A S$883 million redevelopment of 1 Science Park Drive is complete, with three-quarters of office space already leased to companies in biomedical sciences, pharmaceuticals, and technology.
KEY POINTS
IN SIMPLE TERMS
A large office building in Singapore's Science Park has been rebuilt and improved. Most of the space is already rented out to companies working in life sciences and tech. The building also has shops, restaurants, and event spaces for the community.
WHY IT MATTERS
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Do you think this redevelopment will meaningfully strengthen Singapore's competitiveness in life sciences and biotech?
👍 👎 Vote ↓A major redevelopment project in Singapore’s Science Park has attracted strong leasing interest, signalling a boost for the life sciences and technology sectors.
In a press release by CapitaLand, the company announced the completion of a significant redevelopment project in Singapore.
The S$883 million redevelopment of 1 Science Park Drive has reached a major milestone.
The property received its Temporary Occupation Permit (TOP) on 3 March 2025.
This project is part of the Geneo life sciences and innovation cluster at Singapore Science Park (SSP).
The redeveloped property consists of three buildings: 1, 1A, and 1B Science Park Drive.
It boasts a total gross floor area of about 116,200 square metres.
CapitaLand Development (CLD) owns a 66% stake in the property, while CapitaLand Ascendas REIT (CLAR) holds the remaining 34%.
The redevelopment has tripled the gross plot ratio to 3.6.
The transformed property now includes:
1 Science Park Drive is strategically located at the main entrance of SSP and is linked to Kent Ridge MRT station via an underground walkway.
The development has achieved green credentials, including the Building and Construction Authority’s Green Mark Platinum rating.
The redevelopment has attracted strong interest from both multinational and local companies.
About 76% of the total 103,200 square metres net lettable area (NLA) has already been committed.
Another 19% of space is in advanced negotiations with potential tenants.
Secured and prospective tenants come from various industries, including:
The retail podium, with an NLA of about 4,000 square metres, will open from April 2025.
New F&B tenants include Olive & Peach, Great Nanyang Heritage Café, Good Cheer, and The Physio Movement.
Existing tenants such as BreadTalk, Din Tai Fung, luckin coffee, MINISO, PUTIEN, Swensen’s Unlimited, Subway, and Toast Box will also be part of the retail mix.
According to CapitaLand, Mr. Ronald Tay, CEO of CLD (Singapore), said, “The completion of 1 Science Park Drive marks a significant milestone in CapitaLand’s multi-stage rejuvenation of SSP.”
This statement underscores the importance of the project in CapitaLand’s broader plans for the area.
Mr. William Tay, CEO of the Manager of CLAR, was quoted by CapitaLand as saying, “The successful execution and completion of the redevelopment of 1 Science Park Drive, which has attracted reputable multinational and local companies, has further strengthened the quality of CLAR’s business space and life sciences portfolio as well as enlarged our customer base in the life sciences and technology industries.”
This highlights the positive impact of the redevelopment on CLAR’s portfolio and customer base.
The redevelopment project goes beyond just business spaces and retail outlets.
Geneo will host CapitaLand’s first coworking laboratory space, in partnership with NSG BioLabs.
An all-weather event plaza called The Canopy offers opportunities for large-scale community and networking events.
The Canopy is a 3,000 square metre event plaza with a 27-metre-tall mass engineered timber canopy structure.
SSP is set to launch a dynamic placemaking programme to foster innovation and community engagement.
From 12 April 2025, Geneo will host Dot in Space, an immersive exhibition with Science Centre Singapore.
The Flavours of Tomorrow Festival is scheduled from 25 to 27 April 2025 at Geneo.
This redevelopment project is part of a larger push to enhance Singapore’s research and innovation capabilities. You can learn more about other CapitaLand’s sustainability initiatives here.
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