CapitaLand Ascendas REIT : unveils S$1.4 billion "Geneo" life sciences and innovation cluster in latest phase of Singapore Science Park rejuvenation

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CapitaLand unveils S$1.4 billion "Geneo" life sciences and innovation

cluster in latest phase of Singapore Science Park rejuvenation

• Geneo adds 180,600 sq m of GFA to Singapore Science Park (SSP), of which 80,000 sq m houses purpose-built infrastructure to support biomedical R&D
• Geneo scores multiple "firsts", including introducing SSP's first lodging facility
  - the Citadines Science Park Singapore opening in 1Q 2024, SSP's first BCA Green Mark Platinum Super Low Energy building, SSP's first distributed district cooling network and CapitaLand's first coworking laboratory space in Singapore
• Geneo's construction features sustainable innovations including the tallest mass engineered timber canopy structure and the first project to adopt carbon dioxide mineralised concrete for superstructure works in Singapore
• Park community contributes over S$270,000 for five charities as part of SSP's 40th anniversary celebrations

Singapore, 26 June 2023 - CapitaLand Group (CapitaLand) today unveiled the "Geneo" life sciences and innovation cluster in the 55-hectare Singapore Science Park (SSP). The launch event was attended by Mr Gan Kim Yong, Minister for Trade and Industry, as well as representatives from SSP tenants, community and industry partners.

Geneo comprises three properties with five state-of-the-art sustainable buildings at various stages of completion, which will offer about 180,600 square metres (sq m) of gross floor area (GFA) with work-live-play elements when fully completed in 2025. The properties are 1 Science Park Drive (comprising three buildings), 5 Science Park Drive and 7 Science Park Drive.

Totalling about S$1.37 billion in investments, Geneo marks the latest phase in CapitaLand's multistage precinct rejuvenation of SSP, the country's first research & development (R&D) and technology park that is commemorating its 40th anniversary this year. When Geneo is fully operational, SSP's population is expected to increase by approximately 75% to about 21,000 from the current 12,000.

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Mr Jonathan Yap, CEO of CapitaLand Development (CLD), the master developer and park operator of SSP, said: "Over the last four decades, SSP has established itself as one of Asia's most prestigious addresses for R&D and technology, home to more than 350 multinational corporations, homegrown companies, start-ups and laboratories. Of these, about 30% or 100 companies are from the life sciences sector, with representation across the value chain, ranging from venture capital investors, incubators and business accelerators to companies undertaking discovery/R&D, preclinical/clinical research and commercialisation activities. They have been drawn to SSP's collaborative, campus-style environment with convenient access to public transport and supporting amenities, as well as proximity to academia, research institutes and teaching hospitals."

"Against this backdrop, we have created Geneo to build on and expand SSP's vibrant industry ecosystem with purpose-built infrastructure that is conducive for life sciences and innovation companies to thrive, complemented by first-ratework-live-play amenities that help companies to attract and retain talent. Catering to the needs of sustainability-minded tenants, all the buildings in the Geneo cluster have obtained notable green credentials. With Singapore continuing to be the region's R&D hub for a diverse range of technologies, we are pleased to leverage CapitaLand's real estate expertise to support the growth of these industries at SSP."

Mr William Tay, CEO of the manager of CapitaLand Ascendas REIT (CLAR), said: "We are proud to take part in the development of the Geneo life sciences and innovation cluster in SSP as a joint venture partner for 1 Science Park Drive with a 34% stake in the property. 1 Science Park Drive accounts for about 64% of Geneo's total GFA of 180,600 sq m. Given its prime location, seamless underground connection to the Kent Ridge MRT station and state-of-the-art design and property specifications, we expect strong demand from tenants in new economy sectors such as biomedical sciences, digital and technology."

Celebrating 40 years of innovation and community building at SSP

At today's event, Minister Gan was invited to put the finishing paint touches to a bench adorned with motifs commemorating Geneo's launch. This was part of the CLD-organised "Art Jam Science Park" programme, a SSP 40th anniversary placemaking initiative aimed at driving inclusive community engagement through bringing 40 art benches into SSP's communal spaces.

