Ascandas REIT in Joint Venture to Redevelop 1 Science Park Drive

News about CapitaLand Ascendas REIT

Ascandas REIT is forming a S$883 million joint venture with CapitaLand (with a 34% / 66% split respectively) to redevelop 1 Science Park Drive into a life science and innovation campus.

This follows the sale of the site, which houses the TÜV SÜD PSB Building, by the real estate investment trust (Reit) to the joint venture for S$103.2 million.

CapitaLand Ascendas REIT
Price2.670 SGD
NAV2.310 SGD
Yield (4 quarters)5.79%
Gearing36.7%