Two foreign banks, the Australia and New Zealand (ANZ) Banking Group and BNP Paribas Singapore, are the most recent to sign up for space at Ocean Financial Centre at Raffles Place.

This raises the pre-commitment scale of the building to more than 60%.

Analysts are of the expectation that demand and rentals for prime office space will see a rise in the short term, as firms in the area continue to inflate their businesses.

Ocean Financial Centre, which had its topping out ceremony yesterday, seems to be well placed on its route to completion by the second quarter of next year.

Keppel Land, which is responsible for the development, said that it is upbeat concerning the demand for major office space with a recuperating financial system, and expects the building to be completely leased out before completion.

Mr. Choo Chiau Beng, Chief Executive of Keppel Corp and Chairman of Keppel Land said that the amount of prime Grade A office is restricted and it may be possible that demand will surpass the supply.

The firm is pretty confident of its decision, irrespective of the financial crisis’ presence.

ANZ will obtain nine floors, but did not reveal how much it is paying for its lease, except that it is aggressive enough to realize rental reserves.