SMFL MIRAI Partners Company, Limited together with Kenedix, Inc. and fund manager ARA Asset Management Limited have jointly invested in a second property in Singapore, through an ARA-managed fund. The investment is for 50% interest in Lazada One, a commercial building situated in the vibrant Bras Basah precinct, a prominent arts, education, and cultural district which has also become a popular corporate user location. Centrally located, Lazada One is adjacent to two subway stations and enjoys outstanding accessibility, visibility and close proximity to varsities, attracting a young workforce.

For these reasons, some of its principal tenants are leading e-commerce companies, IT firms such as streaming services provider, and major operator of co-working spaces. With superior investment management track record in the property market in the Asia-Pacific region, ARA undertook a large-scale asset enhancement initiative to incorporate sustainability features and transform the building into an environmentally-friendly property where ventilation, water, and waste are managed with highly energy-efficient equipment. The façade fins were designed to reduce solar radiation on the west facing façade by up to 31%.

This helps to lower the building's overall energy consumption. Lazada One received the Green Mark* Platinum certification from Building and Construction Authority of Singapore. SMFL MIRAI Partners is expanding its investment and financing business in the Asian region in collaboration with Kenedix and its joint shareholder ARA.

Owing to the fact that Singapore has a competitive advantage in Asia and its real estate market is expected to pick up on the back of economic recovery, the three companies decided to jointly invest in Lazada One as the second property in their partner strategy with ARA being the fund manager, following the acquisition of the commercial building Capital Square in February last year. SMFL is expanding and ramping up its investment and financing business in the Asian region together with SMFL MIRAI Partners. Going forward, SMFL, SMFL MIRAI Partners, Kenedix, and ARA will capitalise on their respective networks, know-how, and strengths.

The three companies in the partnership will also work together to generate synergies, thereby expanding their investment and financing business in Asia and creating new investment opportunities. Overview of property: Name- Lazada One, Address- 51 Bras Basah, Singapore, Lettable area- 259,800sqf(24,135), Structure- 11 stories above ground, Constructed -1989 (major renovations in 2022), Tenure- Building: Ownership /Land: Leasehold (93 years remaining).