SHANGHAI
HONGQIAO AIRPORT
SUZHOU
HANGZHOU
JIAXING
JIASHAN CITY
PUDONG AIRPORT
SUBJECT
SITE
SONGJIANG EXIT
JIAXING EASTERN EXIT
SHANGHAI • HANGZHOU EXPRESSWAY
上海
虹桥机场
苏州
杭州
嘉兴
嘉善
浦东机场
淞江出口处
嘉兴东出口处
沪杭高速公路
M A N A G E R ’ S R E P O R T
DEVELOPMENTS
ASSET ENHANCEMENT INITIATIVES – COMPLETED
DBS Asia Hub Phase 2 (Completed in April 2015)
An extension of the existing DBS Asia Hub, DBS Asia Hub Phase 2,
caters to DBS Bank’s increasing business space requirement
within the Changi Business Park. Completed in April 2015, DBS
Asia Hub Phase 2 is a new six-storey business park annex building
with an estimated GFA and NLA of 7,081 sqm and 6,074 sqm
respectively. DBS Bank has committed to lease the entire block
until July 2020 to coincide with the lease expiry of the DBS Asia
Hub. DBS has the option to renew the leases for the combined
buildings for another three terms of three years each.
Jiashan Logistics Facility (located in Jiashan, China)
TheManager embarked on a new logistics property development
in Jiashan, China, for an estimated total development cost
(including land cost) of RMB105.2 million (or approximately
S$23.7 million). A single-storey modern logistics facility, with
a GFA of approximately 35,244 sqm, based on a plot ratio
utilisation rate of 0.6 (permitted 1.5), will be developed on a
plot of land located at the south western border of Shanghai.
The land acquired has an area of 57,513 sqm and a lease
tenure of 50 years. The construction of the development is in
the preliminary stage and is expected to complete in 1Q 2016.
Oasis (formerly Science Hub)
Oasis, previously known as Science Hub, is a four-storey building
located within Singapore Science Park I. The enhancement
works will upgrade the building’s image, amenities space and
improve the building specifications and façade. Through this
enhancement, the Manager seeks to differentiate the Singapore
Science Park region by creating an exclusive tenant’s social club
for business and social activities and providing wider food and
beverage options and other amenities for tenants. The asset
enhancement was completed in January 2015.
The Alpha
The Alpha is four-storey building situated within Singapore
Science Park II. Completed in January 2015, the enhancement
works improved the connectivity between the bus stop and the
building, converting the air-conditioned lobby to a naturally
ventilated area, upgraded the lifts and toilets, and converted
underutilised area into new leasable area.
ASCENDAS REAL ESTATE INVESTMENT TRUST ANNUAL REPORT 2014/15
