JOINT PRESS RELEASE
For Immediate Release
Groundbreaking makrs start of work on Biopolis Phase III project awarded to Crescendas Group
Singapore, 2 April 2008 The Crescendas Group celebrated the start of construction on the third phase of Biopolis @ one-north, with a groundbreaking ceremony this morning. The ceremony marks the commencement of another significant milestone in the development of Biopolis as a biomedical hub with world-class facilities.
2. The Biopolis Phase III project, a designated multi-tenanted biomedical research facility, was earlier awarded to Crescendas Group by JTC Corporation under a design-build-own-operate tender with a 30+30 years lease term. Crescendas Bionix Pte Ltd, a member of Crescendas Group, is the vehicle for the project. JURONG Consultants Pte Ltd has been appointed project consultant.
3. Biopolis Phase III, which is scheduled for completion by the last quarter of 2009, comprises two buildings which measure 41,505 sqm in Gross Floor Area. It will yield space for laboratories, research facilities, offices and retail operations. The buildings of five to seven storeys will share two interconnecting basement levels. The estimated investment for the development, excluding land premium and rent, approximates S$100 million. Biopolis Phase III is intended to extend basic research activities into other segments of translational and clinical research as well as medical technology research, to tap onto the synergies within the Biopolis cluster.
4. Speaking at the groundbreaking ceremony, Mr. Philip Su, JTC’s Assistant CEO, said: “For JTC Corp, the master developer of one-north, the groundbreaking of Biopolis Phase III @ one-north brings us a step closer to realizing our vision of developing Biopolis into a world-class centre for biomedical sciences R&D. It will provide facilities for translational and clinical research which will complete the full spectrum of biomedical sciences R&D activities conducted at Biopolis. We look forward to working with the Crescendas Group to provide leading-edge industrial estate solutions and develop Biopolis as the epicentre of biomedical research in Singapore.”
5. Mr Patrick Teo, CEO of Crescendas Bionix and Assistant CEO of the Crescendas Group, said: “We are indeed thrilled to have a role to play in shaping this prestigious development especially since we were up against stiff competition. The strength of our bid was in our understanding of the functional needs of users, our sensitivity of the general environs and ability to seamlessly amalgamate the earlier phases of Biopolis.” He added, “In working with JURONG Consultants, we have found a strong and committed partner that is synonymous with Singapore’s industrialization efforts, and we value this opportunity to develop this next exciting phase which bridges the private and public sector research works through close collaborations.”
6. Ms Mao Whey Ying, President of JURONG Consultants added: “As Consultants to this latest addition to the biomedical hub in one-north, we will leverage fully on what we have learnt from developers and research communities, following through on the ‘green’ and ‘human-centric’ themes to ensure the vibrancy that Biopolis promises. Together with Crescendas, we are confident that Biopolis Phase III will be another choice location for the biomedical industry.”
7. The ceremony was attended by close to 150 guests from the government agencies, research institutes and corporations. The event was graced by Mr. Lim Chuan Poh, Chairman of A*STAR, the Agency for Science, Technology and Research.