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Ascendas-Singbridge ushers in new chapter in China

Update time:2015-12-10

 

9, December 2015, Ascendas, Asia’s leading business space solutions provider, unveiled the new and refreshed Ascendas-Xinsu today in celebration of Ascendas China’s 20th anniversary. The celebrations continued with the official launch of Ascendas-Singbridge Group in the evening.

 

Held in Suzhou Industrial Park (SIP), the event was graced by Mr Wong Kan Seng, Chairman of Ascendas-Singbridge Group; Mr Wang Xiang, Member of CPC Suzhou Municipal Standing Committee and Secretary of CPC Suzhou Industrial Park Working Committee; Mr Barry Yang, Chairman of Suzhou Industrial Park Administrative Committee; and Mr Lim Chee Onn, Chairman of Singapore-Suzhou Township Development Pte Ltd and Ascendas-Singbridge Senior International Advisor. Also present were Mr Miguel Ko, Ascendas-Singbridge Group CEO, Mr Manohar Khiatani, Ascendas-Singbridge Deputy Group CEO and Ascendas President & Group CEO, and Mr Wong Wing Kien, CEO of Ascendas China.

 

In 1995, Ascendas first ventured into China via the flagship Ascendas-Xinsu project, pioneering the concept of ready-built facilities in China, and catalysed the attraction of investments in SIP. Ascendas-Xinsu occupies 460,000 square metres of land with a total gross floor area of 300,000 square metres.

 

For 20 years, Ascendas-Xinsu has maintained a high occupancy rate of over 95% and established itself as a model for efficient land use. As of today, Ascendas-Xinsu has attracted foreign investments of up to US$1 billion and created some 10,000 job opportunities. With enhanced quality of facilities and services, Ascendas-Xinsu will continue to support industry upgrading and economic development of Suzhou.

 

Singapore-based Ascendas is known for its expertise in developing integrated industrial parks. Since its entry into China through the SIP, Ascendas has been deepening its presence in the country by leveraging its experiences in key Asian markets. In line with the recent transformation and upgrading of the Chinese economy, Ascendas has tuned its focus in China towards developing integrated business parks that support the growth of Chinese technological and service industries. Today, Ascendas is present in eight China cities, with notable integrated business park projects such as Dalian Ascendas IT Park, Ascendas OneHub GKC in Guangzhou, Ascendas iHub Suzhou, Ascendas Lotus Business Park in Shanghai, Singapore-Hangzhou Science & Technology Park and Ascendas Innovation Towers in Xi’an.

 

Speaking at the Ascendas-Xinsu redevelopment unveiling ceremony, Mr Wong Wing Kien, Ascendas China CEO said: “We have constantly innovated on our products and enhanced our services to cater to our customers’ evolving business needs. More than just a real estate developer, we align our objectives with those of our host location, supporting China’s industry development and upgrading through diversified offerings in manufacturing, technology, R&D and commercial space that enable sustainable business and industry growth. Ascendas-Xinsu’s redevelopment is an example of our continuous effort to innovate on our solutions to attract quality investments that drives economic development and growth in our host locations.”

 

Launch of Ascendas-Singbridge Group in China

In June this year, Ascendas Group completed its merger with Singbridge Group, a large-scale integrated and sustainable development aggregator, to form the Ascendas-Singbridge Group. Jointly owned by Temasek and JTC Corporation through a 51:49 partnership, Ascendas-Singbridge will provide end-to-end integrated solutions for sustainable developments, and play a bigger role in driving economic and social development in urbanising cities across the region. Ascendas-Singbridge has projects across 29 cities in Asia, and serves a global clientele of more than 2,400 international companies.

 

At Ascendas China’s 20th anniversary celebrations held at Crowne Plaza Hotel in Suzhou, Ascendas-Singbridge was also officially launched to customers and partners in China. Speaking at the celebrations, Mr Wong Kan Seng, Chairman of Ascendas-Singbridge Group, said: “The merger of Ascendas and Singbridge is timely as Sino-Singapore collaboration deepens. Bringing together both companies’ combined expertise, customer base, capital resources, and global connections, Ascendas-Singbridge will deliver best-in-class urban and business space solutionstailored to the needs of businesses and communities in China.

 

He added: “As urbanisation trends gain momentum in China, there are immense opportunities in sustainable urban development, where Ascendas-Singbridge can provide for the needs of a rising urban population. Together as one, the next chapter of Ascendas-Singbridge will be full of opportunities for growth and collaboration.”

 

 

The newly redeveloped Ascendas-Xinsu flagship project is located in the central part of SIP. The redevelopment comprises six blocks of multi-tenanted buildings within Ascendas-Xinsu with a total gross floor area of 120,000 square metres. It will be a premium business park space for hi-tech manufacturing and research and development activities, catering to the needs of China’s industry upgrading and economic transformation.