23 May '11, 8am

S$110 million top bid for Fusionopolis site: Singapore-based Ascendas Real Estate Investment Trust (A-REIT) has

Singapore-based Ascendas Real Estate Investment Trust (A-REIT) has submitted the highest bid of S$110 million for a business park site at Fusionopolis. The public tender for the 6,253 sq m site at Fusionopolis Link, launched by industrial landlord JTC Corp, ended on 20 May and drew seven bids. A-REIT's bid of S$110 million (S$4,397.89 psm ppr) was 29 percent higher than the second-highest bid of S$85.24 million by Mapletree Trustee Pte Ltd. If awarded the site, A-REIT will develop it into a contemporary business facility with a gross floor area (GFA) of 25,000 sq m, featuring 40 percent office space and 60 percent business park space. The facility will also feature infocomm technology and media industries, as well as research and development activities in engineering and physical science. Located within the 200 ha One-North development housing research facilities and busin...

Full article: http://sg.news.yahoo.com/110-million-top-bid-fusionopolis...

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