$1.4b life sciences and innovation cluster unveiled in science park rejuvenation

CapitaLand said the cluster adds 180,600 sqm to back biomedical R&D.

CapitaLand Group (CapitaLand) announced the “Geneo” life sciences and innovation cluster in the 55-hectare Singapore Science Park (SSP).

Geneo is composed of three properties with five state-of-the-art sustainable buildings at various stages of completion, which will offer about 180,600 square metres (sq m) of gross floor area (GFA) with work-live-play elements when fully completed in 2025.

The properties are 1 Science Park Drive (comprising three buildings), 5 Science Park Drive and 7 Science Park Drive.

With about S$1.37 billion in investments, Geneo marks the latest phase in CapitaLand’s multistage precinct rejuvenation of SSP, Singapore’s first research & development (R&D) and technology park. When Geneo is fully operational, SSP’s population is seen to grow by over 75% to about 21,000 from the current 12,000.

William Tay, CEO of the manager of CapitaLand Ascendas REIT (CLAR), said they take part in the development of Geneo as a joint venture partner for 1 Science Park Drive with a 34% stake in the property.

“1 Science Park Drive accounts for about 64% of Geneo’s total GFA of 180,600 sq m. Given its prime location, seamless underground connection to the Kent Ridge MRT station and state-of-the-art design and property specifications, we expect strong demand from tenants in new economy sectors such as biomedical sciences, digital and technology,” he added.

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