At a glance
- The proposed redevelopment of 29 International Business Park is budgeted at S$264.3 million, with completion targeted for the first half of 2030.[1]
Jurong project
The trust plans to increase the former Acer Building site’s plot ratio from 2.5 to 3.5 and expand gross floor area to 43,200 sq m. About 11,500 sq m of the added space would accommodate retail, dining, lifestyle and other non-business-park uses.[1]
Decommissioning is planned for the fourth quarter of 2026, with an elevated pedestrian connection to Jurong Town Hall MRT station envisaged. The plans were disclosed in the 29 October quarterly update and reported by Mingtiandi on 30 October.[1]
Singapore disposals
The trust also agreed to sell 17 Changi Business Park Central 1 for S$60 million and 9 Serangoon North Avenue 5 for S$21.3 million. Completion of both transactions is expected in the fourth quarter.[1]
The Changi property was 2.7% occupied at September’s end, while the Serangoon building was vacant. The manager plans to use divestment proceeds to repay debt.[1]
Why it matters
The redevelopment target and expected sale completions describe plans still being executed. Releasing capital from lightly occupied assets can change both the trust’s debt position and its future rental-income mix.
Sources & further reading
- CapitaLand Ascendas REIT Selling Near-Empty Singapore Properties for $64M ↗Mingtiandi · 30 Oct 2026 · Accessed 3 Nov 2026
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