Daily Archives: 3 Aug 2009

Singapore Botanic Gardens to be expanded with new parkland

Posted on 3 Aug 2009 | Comments Off on Singapore Botanic Gardens to be expanded with new parkland

Singapore’s Botanic Gardens will be expanded with the addition of a new parkland.

National Development Minister Mah Bow Tan said a 9.8-hectare parkland at Tyersall Avenue will be added to the Gardens.

This parkland will form a seamless extension to the west of the Gardens, bringing the total area of the Botanic Gardens to almost 74 hectares.

And, there will be a new arboretum on the parkland. The Tyersall addition is slated to be completed by 2012.

Mr Mah said: “A rich diversity of flora and fauna, including some rare species, exists in the forest at this new site. An arboretum will be developed to capitalise on this rich biodiversity, integrating the forest in the extension with the existing rainforest within the Botanic Gardens to form an enlarged forest habitat. Continue reading →

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ARA buys Suntec Convention Centre in $235m deal

Posted on 3 Aug 2009 | Comments Off on ARA buys Suntec Convention Centre in $235m deal

ARA Asset Management finally has a full house in its hand of cards – the real estate fund management firm added the Suntec International Convention & Exhibition Centre to its portfolio of Suntec-brand properties on Saturday.

ARA, an affiliate of Li Ka-shing’s Cheung Kong group, sealed the $235 million deal for the convention centre with Suntec City Development Pte Ltd, of which Mr Li is an indirect shareholder. This deal will add one million square feet of space to ARA’s portfolio.

With this acquisition, ARA will own both the convention centre as well as most of the office and mall space in Suntec City, come the finalisation of the deal in October. The office and mall spaces are owned by Suntec Reit, which is managed by ARA.

The convention centre, however, will be owned separately under the ARA Harmony Fund which was created by ARA for this purpose. Continue reading →

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