Featuring colourful designs created mostly by artists with disabilities, the benches have been adopted by 18 companies located in SSP and partners of the park. To promote inclusivity and community engagement, 158 volunteers from CapitaLand and the park community took part in co-painting the benches with 45 talents from the initiative's charity partners - ART:DIS, Metta Welfare Association, MINDS, Rainbow Centre and TOUCH Community Services. Together with donations from CapitaLand Hope Foundation, the philanthropic arm of CapitaLand Group, the park community contributed over S$270,000 to benefit the five charity organisations, in support of skills development initiatives for youth with special needs.

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Key highlights of the Geneo life sciences and innovation cluster

Geneo marks CapitaLand's first concerted effort to curate the offerings across multiple buildings to form a unified cluster since it embarked on rejuvenating SSP about a decade ago. Inspired by the word "ingenuity" and containing the word "gene", the name Geneo underscores the cluster's focus on supporting life sciences companies in bringing their innovation to fruition. Geneo can also be read as "Gen Neo", which expresses the cluster's ambition to foster the next generation of innovators through the reinvention of real estate offerings and experiences.

CapitaLand envisions Geneo to be the stage that brings researchers, scientists and knowledge workers together to make a positive impact. This vision is represented by the Geneo logo, which features a merging of chromosomes and a spark, and its tagline "Where Ingenuity Comes to Life".

The three properties in Geneo are, namely:

• 1 Science Park Drive comprises three Grade-A buildings linked by an event plaza, offering about 112,600 sq m of workspace as well as 3,600 sq m of retail and food & beverage amenities. It occupies a prime location at the main entrance of SSP and is seamlessly linked to the Kent Ridge MRT station by an underground connection. Targeting for completion by 2025, the project is owned by a 66:34 joint venture between CLD and CLAR.
• 5 Science Park Drive, owned by CLD, is a future-ready business park building featuring collaborative workspaces and lifestyle amenities with a total GFA of about 25,600 sq m. Completed in 2019, it currently houses the headquarters of Shopee, the leading e-commerce online shopping platform in Southeast Asia and Taiwan.
• 7 Science Park Drive, owned by CLD, is a mixed-used development targeted for completion in 2024. It houses about 28,800 sq m of workspace and 10,000 sq m of serviced residence with a hotel licence.

Specialised life sciences real estate catering to robust demand

Catering to the robust demand for quality life sciences real estate in Asia Pacific, about 80,000 sq m of Geneo's workspace are purpose-built to accommodate biomedical R&D activities, with specifications like exhaust risers to the roof to meet ventilation requirements, multiple floor traps for dry or wet laboratory configurations and high floor loading to accommodate laboratory and research equipment. To support emerging life sciences start-ups, Geneo will host CapitaLand's first coworking laboratory space in Singapore featuring flexible shared laboratory space equipped with common laboratory equipment and facilities.

Green credentials meeting the needs of sustainability-minded tenants

7 Science Park Drive has achieved the BCA Green Mark Platinum Super Low Energy certification from the Building and Construction Authority (BCA). It is the first CapitaLand greenfield project

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and first SSP property to be accorded this certification, the latest feather in the cap for SSP 1, the first existing business park to receive recertification for BCA Green Mark Platinum for Districts. SSP 1 is one of only two existing districts to have achieved this prestigious award. The other two properties in Geneo have obtained the BCA Green Mark Platinum certification.

Geneo is provisionally designed to achieve energy savings of about 13 million1 kilowatt-hours (kWh) per year, equivalent to powering the annual electricity consumption of over 3,343 four-room HDB flats. Key sustainability features include SSP's first distributed district cooling network in partnership with SP Group, as well as 1,400 rooftop photovoltaic solar panels that generate an estimated 1.1 million kWh of renewable energy each year - equivalent to powering the annual electricity consumption of 236 four-room HDB flats.

In addition, Geneo adopts thoughtful design strategies that maximise building users' comfort while minimising energy use. For instance, the closely knitted u-shaped arrangement of the various buildings and the design of their accordion façade help to block out sunlight, thus reducing the amount of heat trapped within the buildings. With a total landscape area of more than 21,000 sq m, equivalent to about 33% of its site area of about 64,000 sq m, Geneo's abundant greenery also helps to reduce the urban heat island effect while enhancing SSP's biodiversity.

