CapitaLand Group has successfully completed the S$883 million redevelopment of 1 Science Park Drive in Singapore, achieving a significant leasing milestone with 95% of its business space committed. The redevelopment, which includes three interconnected Grade A buildings, is part of the Geneo life sciences and innovation cluster at Singapore Science Park. The property, which obtained its Temporary Occupation Permit on 3 March 2025, offers a total gross floor area of approximately 116,200 square metres and features business spaces, wet-lab ready workspaces, and retail and food and beverage amenities.
The project is jointly owned by CapitaLand Development (66% stake) and CapitaLand Ascendas REIT (34% stake). Approximately 76% of the 103,200 square metres net lettable area has been secured, with an additional 19% in advanced negotiations. Tenants include companies from biomedical sciences, pharmaceutical, financial services, chemical, and technology sectors.
Ronald Tay, CEO of CapitaLand Development, highlighted the significance of the project, stating, “The completion of 1 Science Park Drive marks a significant milestone in CapitaLand’s multi-stage rejuvenation of SSP.” The development also includes CapitaLand’s first coworking laboratory space in partnership with NSG BioLabs, aimed at supporting emerging life sciences start-ups.
The redevelopment aligns with CapitaLand’s strategy to enhance its business space portfolio, as noted by William Tay, CEO of the Manager of CapitaLand Ascendas REIT. The project is set to host several community events, including the Dot in Space exhibition and the Flavours of Tomorrow Festival, further establishing the area as a hub for innovation and community engagement.
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