27 Sep 2018
Acquisition of 9 Tai Seng Drive, Singapore 535227
Partners Norman Ho and Vikna Rajah and Associates Marco Low, Amelia Cheng, Dexter Yeo, Rachel Leong, Alan Tan and Goh Ziluo are acting for ADC Singapore Trust (a sub-trust of the Ascendas Data Centre Trust established by Ascendas-Singbridge Group) in its acquisition of the JTC property situated at 9 Tai Seng Drive, Singapore, for a purchase consideration of S$99.6 million, from Sabana Shari’ah Compliant Industrial Real Estate Investment Trust. Strategically located within Singapore’s core data centre hub and largest network ecosystem in Tai Seng Industrial Estate, the six-storey industrial building is used as a carrier hotel / data centre. Ascendas-Singbridge Group intends to undertake asset enhancement initiatives to develop the property into a state-of-the-art data centre and host location for customers seeking quality colocation services for their IT equipment.