CapitaLand Ascendas REIT to acquire two properties for $700m

The deals boost CLAR’s Singapore portfolio by 6.6% to $11.7b.

CapitaLand Ascendas REIT (CLAR) will acquire 9 Tai Seng Drive and 5 Science Park Drive in Singapore for $700.2m.

The acquisitions will increase the value of CLAR’s Singapore portfolio by 6.6% to $11.7b, making up 67% of its total assets under management of $17.6b.

The purchase of 9 Tai Seng Drive, a Tier III colocation data centre, will grow CLAR’s data centre AUM by 32.8% to $1.9b.

Of this, 54% will be in Singapore and 46% in the UK and Europe. Located in the Tai Seng Industrial Estate, the property is near two of CLAR’s existing data centres and is positioned in a network-dense area favoured by cloud providers and telecom operators.

Meanwhile, 5 Science Park Drive is located within the “Geneo” life sciences and innovation cluster at Singapore Science Park 1. The acquisition will increase CLAR’s AUM in Singapore’s business space and life sciences segment by 4.8% to S$5.7b.

The property complements CLAR’s 34% stake in the adjacent 1 Science Park Drive development, completed in March 2025 and nearly fully leased.

Both assets are fully leased to tenants in the digital, e-commerce, and financial sectors.

“The two properties are 100% leased to reputable and well-established end users and tenants in the digital, e-commerce and financial services industries reflecting our commitment to steer CLAR’s portfolio towards the technology sector," said William Tay, executive director and CEO of the REIT manager.

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