CapitaLand completes $883 mil redevelopment of 1 Science Park Drive
The retail podium is schedule to open this month, supplying dining alternatives consisting of a food court and dining establishments like BreadTalk, Din Tai Fung, Putien, Swensen’s Unlimited, Subway, and Toast Box.
According to CapitaLand, about 76% of the complete net lettable space has actually been committed, with one more 19% of area under advanced arrangements.
” The solid market reception mirrors trust in our revival method to future-proof our company location properties,” says William Tay, Chief Executive Officer of CLAR. “We will certainly remain to buy and redevelop existing assets to optimize our portfolio of well-located and high-quality company place and life sciences real properties in Singapore.”
Jointly operated by CapitaLand Development (CLD; 66%) and CapitaLand Ascendas REIT (CLAR; 34%), the redeveloped property is comprised of a 15-storey high rise, two 9-storey blocks and retail shops connected by an activity plaza and a shared basement carpark.
With the completion of the property, all five properties in the Geneo life sciences and innovation cluster at Singapore Science Park (SSP) are now operationally available.
” The conclusion of 1 Science Park Drive marks a significant turning point in CapitaLand’s multi-stage rejuvenation of SSP,” states Ronald Tay, CEO of CLD Singapore.
He includes: “Complemented by retail and lifestyle features in addition to our active placemaking initiatives, the SSP neighborhood can look forward to a holistic environment for work, live, and play.”
Secured and potential business space tenants come from industries like biomedical sciences, pharmaceutical, financial companies, chemical and technology.
The Arcady @ Boon Keng condominium
CapitaLand Group (CapitaLand) has already finished the S$ 883 million redevelopment of 1 Science Park Drive. According to a news release dated April 1, the real property consists of 3 buildings– 1, 1A and 1B Science Park Drive– and obtained its short-term occupation authorization (TOP) on March 3.
The property reaches a total gross floor area of approximately 1.25 million sq ft. This consists of a net lettable area of around 1.06 million sq ft of company space and 43,960 sq ft of retail sector.
1 Science Park Drive inhabits a prime area at the primary entrance of SSP. The property is connected to Kent Ridge MRT Station on the Circle Line via a below ground walkway.
The development has also accomplished environment-friendly qualifications containing the Building and Construction Authority’s Green Mark Platinum score and International WELL Building Institute’s WELL Core Gold precertification for healthy building layout.
