- Business
- CapitaLand Ascendas REIT (CLAR) is Singapore's first and largest listed business space and industrial real estate investment trust, owning and managing a diversified portfolio of 229 properties valued at S$16.8 billion across Singapore, Australia, the United States and the United Kingdom/Europe; the portfolio spans three key segments including business space and life sciences properties such as business and science parks, suburban offices, corporate headquarters buildings, research and development facilities and lab-ready life sciences spaces; industrial and data centres encompassing high-specifications industrial properties, light industrial facilities, flatted factories and data centres with premium to basic configurations for manufacturing, engineering and server hosting; and logistics properties featuring ramp-up warehouses, multi-storey facilities with cargo lifts, distribution centres and large-scale logistics hubs proximate to major transport infrastructure. These properties serve approximately 1,790 tenants from diverse industries including technology, data centres, information technology, engineering, logistics and supply chain management, biomedical sciences, financial services backroom operations, electronics, telecommunications, manufacturing and government entities, with major tenants such as Singtel, DBS Bank, Seagate Singapore, Citibank, JPMorgan Chase Bank, Stripe and Pinterest. Founded in 2002 and headquartered at 168 Robinson Road, Singapore, CLAR is managed by CapitaLand Ascendas REIT Management Limited, a wholly-owned subsidiary of CapitaLand Investment Limited. In recent developments, CLAR acquired three Singapore properties—2 Pioneer Sector 1 (ramp-up logistics), Tuas Connection (light industrial) and 9 Kallang Sector (high-specifications industrial, also known as the Qualcomm Building)—from a Warburg Pincus-Lendlease Global joint venture for S$565.8 million at a 3.9% discount to valuation in October 2025, expected to complete by Q1 2026 and accretive to distribution per unit; completed acquisitions of a Tier III co-location data centre and premium business space in August 2025; strengthened its Singapore presence with approximately S$1.3 billion in total 2025 investments; and allocated S$543.6 million for redevelopments including transformation of 5 Toh Guan Road East into a modern six-storey ramp-up logistics facility increasing gross floor area by 71% with stabilised yields of 7.5% to 8.5% by 2025-2026.