A private trust which Capitaland Ascendas REIT (CLAR) owns 34% interest in has entered into agreements with The Work Project Management (TWP) for the design, fit out and management of flexible workspaces at Singapore Science Park 1.
The flexible workspaces are part of the “Geneo” life sciences and innovation cluster, and include units #01-21, #01-22, #02-23 and #02-24 in the building located at 1A Science Park Drive.
TWP is an indirect wholly-owned subsidiary of CapitaLand Group. The term of the project management agreement is for a period of 3.5 months, while the initial term of the management service agreement is for a period of five years.
TWP manages 350,000 square feet of space across 10 co-working spaces, and is involved in project management across Singapore, Hong Kong, Melbourne, London, Sydney, Perth and Brisbane.
Units in CLAR closed 2 cents higher or 0.727% up at $2.77 on Sept 5.
