Marina Bay Financial Centre (MBFC), the largest integrated mixed-used development in Singapore’s new downtown, celebrates its grand opening Wednesday, reinforcing the city-state’s position as one of the leading and financial centres of Asia.

Warren Bishop, chief executive officer of Raffles Quay Asset Management (RQAM), (and) manager of MBFC said that MBFC was the realisation of the Singapore government’s work-live-play concept for Marina Bay, offering a quality work environment, the best in waterfront living and a variety of dining and shopping options.

“MBFC has set a new regional standard for integrated mixed-used developments on par with renowned financial centres around the world,” he said at the opening ceremony.

Prime Minister Lee Hsien Loong attended the ceremony which was witnessed by senior representatives from all the shareholders of MBFC, including the joint venture consortium of developers comprising Cheung Kong (Holdings), Hong Kong Land and Keppel Land as well as Keppel REIT and DBS Group Holdings.

About 250 guests from leading businesses, financial institutions and key government agencies joined in the milestone event at the Lawn@Marina Bay.

To mark the occassion, Bishop announced that the company will donate a total of S$1 million to set up a RQAM study grant. Four universities – Nanyang Technological University, National University of Singapore, Singapore Management University and Singapore University of Technology and Design will benefit from the grant, which aims to nurture the next generation of business leaders.

MBFC, designed by world-renowned New York-based architect, Kohn Pedersen Fox Associates, comprised three office towers offering nearly three million sq ft of prime grade A office space, two residential towers comprising 649 luxury apartments and retail space of 179,000 sq ft.

It is the first major integrated mixed-used development in Marina Bay and is also a seamless extension of the city-state, central business district playing an important role in Singapore’s continued economic growth.

At the ceremony, the Prime Minister received a copy of commemorative book, “At the Forefront: Leading the New Downtown,” which documented the transformation of Singapore from its early days as a thriving port and the Marina Bay area before land reclamation to the financial hub it is today.

It recounts the history and development of the landmark of Marina Bay site, as well as how the properties, MBFC and One Raffles Quay, have contributed significantly to growth and transformation of the new downtown.

A landmark in Singapore’s new downtown, MBFC is now home to 20,000 office workers, including anchor tenants DBS and Standard Chartered Bank.