Advertisement
Singapore markets open in 8 hours 55 minutes
  • Straits Times Index

    3,292.93
    -3.96 (-0.12%)
     
  • S&P 500

    5,127.79
    +63.59 (+1.26%)
     
  • Dow

    38,675.68
    +450.02 (+1.18%)
     
  • Nasdaq

    16,156.33
    +315.37 (+1.99%)
     
  • Bitcoin USD

    64,403.44
    +800.84 (+1.26%)
     
  • CMC Crypto 200

    1,339.16
    +62.19 (+4.87%)
     
  • FTSE 100

    8,213.49
    +41.34 (+0.51%)
     
  • Gold

    2,310.10
    +0.50 (+0.02%)
     
  • Crude Oil

    77.99
    -0.96 (-1.22%)
     
  • 10-Yr Bond

    4.5000
    -0.0710 (-1.55%)
     
  • Nikkei

    38,236.07
    -37.98 (-0.10%)
     
  • Hang Seng

    18,475.92
    +268.79 (+1.48%)
     
  • FTSE Bursa Malaysia

    1,589.59
    +9.29 (+0.59%)
     
  • Jakarta Composite Index

    7,134.72
    +17.30 (+0.24%)
     
  • PSE Index

    6,615.55
    -31.00 (-0.47%)
     

GIC announces majority stake in new innovation precinct in Melbourne

GIC announced its participation as a majority investor in a new innovation precinct in Melbourne, Australia. This will be a joint project with the University of Melbourne, Lendlease, GIC, and Urbanest.

Developed by Lendlease, the precinct will be majority pre-leased to the University of Melbourne for 42 years. The development is adjacent to the University’s main campus, and will be served by tram services and the proposed Melbourne Metro, scheduled for completion by 2026.

Lee Kok Sun, chief investment officer at GIC, says this is an attractive opportunity to invest in a unique educational and commercial hybrid project, and in line with the global emerging trend of innovation hubs situated around universities.

Related Articles From EdgeProp.sg
EcoWorld acquires prime site in Sydney
Capital World acquires developer with rights to joint development of Johor township for $20.6 mil
Keppel Land in JV to develop two premium condos in Bangkok’s CBD
Millennium & Copthorne opens second M Social hotel