Singapore-based CapitaLand Ascendas REIT (CLAR) is selling a data center in Singapore to an undisclosed buyer for S$200.4 million (US$155.6 million), double the price it bought 21 years ago and 32 per cent above current market value, according to the firm’s press release yesterday.
The 10-storey building, known as Kim Chuan Telecommunications Complex, has been leased to telecommunication company Singtel since CLAR’s acquisition in 2005 until April 2026. The sale is expected to be completed by 2H 2026.
Proceeds of the sale, estimated to be about S$180.0 million will be used to fund investments and working capital, reduce debts and/or distributed to the REIT’s unitholders.
William Tay, Chief Executive Officer and Executive Director of CapitaLand Ascendas REIT Management Limited, said: “This divestment underscores our disciplined approach to portfolio optimisation and capital recycling. It will enhance CLAR’s financial flexibility to invest in accretive opportunities and strengthen the quality of the portfolio. Singapore remains a key market for CLAR as we continue to build a globally diversified portfolio. We will continue to invest strategically in Singapore and other developed markets, supported by redevelopments and asset enhancement initiatives, to drive long-term returns for Unitholders.”
As at 31 March 2026, CLAR’s assets under management stood at S$18.6 billion comprising 229 investment properties across three segments, namely Business Space & Life Sciences; Industrial & Data Centres; and Logistics. It has a strong focus on technology and logistics properties in developed markets such as Singapore, Australia, the US, and the UK/Europe. CLAR is managed by CapitaLand Ascendas REIT Management Limited, a wholly owned subsidiary of CapitaLand Investment Limited, a global real asset manager.