Ascendas To Build, Manage $98m Development In IBP

Source : The Business Times, 09 October 2007

The project when completed will have close to 42,000 sq m of high-tech space

BUSINESS space provider Ascendas will build and manage a new $98 million development in International Business Park (IBP) in Singapore, the company said yesterday. It was awarded the contract for the development by industrial landlord JTC Corporation.

Filling a gap: The development, to be completed by the end of 2009, will help meet the demand for high-quality business space, which is in short supply at the moment

When completed by the end of 2009, the development will have close to 42,000 square metres of high-tech space to help meet the market demand for high-quality business space, which is in short supply at the moment.

The proposed business park development will have two 12-storey blocks connected by sky bridges. 'It will offer emerging high-tech, high value-added industries and knowledge-intensive businesses a high-quality working environment with reliable infrastructure support,' Ascendas said in a statement.

To create vibrancy and 'life' in IBP, the project will inject a good mix of food court, F&B outlets, alfresco dining, childcare services, self-service banking lobby and convenience stores.

Sky gardens and regular lunchtime events and art exhibitions will be present to inject the concept of 'play' into the development and cater to the larger community within IBP.

'We believe that this landmark development will contribute to the success of IBP and its unique elements will create vibrancy and enhance the work-play environment,' said Thomas Teo, chief executive of Ascendas Land Singapore.

The development will also incorporate 'green' elements, he said.

The project will be energy efficient, incorporating extensive green features such as a feature roof for solar panels. These are expected to improve energy efficiency by 30 per cent, generating annual savings of about $250,000.

Upon completion of the project, Ascendas will manage the development, including all aspects of project management, marketing, lease management, property management, advertising and corporate services. The company also currently manages other projects within IBP.