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CapitaLand Ascendas Reit enters deals to buy data centre, Science Park property
The Straits Times
|May 29, 2025
CapitaLand Ascendas Real Estate Investment Trust (Clar) has entered conditional agreements to acquire two prime properties to expand its portfolio in Singapore, particularly in the technology sector, the manager said on May 28.
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The two properties are a Tier III colocation data centre at 9 Tai Seng Drive and a premium business space property at 5 Science Park Drive.
With a purchase consideration of around $700.2 million, the proposed acquisitions will raise the value of Clar's Singapore portfolio by 6.6 per cent to around $11.7 billion.
The Singapore portfolio will account for 67 per cent of its total assets under management (AUM) of $17.6 billion.
Mr William Tay, executive director and chief executive of the manager, said that the properties are leased to reputable and well-established end users and tenants in the digital, e-commerce and financial services industries, to steer Clar's portfolio towards the technology sector.
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