MANAGER’S REPORT
COMPLETED DEVELOPMENTS
ASSET ENHANCEMENT INITIATIVES – COMPLETED
DBS Asia Hub Phase 2
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 a GFA of 7,081 sq m. DBS Bank has leased the
entire block until July 2020 to coincide with the lease expiry of
the DBS Asia Hub.
Cintech I to IV
The four Cintech buildings are located within Singapore
Science Park I and were acquired from Ascendas Group
in 2012. The asset enhancement works will enhance
the properties’ marketability and improve our tenants’
experience within and around the properties. Drop-off
points, lift lobbies, lift interiors and restrooms were upgraded
and new sheltered walkways were built to connect the four
buildings to the bus stop along the Ayer Rajah Expressway,
Science Park Drive and The Rutherford. The enhancement
works were completed in February 2016.
A-REIT Jiashan Logistics Centre
The Manager completed the development of a new logistics
property in Jiashan, China, for a total development cost
(including land cost) of RMB105.2 million (or approximately
S$22.1 million in March 2016. The property is a single-storey
modern logistics facility, with a GFA of 35,729 sq m, located at
the south western border of Shanghai. The land has an area of
57,513 sq m and a lease tenure of 50 years.
40 Penjuru Lane
40 Penjuru Lane is located in the Jurong Industrial Area and
was acquired on a sale-and-leaseback basis in 2004. The
enhancement works involved the construction of a new four-
storey warehouse block with GFA of 24,062 sq m over the
existing vacant open container yard. Completed in October
2015, the new block is connected to the existing 40 feet
vehicular ramp and driveway, greatly improving the utilisation
of the premises.
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A-REIT ANNUAL REPORT
2015/2016
