08 Jun '11, 5pm

(CNA|sg|biz) A-REIT to develop business park site at Fusionopolis

(CNA|sg|biz) A-REIT to develop business park site at Fusionopolis

SINGAPORE: JTC Corporation has awarded the tender for the business park site at Fusionopolis to Ascendas Real Estate Investment Trust (A-REIT) for S$110 million. Mr Tan Ser Ping, Executive Director and CEO of A-REIT, said the site will be developed into a modern suburban business space facility. The manager of A-REIT said the development is expected to be completed in the third quarter of financial year 2013/2014, and would strengthen the trust's position in the business and science parks segment. The 6,200-square metre site has a 60-year lease, and is within walking distance to the one-north MRT station, which is expected to be operational in the fourth quarter this year. With a plot ratio of 4.0, the zoned business park has set aside 40 percent of its space for offices. Fusionopolis is the key development at one-north that supports infocomm technology and media industrie...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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