Asia Insurance Building

Infobox Skyscraper
building_name = "Formerly": Asia Insurance Building
("Future": Ascott Raffles Place)


location = Downtown Core, Singapore
type = High-rise
use = Residential
floor_count = 20
status =
elevator_count =
management= Ascott Group
owner = Ascott Group
website = The former Asia Insurance Building (zh-sp|s=前亚洲保险大厦|p=qián Yàzhōu Bǎoxiǎn dàshà) is a high-rise building formerly for commercial use, located on Finlayson Green near Raffles Place, in Singapore's Downtown Core. The Asia Insurance Building was also known as the A.I. Building, but will be renamed to Ascott Raffles Place after the Ascott Group (a division of CapitaLand) completes its redevelopment of the building into a serviced apartment residence in 2008.

History

Early history

Prior to the construction of the Asia Insurance Building, the site was occupied by the Union Insurance of Canton. The company moved to its own building on Collyer Quay in 1924. After the relocation, the site was then occupied by the South British Insurance Company before the building was demolished to make way for the current Asia Insurance Building.

Completed in 1954, the foundation stone for the Asia Insurance Building was laid by Commissioner-General Malcolm MacDonald on 19 June 1953. It was officially opened on 10 December 1955. With 20 storeys and at 87 metres tall, the Asia Insurance Building was the tallest building in Southeast Asia upon its completion in 1954. In Singapore, it was the first structure to exceed the Cathay Building's claim for the tallest building in the 1950s. However, with the development of the central business district where the building is sited, the Asia Insurance Building has since been dwarfed by the surrounding skyscrapers.

The Asia Insurance Building was named after its former namesake occupant, Asia Insurance, which is a Singaporean company incorporated on 11 July 1923.

Acquisition

In July 2006, the Ascott Group, an international serviced residence owner-operator, acquired the Asia Insurance Building for S$109.5 million. The building will be restored, and converted to serviced apartments for business travellers. The new Ascott Raffles Place will be a 146-unit serviced apartment residence that is expected to open in 2008. It will be Ascott Group's only real property under its luxury-premium "Ascott" name in Singapore, with rates at S$500 to S$600 a night.

Architecture

The former Asia Insurance Building was designed by one of Singapore's pioneer architects, Ng Keng Siang. Ng was a member of the Royal Institute of British Architects, and designed the building after the prevailing Modern Movement. He also exhibited a strong liking for eclectic architectural styles. Ng had also designed the Singapore Chinese Chamber of Commerce and Industry on Hill Street, and Ngee Ann Building which has made way for Ngee Ann City on Orchard Road.

The building has a L-shaped façade with rows of windows, and a concrete crown on its top. In 1955, to celebrate the coronation of Queen Elizabeth II of the United Kingdom, a colossal banner was put up on the building's façade, and lights were decked out on the crown.

Other distinctive architectural features include a brass mail chute where mail could be dropped at a high point and collected at a central depository, a mosaic staircase with timber railing, a black granite five foot way around the perimeter of the building, and two black granite pillars at the front. All these features, including the building façade and crown, will be conserved at a cost of S$60 million with the development of Ascott Raffles Place. Hospitality design firm Hirsch Bedner Associates is designing the interior of the suites.

References

*cite web |url= http://infopedia.nlb.gov.sg/articles/SIP_592_2005-01-17.html |title= Singapore Infopedia: Asia Insurance Building |accessdate=2007-07-29 |format= |work= National Library Board
*cite news | author = Tay Suan Chiang | title = Relive the style of a bygone era | publisher = "The Straits Times" | date = 28 July 2007
*cite news|url=http://www.the-ascott.com/investorinfo/news/newsfile/692.asp?id=692|title=Ascott to acquire Asia Insurance Building and Hotel Asia for S$217.5 million|accessdate=2006-07-04|publisher=Ascott Group
*cite news|url=http://www.the-ascott.com/investorinfo/news/newsfile/710.asp?id=710|title=The Ascott Group Boosts Singapore Presence with Two Citadines and a Luxurious 'All Suites' Ascott|accessdate=2006-09-28|publisher=Ascott Group

External links

* [http://www.tmasiainsurance.com/aic/publish/html/aic_home.cfm Official website of TM Asia Insurance Singapore]
* [http://www.the-ascott.com/ Official website of the Ascott Group]