Ascendas REIT - Annual Report 2021

The Manager’s Review of FY2021 COMPLETED DEVELOPMENT COMPLETED ASSET ENHANCEMENT INITIATIVES GRAB HEADQUARTERS, SINGAPORE Grab Headquarters is located within one- north business park in Singapore. The built-to-suit development, with a gross floor area (GFA) of 42,290 sq m, consists of nine-storey and four-storey tower blocks connected via a sky bridge. The design incorporates lush greenery on ground and mid-level sky terraces that are integrated with communal spaces and public pedestrian thoroughfares to promote social interactions and exchange of ideas. The building achieved BCA Green Mark Gold PLUS certification and boast green features such as the use of recycled building materials and energy efficient low emissive glass facade to reduce solar heat gain. Grab will lease 100% of the space for 11 years from its takeover in July 2021. Total development cost: S$184.6 million Handover date: 30 July 2021 21 CHANGI SOUTH AVENUE 2, SINGAPORE 21 Changi South Avenue 2 is a four-storey warehouse building with an ancillary showroom and a separate single-storey warehouse. It was acquired from Sim Siang Choon Hardware (S) Pte Ltd in March 2008. Enhancement work included the construction of a new substation for power upgrade from 1 MVA to 3 MVA, air conditioning installation and fire sprinkler upgrade at designated floors of the warehouse and a new service lift. Total project cost: S$4.7 million Completion date: April 2021 Ascendas Reit 42