Page 44 - ar2014

ASCENDAS REAL ESTATE INVESTMENT TRUST 40
MANAGER’S REPORT
Value (S$m) Estimated Completion
DEVELOPMENT 21.8
DBS Hub Asia Phase 2 21.8 2Q 2015
ASSET ENHANCEMENTS 113.5
C&P Logistics Hub 35.7 4Q 2015
Techlink and Techview 26.2 4Q 2015
The Alpha 11.1 4Q 2014
Techquest 4.3 3Q 2014
Corporation Place 14.5 3Q 2014
Logis Tech 6.6 3Q 2014
1 Changi Business Park Crescent 8.1 2Q 2014
5 Toh Guan Road East 7.0 2Q 2014
TOTAL 135.3
Since A-REIT embarked on its frst development project in 2006, it has completed 12 development projects and achieved total
cumulative unrealised development gains of S$320.9 million (32.6% over cost of development).
Development Sector Development
Cost (S$m)
Revaluation as
at 31 Mar 2014
(S$’m)
Completion
1 Courts Megastore Warehouse Retail
Facility
46.0 65.9 Nov 2006
2 Giant Hypermart Warehouse Retail
Facility
65.4 87.3 Feb 2007
3 HansaPoint @ CBP Business Park 26.1 86.1 Feb 2008
4 15 Changi North Way Logistics 36.2 48.4 Jul 2008
5 Pioneer Hub Logistics 79.3 115.0 Aug 2008
6 1,3 and 5 Changi Business
Park Crescent
Business Park 200.9 316.7 Feb 2009,
Sep 2009,
Dec 2010
7 71 Alps Avenue Logistics 25.6 30.5 Sep 2009
8 38A Kim Chuan Road High-Specs
Industrial
(Data Centres)
170.0 184.7 Dec 2009
9 90 Alps Avenue Logistics 37.9 49.7 Jan 2012
10 FoodAxis @ Senoko* Light Industrial 57.8 78.1 Feb 2012
11 Four Acres Singapore Science Park 58.7# 57.3 Apr 2013
12 Nexus @one-north Business Park 181.3 186.4 Sep 2013
TOTAL 985.2 1,306.1
* FoodAxis @Senoko (previously known as 1 Senoko Avenue) was frst acquired on 15 May 2007. It was subsequently redeveloped to maximise the allowable
plot ratio
# Includes S$26.4 million land premium paid upfront and net development cost of S$32.3 million
DEVELOPMENT PROJECTS
ON-GOING PROJECTS