General Announcement::First pilot BID outside CBD to create sustainable and healthy communities in Paya Lebar Central

LOW KENG HUAT (SINGAPORE) LIMITED (Reg. No. 196900209G)

_______________________________________________________________________

Press Release - For Immediate Release

First pilot BID outside CBD to create sustainable and healthy communities in Paya Lebar Central

Under URA's pilot Business Improvement District (BID) programme, Lendlease, Paya Lebar Square Pte Ltd and SingPost Investments will invigorate the area into a sustainable and active precinct.

Singapore, 12 Aug 2021 - Lendlease1, Paya Lebar Square Pte Ltd and SingPost Investments Pte Ltd are pleased to announce the formation of Paya Lebar Central Partnership under the Urban Redevelopment Authority's (URA) pilot BID programme for the Paya Lebar Central precinct. This paves the way for greater liveability and interconnectedness with the introduction of diverse community spaces for residents and visitors in the East.

The pilot BID programme was launched by URA in 2017 to support efforts by precinct stakeholders to create vibrant districts and attractive public spaces across Singapore.

The first pilot BID to be formed outside the city centre, Paya Lebar Central Partnership will undertake an experience-led approach, focusing on three domains - sustainability, active living and cultural diversity. These will be brought to life under the following three themes:

Eco Change Agents - Paya Lebar Central Partnership will encourage environmental stewardship through eco-events and education. Its community building initiatives will support a resilient and sustainable precinct. Landscaped green spaces in the precinct will also be enhanced to offer lively public spaces for the community to host a diverse range of activities.

Heartbeat Risers - To support active and healthy lifestyles, the trio will collaborate with the Health Promotion Board and fitness partners to organise health and wellness events in the precinct.

Culture Inspirers - Drawing on the rich history and culture of the precinct which includes Katong, Joo Chiat and Geylang Serai, the partnership will add a new twist to the area's old-world charms, supporting cultural and heritage exchanges across food, performances and entertainment. Additional community events and initiatives will also be organised in collaboration with community stakeholders to create a vibrant precinct and strengthen its identity.

Details of the planned events, activities and programmes will be released at a later date. The Paya Lebar Central precinct brand will be distinguished by its impactful hardware elements such as wayfinding, décor and installations. These features will not only

• Milano Central Pte Ltd is the entity under which Lendlease is participating in this partnership

complement the promotion and events programming but also connect the properties under the three pilot BID members together as one, achieving greater synergies.

The Paya Lebar Central BID taskforce will be chaired by Gan Chong Min, Managing Director of Investment Management, Asia, Lendlease. He said: "Our strategy will be responsive to key trends affecting people and places that are relevant to the vision for Paya Lebar Central. We look forward to injecting more vibrancy into the Paya Lebar Central district and strengthening the precinct identity in being the social heart of the East."

Ng Hsueh Ling, Managing Director, Singapore, Lendlease & Chairman, Lendlease Global Commercial Trust Management, commented: "Since the S$3.7 billion PLQ was opened in phases in 2019, we have held activities in our public spaces focussing on healthy living. Our alfresco F&B offering and PLQ Parkside also contribute to placemaking, where we create value through places where communities thrive. We look forward to working collaboratively with our partners to deliver our shared vision for the precinct."

Low Chin Han, Director of Paya Lebar Square Pte Ltd, said, "Paya Lebar Square is pleased and excited to embark on this place making journey with our fellow stakeholders through a shared vision and drawing on each other's experiences to make Paya Lebar Central an attractive business and lifestyle destination. We look forward to this collaboration in rejuvenating and creating a place with a strong sense of community and distinct identity."

Richard Lai, Group Chief Financial Officer, Singapore Post Limited, said: "As an integral landmark in the Paya Lebar precinct, SingPost is excited to be part of BID and contribute towards the precinct's vibrancy, attractiveness, and success. We look forward to joining hands with our community stakeholders in building a vibrant commercial hub, promote wellness for the community and establishing an identity for the precinct - making it more attractive for Singaporeans."

Jason Chen, Director (Place Management) of the Urban Redevelopment Authority, said: "Since the launch of the pilot BID programme in 2017, five other precincts in the city centre - Marina Bay, Marina Central, Raffles Place, Singapore River and Tanjong Pagar

• have formed pilot BIDs, where stakeholders have collectively assumed an active role in transforming their precincts and activating public spaces. We are heartened that the stakeholders at Paya Lebar Central have likewise come together to implement initiatives that leverage the precinct's distinctive character and create authentic places and experiences for people. URA will continue to support its efforts to enliven the precinct and enhance the visitor experience."

ENDS

For more information please contact:

Lendlease

Esther Ee

[e-mail]

Paya Lebar Square

Emily Chua

[e-mail]

SingPost Hong Mei Yu [e-mail]

About Paya Lebar Quarter

Paya Lebar Quarter is a centrally located mixed use development and a key catalyst to URA's masterplan to transform Paya Lebar into a sub-regional business hub set in the heart of historical cultural districts.

Directly connected to the dual MRT lines at Paya Lebar, the centrally located Paya Lebar Quarter is just 10 minutes away from the CBD, offering unprecedented convenience and connectivity. The 4-hectaremixed-use development comprises close to one million square feet of next generation work spaces in three grade A towers, a standalone shopping mall with a total retail area of approximately 340,000 square feet with over 200 shops. There is a great range of indoor and experiential alfresco dining set in generous green public spaces of over 100,000 square feet. The 429-unit residential development sits on an exclusive plot with convenient covered access to shopping and lifestyle amenities, delivering the best of city life.

Paya Lebar Quarter is a project by Lendlease, an international company with a strong track record in urban regeneration projects around the world. In line with its vision of creating the best places, Lendlease brings world class place making design in city living to Paya Lebar Quarter. For more information, please visit www.payalebarquarter.com.

About Paya Lebar Square

Paya Lebar Square is one of the first few developments to be completed under the URA Masterplan to develop Paya Lebar Central into the next commercial hub. It is a bustling mixed commercial development located right next to Paya Lebar MRT station and is directly connected to the MRT East-West Line and Circle Line. It consists of a 10-storey office tower and 3 levels of retail shops. The shopping mall is home to more than 100 retail and F&B establishments, offering a unique and wide variety of retail options and catering to all palates.

Paya Lebar Square Pte Ltd is wholly owned by SGX-listed Low Keng Huat (Singapore) Limited ("LKHS"). Since its inception in 1969, its business has grown to encompass property development, investments and hotels with focus on constructing in-house development and investment projects. LKHS also owns and operates hotels and serviced apartments in Singapore and Australia.

For more information, please visit www.lkhs.com.sg

About SingPost Centre Mall

SingPost Centre Mall is part of the larger 1.4 million sq ft mixed use development that is strategically located next to Paya Lebar MRT station. It brings together an exciting array of lifestyle and F&B offerings that are set to further enliven Paya Lebar Central. Featuring an industrial chic design aesthetic, the five-storeymall from Basement 1 to Level 4 covers a gross floor area of 269,000 sq ft. It houses about 110 stores over a net lettable area of 173,000 sq ft that include leading brands in retail, dining, entertainment and children's enrichment. SingPost Centre mall is owned by Singapore Post Limited and managed by CapitaLand Retail Management Pte Ltd.