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Monthly Archives: May 2011

A-REIT submits S$110m bid for business park site at Fusionopolis

Posted on 22 May 2011 | Comments Off

Mainboard-listed Ascendas REIT (A-REIT) has submitted a S$110 million bid for a business park site at Fusionopolis.

A-REIT said this property, together with its existing properties within the one-north region and the neighbouring Science Park I and II, will enhance its market leadership position in the Business & Science Parks segment.

The trust is planning to develop the business park site into a modern suburban business facility, comprising 60 per cent business park space and 40 per cent office space.

It also hopes to attract tenants in the Infocomm Technology and media industries, as well as R&D activities in Physical Science and Engineering.

A-REIT said the total development cost of the property is not expected to exceed 3.3 per cent of A-REIT’s deposited property as at 31 March 2011.

The 6,253 square metre site, with a 60-year land lease tenure and an allowable plot ratio of 4.0 times, is located in the one-north master plan region.

The tender for the site was launched under the Government Industrial Land Sales Programme by the Jurong Town Corporation.

Source : Channel NewsAsia – 20 May 2011

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Posted in Funds

Tagged A-Reit, Fusionopolis, Real estate investment trust, REIT, Science Park I and II

OCBC Centre receives Green Mark Gold Award

Posted on 22 May 2011 | Comments Off

OCBC Centre has been awarded a Green Mark Gold Award for sustainability efforts, and it is the oldest historic site to receive the prize.

The award from the Building and Construction Authority (BCA) is for the bank’s headquarters, as well as OCBC Centre South which was built in 1985.

The S$100 million OCBC Centre development was officially opened on 1 October 1976, and at that time, it was the tallest building in Asia outside of Japan.

The building was marketed as a historic site by the National Heritage Board on 16 February 2001.

Since then, OCBC has worked to retrofit the building with features such as more efficient air-conditioning and water consumption management systems.

Lights in the common corridors of the building areas and car parks of the building too were furnished with energy saving alternatives, which resulted in annual energy savings of 3,236,790 kilowatt hours.

OCBC has also been encouraging its tenants to go green, and about 80 per cent of tenants participate in recycling programmes introduced for both buildings.

“Since 2006, we have been consciously looking at implementing green measures to improve energy efficiency and to reduce the environmental impact on our buildings. We are pleased to receive this award for our efforts towards shaping a sustainable built environment in the concrete jungle of Singapore. We recognise that the challenges on this front are multi-faceted and the solutions are evolving. Nevertheless, we will continue to take gradual steps in greening the buildings that we own,” said Vincent Soh, executive director of OCBC Property Services.

Source : Channel NewsAsia – 20 May 2011