Ascendas-Singbridge in JV to redevelop old CPF Building
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ASCENDAS-Singbridge Group has entered into a joint venture with Mitsui and Tokyo Tatemono to redevelop the former CPF Building. The 79 Robinson Road property will be redeveloped into a Grade-A office building with retail amenities; its total development cost is estimated at S$1 billion.
The joint venture company, Southernwood Property, comprises Ascendas-Singbridge and a consortium formed by Mitsui and Tokyo Tatemono. The former will hold a 65 per cent stake, while the consortium will have the remaining 35 per cent.
The new development will feature over 500,000 square feet of prime Grade-A office space, with panoramic views of the city and the southern bay.
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