2 & 3 · 30 & Below | $82.69 | $99.35 | $120.39 |
| Level 1 · 30 & Below | $172.73 | $245.52 | $332.57 |
| B1 & Below · 30 & Below | $87.33 | $172.91 | $321.72 |
| Level 2 & 3 · >30 - 100 | $77.43 | $95.09 | $183.52 |
| Level 1 · >30 - 100 | $106.77 | $168.33 | $217.05 |
| B1 & Below · >30 - 100 | $117.40 | $198.29 | $365.38 |
| Level 1 · >100 - 300 | $115.69 | $148.57 | $187.43 |
| B1 & Below · >100 - 300 | $148.73 | $233.33 | $396.56 |
Office rents — Central Area ($ psm/month, 2026Q3)
| Building class · size band | 25th pct | Median | 75th pct |
|---|---|---|---|
| Category 2 · 100 & Below | $54.65 | $69.39 | $88.80 |
| Category 1 · 100 & Below | $103.62 | $122.24 | $132.43 |
| Category 1 · >100 - 200 | $116.28 | $126.99 | $148.35 |
| Category 2 · >100 - 200 | $65.57 | $82.87 | $97.63 |
| Category 1 · >200 - 500 | $114.67 | $128.09 | $145.77 |
| Category 2 · >200 - 500 | $64.83 | $82.57 | $94.73 |
| Category 1 · >500 - 1000 | $106.56 | $137.78 | $148.23 |
| Category 2 · >500 - 1000 | $85.04 | $89.34 | $109.80 |
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 One Raffles Place right now?
For sale (1)
- Rare CBD Prime Commercial F&B / Retail Mall with Direct Link to MRT!S$420.00M · 118,000 sqft
For rent (120)
- One Raffles PlaceS$20k/mo · 1,582 sqft
- One Raffles PlaceS$19k/mo · 1,658 sqft
- One Raffles PlaceS$48k/mo · 4,144 sqft
- One Raffles PlaceS$19k/mo · 1,600 sqft
What is near One Raffles Place?
Getting around
- Raffles Place MRT30 m · ~1 min
Amenities nearby
Straight-line distances. Source: PropKaki amenities data.
Getting there and parking at One Raffles Place
nearest MRT/LRT Raffles Place (EW14/NS26) 29 m, about 133,000 taps a weekday; 12 more stations within 1 km; bus stops within 400 m: 8, about 18,000 taps a weekday; Downtown Core: 284,004 resident workers (Census 2020, by workplace); about 8,261 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
- Raffles Place (EW14 / NS26)29 m · about 133,000 weekday taps
- Telok Ayer (DT18)353 m · about 37,000 weekday taps
- Downtown (DT17)523 m · about 51,000 weekday taps
- Clarke Quay (NE5)650 m · about 31,000 weekday taps
- Chinatown (NE4 / DT19)653 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 One Raffles Place. Transfers between lines don't tap, so interchanges read low.
Bus
8 bus stops within 400 m, with about 18,000 boardings and alightings on an average weekday.
Public car parks within 500 m
- Backlane (Cecil St - M Arket St) (URA)215 m
- Backlane (Synagogue St - Church St) (URA)247 m
- Backlane (Lor Telok - Circular Rd) (URA)317 m
- Circular Rd (URA)335 mS$1.20 per half-hour at midday on a weekday · 34 car lots
- Backlane (Synagogue St ) (URA)352 m
Nearest URA season parking: Mohd Sultan-River Vall Ey Road Area, 1.5 km away, S$80/month.
Public car parks only, by straight-line distance, with the operator's published rates. One Raffles Place's own car park, if it has one, and its charges are not in the open data.
Who's registered at One Raffles Place?
- Financial and insurance600
- Professional, scientific and technical services423
- Wholesale and retail trade400
- Information and communications312
- Transportation and storage72
- Administrative and support services53
- Manufacturing30
- Education21
- Health and social services15
- Other services14
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 One Raffles Place's BCA building profile?
- BCA building type
- Office
- Green Mark
- Gold (2016)
- Energy use intensity
- 206 kWh/m²·yr
Frequently asked questions about One Raffles Place
Where is One Raffles Place?⌄
One Raffles Place is at 1 Raffles Place, Singapore 048616, in the Downtown Core planning area.
What is One Raffles Place zoned as?⌄
One Raffles Place sits on land zoned commercial under the URA Master Plan, with a gross plot ratio of 15.
Have there been any recorded transactions at One Raffles Place?⌄
No caveats have been lodged for One Raffles Place 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 One Raffles Place?⌄
Raffles Place MRT is the closest, 30 m away (about a 0-minute walk).
How many businesses are registered at One Raffles Place?⌄
2,131 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.
The facts are here — now get the verdict on One Raffles Place.
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