During a results briefing in January 2021, Adrian Chui, CEO of ESR-REIT’s manager, shared the REIT’s organic and inorganic road maps. On the asset enhancement initiative (AEI) front, ESR-REIT has earmarked $60 million to $70 million of enhancement works to be carried out over 12–18 months. These monies will be used for the development of a multi-tenanted high-specification building at 7000 Ang Mo Kio Avenue 5, suitable for advanced manufacturing, info-comm and data centre tenants. The average yield-on-cost is estimated at 7% on stabilisation.

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