FINANCE PARK IN TAMPINES REGIONAL CENTRE

Abstract

This dissertation is on a research of the Finance Park within Tampines Regional Centre. 'Finance Park' is a new term for an agglomeration of office developments whose major tenants are from the financial sector. An attempt will be made to define the finance park concept clearly. This development concept falls somewhere between a financial centre and a business park. The distinctions from each will also be drawn. Financial institutions are traditionally located in central locations. However, Tampines Finance Park is located in a decentralised location with respect to the Central Business District in Singapore. Thus, this dissertation seeks to find out which are the important location factors that influenced companies to relocate operations to a decentralised location. From the survey, it was reaffirmed that cheap rentals stands as the main determinant for companies who wish to decentralise. Otherwise, if rentals are similar to those in the CBD or not of a substantial difference, companies would not want to decentralise from CBD. It was also determined that backup power source is the most important building facility due to the heavy reliance on computers as these offices usually serve as information 'warehouse' storing huge databases. A good majority of the companies in Tampines Finance Park were found to have relocated from CBD and fringe areas. Thus it has achieved government's objective for office decentralisation.