Ascandas REIT in Joint Venture to Redevelop 1 Science Park Drive

News about 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.

Ascendas REIT
Price2.970 SGD
NAV2.250 SGD
Yield (4 quarters)5.08%
Gearing37.4%