A-Reit To Develop S$277m Worth Of New Property Projects

Source : Channel NewsAsia, 18 October 2007

Ascendas REIT has committed S$277 million to develop new projects in Singapore.

The projects are two business parks at Changi Business Park that will be completed in three phases as well as an industrial development at Pioneer Walk in Jurong.

The S$191 million Changi project comprises two build-to-suit buildings and a multi-tenanted block with an amenity podium.

These buildings will be sited on a 30,000-square-metre plot with a 30+30 years' lease. They have a combined gross floor area of 75,000 square metres.

The Pioneer Walk project is a partial build-to-suit facility. It will be built on a 36,600-square-metre site with a lease of 30 years. When completed, it will have a lettable floor area of over 80,000 square metres. - CNA/ir