With the revision in Property Funds Guidelines in October 2005 which allows REITs to undertake development projects for up to 10% of its deposited property value, Ascendas Reit took on the development of two warehouse retail facilities projects under the new Warehouse Retail Scheme by the Singapore Economic Development Board. The scheme aims to facilitate integrated businesses that encompass regional headquarters, retail, warehousing and industrial activities to operate on industrial sites. Giant Hypermart is a four-storey warehouse building with ancillary retail and office space and is leased to the Cold Storage Singapore Group of Companies.
City or Zone :
21 Tampines North Drive 2 Singapore 528765