OTHER INVESTMENTS
PARKWAY PARADE, SINGAPORE
LREIT acquired a 10.0% interest in Parkway Parade Partnership Pte Ltd, which indirectly holds 77.09% of the share value in Parkway Parade, from Lendlease Asia Investments Pty Limited in June 2023.
The mixed-use asset spans an area of approximately 520,000 sq ft, housing a diverse mix of retail and dining outlets. Top tenants include well-established brands such as FairPrice Xtra, Harvey Norman, and MUJI.
As at 31 March 2025, occupancy stood at 94.8%, reflecting strong demand from tenants and a vibrant customer base. Weighted average lease expiry by NLA and GRI was 2.5 years and 2.2 years, respectively.
Direct connection to the Marine Parade MRT station and completion of the planned asset enhancement initiatives (by phases) will channel more footfall to Parkway Parade and strengthen its position as a dominant suburban retail mall in the eastern part of Singapore.
MULTIFUNCTIONAL EVENT SPACE, SINGAPORE
LREIT was awarded the tender to redevelop the 48,200 sq ft car park at Grange Road. The site, to be redeveloped into a multifunctional event space, will maximise its full potential and create synergy with the “Discovery Walk”, which is linked to 313@somerset.
Construction has commenced and is expected to be completed in the second half of 2026.
The combined NLA with 313@somerset of approximately 330,000 sq ft enlarges and strengthens LREIT’s retail presence in the Somerset youth precinct. The space is envisioned to be an experiential innovative lifestyle destination that features creative use of communal spaces and themed events to promote social networking and wellness.