We constantly strengthen our portfolio through asset enhancement – transforming properties into high-yielding real estate.

At the PSA Building, we replaced the ageing retail podium with the vibrant Alexandra Retail Centre (ARC) – a three-storey mall with a variety of retail and dining options. Connected via a sheltered access to Labrador Park MRT, ARC enhances the PSA Building’s positioning as an accessible office tower in the thriving Alexandra Precinct.

Old buildings such as HarbourFront Centre and St James Power Station likewise underwent asset enhancement. The over 30-year old HarbourFront Centre was fitted with modern eco-friendly features, and was eventually rated Green Mark Platinum by Singapore’s Building and Construction Authority. For St James Power Station, we revitalised the defunct power station into Singapore’s largest entertainment hub, and conserved its 1927 heritage façade.

For our industrial properties, we converted a flatted factory floor located at Redhill 2 cluster, into e-business space. Re-named "INNO.CENTRE", the factory floor comprises 57 units ranging from 250 sq ft to 1,000 sq ft, with shared facilities including a reception and lobby, meeting rooms and a breakout area. Further enhancement works are planned for Woodlands Central cluster and Toa Payoh North 1 cluster to reposition these properties to cater to higher value industrial uses. When completed, the Woodlands Central cluster will include a new six-storey wing, multi-storey carpark and canteen and which will serve companies in the biomedical, pharmaceutical and other clean trades. The Toa Payoh North 1 cluster will meanwhile include a new high-tech industrial building and an amenity block, over and above improvement works to the façade of the existing buildings and landscaped areas thus enabling the cluster to cater to the needs of companies in the clean and light manufacturing sectors.

The commitment to enhance the value of our assets also extended overseas. In 2008, we acquired an office building in Beijing and upgraded it to Grade-A office space. Within three years, the occupancy increased to 71%, and we were able to divest the asset at a high internal rate of return of 18.8%.