Ascendas REIT - Annual Report 2021

The Manager’s Review of FY2021 1 SCIENCE PARK DRIVE, SINGAPORE With a land area of 31,856 sq m, 1 Science Park Drive occupies a prime location in Singapore Science Park 1, right at the main entrance to the park and adjacent to the Kent RidgeMRT station. The redevelopment will transform the site into a life science and innovation campus with a GFA of 116,200 sq m. It will comprise three interconnected Grade A buildings – one 15-storey-tall and the other two 9-storey-tall – and an event plaza with retail, F&B and supporting amenities. It will provide 112,500 sq m of life science and innovation space and 3,700 sq m of retail and F&B ancillary space. The gross plot ratio (GPR) of 3.6 represents a threefold intensification of the current maximum allowable GPR of 1.2. Ascendas Reit has a 34% interest in this joint redevelopment with CapitaLand Development. Estimated development cost (34% interest): S$300.2 million Estimated completion date: 2Q 2025 IQUEST@IBP, SINGAPORE iQuest@IBP is a business park property located in the International Business Park and was acquired from Primefield Co. Pte Ltd in January 2007. Plot ratio will be maximised, resulting in an additional GFA of approximately 12,000 sq m (total GFA of 24,641 sq m post redevelopment). The new building, designed to achieve the highest BCA Green Mark Platinum accolade, will include facilities such as a gym, skydeck, food court and end-of-trip facilities to complement the government’s strategy for a car-lite nation. iQuest@IBP will benefit from enhanced accessibility via the future Jurong Regional Line and enjoy greater vibrancy from its proximity to the Jurong Lake District, which is envisioned to be the largest commercial and regional centre outside the Singapore central business district. Along with the AEI completed at Nordic European Centre in January 2019, this redevelopment is part of the Manager’s transformation plan to rejuvenate its portfolio of assets within International Business Park. Estimated development cost: S$84.3million Estimated completion date: 4Q 2024 Artist’s Impression Artist’s Impression Ascendas Reit 46