CapitaLand Ascendas REIT has entered into a sharing agreement for the integrated car park at Singapore Science Park 1's Geneo development, with the arrangement expected to generate an estimated SGD32.14 million in value for the REIT.
The arrangement took effect from 6 August 2025, coinciding with the completion of CapitaLand Ascendas REIT's acquisition of 5 Science Park Drive.
The agreement covers the Cluster 1 Car Park, an integrated facility with 372 car park lots, including seven accessible spaces, 34 motorcycle lots and 17 loading and unloading bays.
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