Friday, December 19, 2008

Ascendas-Frasers Centrepoint JV Clinches Site In Changi Business Pk

Source : The Business Times, December 19, 2008

A joint venture between Frasers Centrepoint and Ascendas has clinched a 60-year leasehold site next to Expo MRT Station on which they will build a retail, hotel and business park project.

The 4.7-hectare site is located within Changi Business Park (CBP). The tender for the plot was launched in June this year. It was the first time developers were invited to submit proposals to design, build and operate a mixed use development in CBP.

The tender was conducted by JTC Corporation.

Groundbreaking for the project is expected by June 2009.

Ascendas president and CEO Chong Siak Ching said: 'This project will set a new benchmark for business parks in Singapore. When completed, we fully expect the development to inject a fresh vibrancy to the area and offer a unique alternative to companies seeking high quality business space outside the Central Business District.'

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