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, A-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. The usage of not less than 60% of the gross floor area of the WRS facility must be industrial or warehousing in nature.
|Address:||21 Tampines North Drive 2|
|Asset Class:||Warehouse Retail Facilities|
|Land Lease Expiry:||Dec 2035|
|Acquisition Date:||06 Feb 2007|
|Gross Floor Area (sqm):||42,194|
|Net Lettable Area (sqm):||42,178|