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Ascendas wins Fusionopolis phase 5 tender
Jul 10, 2012
by Cheryl Tay JTC Corporation (JTC) has awarded the tender for Fusionopolis (pictured) Phase 5 to Ascendas Land (Singapore) Pte Ltd, after it submitted the highest bid of S$172.78 million. Launched on 16 December last year, the site attracted a total of five bids as the tender closed on 9 March. The
project comprises a multi-tenanted facility for engineering, physical
sciences, media electronics and info-communication technology companies.
It is slated for completion in 2014 and offers a gross floor area (GFA)
of 67,490 sq m. Fusionopolis is a 30 ha research and development complex located at the One-North
business park. Its construction commenced in 2003, with Phase 1 and 2B
completed in 2008 and 2010 respectively. Phase 3 and 4 are slated for
completion next year, while Phase 2A is set to be completed in 2014. Meanwhile,
Ascendas will spin-off its hospitality division through an initial
public offering (IPO) valued at up to S$823 million, which could be
Singapore's biggest IPO so far this year. According to a
preliminary prospectus, Ascendas Hospitality Trust is aiming to offer
around 506.1 million to 529.6 million of stapled securities at 88 to 94
cents. Each inseparable stapled security consists of one unit of
Ascendas Hospitality Trust, a Singapore-based hospitality Reit and one
unit of Ascendas Hospitality Business Trust, a hospitality Reit that
also manages the assets held by itself and by A-HREIT.