ENHANCEMENT REDEFINING URBAN CITYSCAPES Beyond rejuvenating our existing assets through ongoing asset enhancement initiatives, we have also been redeveloping older properties to unlock value, tapping on various incentive schemes. In 2024, we unveiled Union Square, a large-scale mixed-use development at Havelock Road - the former sites of Central Mall and Central Square. This is the first redevelopment project in the Singapore River Planning Area and one of the largest for the precinct under the Urban Redevelopment Authority's Strategic Development Incentive Scheme. Through the Scheme, we were able to realise a significant Gross Floor Area (GFA) uplift of 67% to 735,500 sq ft for the redevelopment of the enlarged site. Union Square features a distinctive facade interspersed with landscaped terraces and comprises a 20-storey office block, a 40-storey residential block with commercial space on Levels 1 and 2, and a 3-storey block comprising co-living and commercial space, all connected by an open promenade that forms the nexus of Union Square, along with conservation buildings. GLOBAL PORTFOLIO TOTAL ASSETS Total GFA in residential for lease, commercial and hospitality assets 23 million sq ft $34 billion1 1 Including fair value gains on investment properties and revaluation surpluses on hotels. Assets by Geography Assets by Business Segment 50% Singapore 6% 11% 16% 24% 44% 27% UK China US Others 17% Hotels Investment Properties Development Properties Others 5%
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