keppelite february 2013 issue - tj giavridis marine services co. ltd.

Sustaining Growth 27Progress in PerthMs Ng Hsueh Ling, CEO ofKeppel REIT Management,said, “This acquisitionreflects our commitment tocontinually invest in qualitycommercial properties thatwill provide stable andsustainable returns to ourUnitholders.Keppel REIT is on track to complete theacquisition of a 50% interest in the officetower on the site of the Old TreasuryBuilding in Perth by March 2013Keppel REIT is on track tocomplete the acquisition ofa 50% interest in the newoffice tower on the site ofthe Old Treasury Buildingin Perth, Western Australia(WA), by March 2013,following Mirvac Group’sapproval from the WA StateGovernment to sell its interestto Keppel REIT.Keppel REIT announced on26 September 2012 thatit had entered into anagreement with Mirvacto acquire the stake forA$165 million (approximatelyS$209.7 million).“Keppel REIT currently ownsthree quality office assetsin the CBDs of Sydney andBrisbane. This property onthe historic Old TreasuryBuilding site is our first inPerth’s prime office sector.We are confident thatthis new premium-gradeoffice development willcomplement our portfolioof quality properties.”When completed in thesecond half of 2015,the 34-storey towerwill have an estimated331,370 sf of net lettablearea and 208 carpark lots.T h e b u i l d i n g i s 9 8 %pre-committed to the WAState Government undera long-term lease of 25years with options to extendfor another 25 years. Theproperty is targeting a5 Star Green Star rating(by the Green Building Councilof Australia) and is designedto achieve a 4.5 Star NABERS(National Australian BuiltEnvironment Rating System)Energy Rating. keppeliteKeppel Corporation and Keppel REIT management toured 8 Chifley Square, a KeppelREIT-Mirvac owned property in SydneyForging tiesKeppel Corporation’s CFOMr Loh Chin Hua and Directorfor Group Corporate Affairs,Ms Wang Look Fung metwith senior management ofMirvac Group (Mirvac) duringKeppel’s investor roadshowin Sydney, Australia, on30 January 2013.Mr Loh and Ms Wang startedwith an introduction tothe Keppel Group and itsstrategic direction. Mirvac’sCEO and MD, Ms SusanLloyd-Hurwitz, gave a briefbackground on Mirvac,including the company’shistory and its strategy in theshort- to medium-term.T h e d i s c u s s i o n s w e refollowed by a tour of 8 ChifleySquare, a Keppel REIT-Mirvacowned property in the heartof Sydney’s CBD. JoiningMr Loh and Ms Wang onthe tour were Keppel REITManagement’s CEO Ms NgHsueh Ling and Senior VP forInvestment Mr Chua HsienYang as well as Mirvac’sMr Adam Crowe, GroupGM for Group Strategy;Mr Karsten Simpson, GMfor Business Development,Platform; and Mr SimonHealy, Project Director forApartments & CommercialDevelopment.T h e 3 0 - s t o r e y t a l l8 Chifley Square, locatedat the junction of HunterStreet and Elizabeth Street,is currently underc o n s t r u c t i o n . W h e ncompleted in the third quarterof 2013, this premiumcommercial building willhave an estimated 205,700 sfof net lettable area. keppeliteKeppelite I February 2013