As part of our ongoing portfolio revitalisation, we enhance and reposition our assets to drive operational efficiency and returns. In 2023, we completed the Asset Enhancement Initiative (AEI) for Jungceylon Shopping Center in Phuket, Thailand. The destination mall at the heart of Patong has since transformed into a one-stop shopping paradise with new and immersive retail concepts. We also embarked on the phased AEI to refresh City Square Mall, our largest retail property in Singapore. Beyond infrastructural upgrades, we continue to unlock value from our portfolio and realise gross floor area (GFA) uplift through various Government incentive schemes. We are currently redeveloping the former Fuji Xerox Towers into Newport Plaza and our Central Mall and Central Square properties into Union Square. When completed, these two mixed-use developments will bolster our portfolio and enhance our recurring income. Creating Greater Value NEWPORT PLAZA I SINGAPORE Artist's Impression GLOBAL PORTFOLIO TOTAL ASSETS Total GFA in residential for lease, commercial and hospitality assets 23 million sq ft $33 billion1 Singapore Others UK China 37% Assets by Geography US 6% 15% 17% 10% 52% Others Development Properties Hotels Investment Properties Assets by Business Segment 43% 28% 25% 4% 1 Including fair value gains on investment properties and revaluation surpluses on hotels. ENHANCEMENT
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