A-REIT awarded Business Park site at Fusionopolis for S$110 million

A-REIT awarded Business Park site at Fusionopolis for S$110 million  :

• Press Release
• Announcement

Key Points

• Further to the release “A-REIT tenders for Business Park Site at Fusionopolis for S$110 million” made by Ascendas Funds Management (S) Limited (the “Manager”) in its capacity as the Manager of Ascendas Real Estate Investment Trust (“A-REIT”) on 20 May 2011, the Manager is pleased to announce that Jurong Town Corporation (“JTC”) has awarded A-REIT the said site (the “Site”) at Fusionopolis for S$110 million.
• Upon completion, expected in 3QFY2013/14, this development will strengthen A-REIT’s leading position in the Business & Science Parks segment and bring about economies of scale in operations. The high quality specification and good location of the proposed development will be attractive to target potential users.
• In addition, this development will allow A-REIT to further widen its product offerings in catering to the knowledge and value-based type industries and gives it an opportunity to further diversify its customer base.”

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