CapitaLand completes $883 mil redevelopment of 1 Science Park Drive
The retail podium is slated to open this month, supplying eating options including a food court and dining establishments like BreadTalk, Din Tai Fung, Putien, Swensen’s Unlimited, Subway, and Toast Box.
” The good market reception shows assurance in our revival strategy to future-proof our company place real estates,” says William Tay, CEO of CLAR. “We will remain to invest in and redevelop existing assets to optimise our profile of well-located and premium service space and life sciences assets in Singapore.”
Jointly operated by CapitaLand Development (CLD; 66%) and CapitaLand Ascendas REIT (CLAR; 34%), the redeveloped real estate is comprised of a 15-storey tower, 2 9-storey blocks and retail stores associated by an event plaza and a common basement carpark.
According to CapitaLand, around 76% of the total net lettable area has actually been committed, with one more 19% of space under advanced arrangements.
” The conclusion of 1 Science Park Drive denotes a considerable milestone in CapitaLand’s multi-stage renewal of SSP,” claims Ronald Tay, CEO of CLD Singapore.
The property extends a full gross floor area of approximately 1.25 million sq ft. This includes a net lettable area of around 1.06 million sq ft of business place and 43,960 sq ft of retail area.
Secured and possible business space lessees come from sectors such as biomedical sciences, pharmaceutical, finance companies, chemical and modern technology.
CapitaLand Team (CapitaLand) has already finished the S$ 883 million redevelopment of 1 Science Park Drive. According to an announcement dated April 1, the real property makes up 3 structures– 1, 1A and 1B Science Park Drive– and obtained its temporary slot permit (TOP) on March 3.
He adds: “Matched by retail and lifestyle amenities in addition to our active placemaking initiatives, the SSP neighborhood can expect a holistic atmosphere for job, live, and play.”
With the completion of the property, all five properties in the Geneo life sciences and development cluster at Singapore Science Park (SSP) are currently operationally ready.
1 Science Park Drive occupies a prime area at the major entryway of SSP. The property is connected to Kent Ridge MRT Station on the Circle Line via an underground walkway.
The development has also attained environment-friendly qualifications integrating the Building and Construction Authority’s Green Mark Platinum score and International WELL Building Institute’s WELL Core Gold precertification for healthy structure design.
