Creative Technology downsizing space, moving out of Jurong

Homegrown Creative Technology is downsizing space and moving out of its headquarters in the International Business Park in Jurong.

- Sue-Ann Tan Business Correspondent

The company told The Straits Times in response to queries on Dec 12 that it will move to Alexandra Technopark in March 2026. The lease at its current premises has expired and the company has opted not to renew it.

The Alexandra Technopark space will offer Creative 2,878 sq m, equivalent to three office units.

While Creative used to own the Jurong building, it signed a sale and leaseback agreement in 2008, with a sale price of around $250 million then. At that time, the office building was 11 years old.

The buyer of the building was Ascendas Real Estate Investment Trust. The agreement was for Creative to lease the whole building back for five years, with an option for additional periods of three and two years. The plans were scaled back and Creative now occupies only the third and eighth floors of the building. The rest of the building is leased to other tenants.