Google to vacate “a portion” of space at FLCT’s Alexandra Technopark

FLCT’s Alexandra Technopark (ATP) property is set to have a “portion” of its space vacated by Google from Feb 20, 2024. This space constitutes 1.7% of its gross rental income for Dec 2022 and, according to FLCT, will not have an impact on its distribution for the year ending Sept 30 2023. The Manager of FLCT Tengah EC has reassured that proactive leasing initiatives and asset management strategies for ATP will be carried out and any material developments will be announced as appropriate.

Google had initially committed to taking up 344,000 sq ft at Alexandra Technopark under a five-year lease, but after EdgeProp reported the space left empty in December, it appears the US internet giant has shifted to the neighbouring Mapletree Business City II, where they are occupying 680,000 sq ft.

As part of a growing list of tech companies that have been forced to lay off employees in recent months due to a hiring binge during the pandemic years, Google will vacate its space in the ATP property in 2024. In the wake of this news, units of FLCT closed at $1.24 on Feb 22, down 0.8%.