A-REIT was declared an authorised unit trust scheme on 9 October 2002, qualifying as an investment permitted to be made by trustees and certain other persons with similar investment powers in Singapore.
Tenants include Bioprocessing Technology Centre, Federal Express, Honeywell, Institute of Microelectronics, Lilly Systems Biology, Teradyne and Venture Corporation, just to name a few.
The rental income from the tenants contributes to the stable distributions to be delivered by A-REIT.
Mr Goh said, "We are excited with the opportunity of introducing the first business and industrial space real estate investment trust in Singapore.
We believe that investors in the proposed A-REIT will be attracted by the stable distributions and long-term capital gains potential of a diversified portfolio of quality business and industrial properties catering to high value-added industries." Ms Chong Siak Ching, President and Chief Executive Officer of Ascendas Pte Ltd, said, "When listed, A-REIT will be the latest milestone in Ascendas' 12-year track record in pioneering high quality, total business space solutions to high value-added industries.
35% of the outstanding Units immediately after the completion of the proposed IPO and before the exercise of the over-allotment option).