Furthermore, water-efficient fittings are adopted throughout Geneo and rainwater is harvested for non-potable uses. An auto-irrigation system is also employed to optimise water usage for landscaping. With these provisions, Geneo's estimated annual potable water savings are sufficient to provide the water supply for 190 four-room HDB flats for a year.

Holistic work-live-play elements to enliven SSP

Geneo is set to further enliven SSP with the provision of about 3,600 sq m of retail and food & beverage amenities. Geneo will also introduce SSP's first lodging facility, Citadines Science Park Singapore, a serviced residence with hotel licence operated by The Ascott Limited, a lodging business unit wholly owned by CapitaLand Investment. Located at 7 Science Park Drive, Citadines Science Park Singapore is slated to welcome guests from 1Q 2024. It will offer 250 studio, studio loft and studio premier apartments as well as facilities such as a cafe, an indoor gymnasium, meeting rooms, a residents' lounge, a restaurant, a shared working space and a swimming pool.

Even as the park population and amenities continue to grow, CapitaLand is committed to preserve SSP's trademark lush urban campus ambience. Geneo will offer abundant communal spaces, including a naturally ventilated event plaza with verdant landscaping. Covered by a dramatic louvered glass canopy and timber structures, the event plaza serves as a relaxing place to hang out and doubles up as a setting for large-scale community events.

1 The energy savings exclude energy offsets from renewable energy.

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To encourage active lifestyles, Geneo provides a diverse range of fitness and recreational facilities, including a basketball court, a yoga deck, a running track that circles the perimeter of Geneo and a 25-metre lap pool in Citadines Science Park Singapore. For workouts with a twist, the "MyEquilibria" fitness corner in 5 Science Park Drive features a seven-metre-tall sculpture that doubles up as an outdoor fitness system. In support of the sustainable transport vision in the Singapore Green Plan 2030, Geneo will offer 466 bicycle lots and 14 electric vehicle charging lots, as well as a dedicated 490-metre cycling path that is linked to nearby park connectors.

Sustainable and innovative construction

In line with CapitaLand's commitment to sustainability, Geneo adopts several low carbon technologies and sustainable innovations during the construction process. To lower Geneo's embodied carbon footprint, mass engineered timber (MET) harvested from sustainably managed forests is used to construct the canopies and columns at Geneo's event plaza. Compared to traditional construction materials, MET produces relatively lower net carbon emissions, with an estimated embodied carbon savings of 88% over steel and 63% over concrete. When completed, Geneo's 3,000 sq m all-weather event plaza measuring 27 metres in height will be Singapore's tallest MET canopy structure.

In addition, certified Singapore Green Building Product (SGBP) materials such as green concrete, architectural finishes and M&E equipment are used in the construction of Geneo. These help to improve indoor air quality and reduce energy consumption, making it healthier and more cost effective for building occupants. On top of being the first CapitaLand project to adopt carbon dioxide mineralised concrete, Geneo is the first project in Singapore to use this green concrete for superstructure works including vertical elements, resulting in an estimated 28% reduction in embodied carbon. Carbon dioxide mineralised concrete is a type of low-carbon sustainable concrete that uses carbon capture and utilisation technology to chemically convert carbon dioxide into a mineral embedded in concrete, producing harder concrete.

Instead of diesel generators, a battery energy storage system is used at Geneo's construction site to provide power to construction machinery, lowering carbon emissions by about 78% while maintaining a productive worksite.

Nurturing SSP's innovation ecosystem with showcase and networking opportunities

As SSP enters its fifth decade, the park community can look forward to more showcase and networking opportunities organised by CLD with its partners including Smart Urban Co-innovation Lab, Southeast Asia's first industry-led laboratory for smart cities solutions development located in The Galen building at SSP, and Catapult, Southeast Asia's first shared executive learning centre located in Rochester Commons.

An example is "Flavours of Tomorrow: Tasting Tomorrow's Nosh", an initiative by CLD and NUS Enterprise, the entrepreneurial arm of the National University of Singapore, that supports development of Singapore's agrifood-tech industry. The initiative offers SSP tenant community a

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