OVERVIEW PERFORMANCE SUSTAINABILITY FINANCIALS APPENDIX 71 ANNUAL REPORT 2025 Credits: SOM/Bezier Rising to 305 metres, The Skywaters is set to transform Singapore’s skyline as the nation’s tallest building and first supertall building above 300 metres. The Skywaters will take up a total land area of 118,229 square feet (“sq ft”) and a development gross floor area (“GFA”) of almost 1.6 million sq ft, spread across the prestigious Skywaters Residences, Grade 'A' offices, retail spaces, ultraluxury hotel Aman Singapore, Amanbranded residences and an Aman global private members’ club. The 63-storey Skywaters will offer stunning views of the South China Sea and the surrounding urban landscape. Its prime location at the intersection of Shenton Way, Anson Road and Maxwell Road places residents and tenants in the vibrant heart of Tanjong Pagar, known for its lively dining and social scene. Additionally, it is conveniently close to major transportation hubs, including the Tanjong Pagar MRT and the upcoming Prince Edward Road MRT stations. This makes it a premier landmark for work, living and leisure. The Skywaters is a redevelopment of the 8 Shenton way tower and is credited as one of Asia’s most sustainable developments and is a pioneer in carbon reduction. It is repurposing the entirety of the original foundation, structural elements and incorporating Singapore Green Building Council-certified materials. Meanwhile, its architecture strategically harnesses nature by optimising orientation for light and ventilation and utilising sun-shading fins to maintain a cool interior. These industry-leading efforts earned the development the prestigious Building and Construction Authority (“BCA”) Green Mark Platinum Award. True to its spirit of sustainability, The Skywaters will offer dedicated infrastructure for electric vehicles and bicycles upon completion in 2028. The Skywaters will also boast a vertical sanctuary with 10,000 square metres (“sqm”) of dedicated greenery, exceeding the building's own footprint by 20%. Between the sky terraces and verdant gardens, residents will be immersed in an environment rich with fresh air, open spaces, and an abundance of natural light. Set to redefine urban living upon its 2028 completion, The Skywaters is poised to become the city's most coveted work-live-play destination. Business Review Singapore Real Estate SINGAPORE REAL ESTATE THE SKYWATERS 天澜尊 The Theatre also remained a sought-after venue for weddings, valued for its historic character and refined ambience. Meanwhile, Eden Residences Capitol continued to attract strong interest due to its prime location and exclusivity. • CHIJMES CHIJMES is a vibrant dining and lifestyle development anchored by two gazetted national monuments. In 2025, CHIJMES maintained a high committed occupancy rate of 100%, aided by an optimised tenant profile. Its dynamic new line-up includes the popular Bomul Samgyetang and Ziggy's Karaoke Rooms and Cocktail Bar. As a testament to CHIJMES’ positioning as the destination dining location, it will also welcome a refreshed and upgraded concept by Sushi Hare, as well as Sabor, a new Spanish concept by existing tenant Italian restaurant Duomo. Returning tenant Natureland will also introduce its new concept at CHIJMES. With its unique architectural heritage, CHIJMES Hall remains a top-tier destination for celebrations and events, ranging from intimate weddings to the immersive Candlelight Concerts and Voices of Singapore performances. • Perennial Business City As a high-specification business park, Perennial Business City is designed to be a “Visionary City within a City” for high-value industries, including infocommunications technology, biomedical sciences, fast-moving consumer goods and financial institutions. Since its completion, Perennial Business City has attracted prestigious local and multinational tenants, including DBS Bank, Sony, Carrier, Marina Bay Sands, Neocythogen Therapeutics, Libiao Robotics, Kang Shi Fu and Eastern Pretech to its premium, campus-style environments. Perennial Business City has strategically curated a tenant mix to meet the needs of both businesses and the community. Its commercial strategy focuses on creating a balanced model that integrates Sports, Wellness, Education and F&B, moving away from a traditional F&B-centric approach while dovetailing with the work-life needs of business office tenants and the neighbouring community. With an attractive ecosystem of sports, wellness, lifestyle and education facilities, Perennial Business City will support the Jurong Lake District’s “Live-WorkPlay-Learn” objectives. Commercial tenants onboarded in 2025 include House+ Bubble, the largest spa and experiential wellness space in Singapore; Wyse Active Hub, Singapore’s largest air-conditioned badminton hall; Mokara Gymnastics Academy, Singapore’s biggest and most advanced gymnastics facility; The Yard Gymnastics, which provides world-class gymnastics education for all levels; and East Asia Institute of Management, a private education institution offering a comprehensive suite of undergraduate and postgraduate programmes across major disciplines. Perennial Business City leverages its spacious floor plans to attract unique concepts that require such expansive areas, further distinguishing its offerings in the market. STRATEGIC PRIORITIES In FY2026, Singapore’s economy is projected to grow modestly between 2.0% and 4.0%10, with interest rates easing. While the outlook is largely positive, Perennial Holdings remains cautiously optimistic about the macroeconomic conditions. For 2026, the Company's strategic focus is to maximise occupancy across its premium developments. Perennial Holdings will drive sustainable growth and maintain competitiveness by optimising the performance of its existing portfolio and repositioning key assets. Perennial Holdings remains committed to achieving project development delivery milestones for The Skywaters. This effort will be complemented by accelerated residential sales outreach to potential buyers of Skywaters Residences and Aman Residences. Additionally, Perennial Holdings will increase marketing and construction momentum at Golden Mile Singapore, with the development scheduled for completion in 2029. Value creation through strategic asset enhancement initiatives (“AEIs”) will be undertaken for Capitol Singapore and CHIJMES. Capitol Singapore’s key priorities will include streamlining its retail and wellness trade mix, and driving synergy across its hotel, theatre, residential and retail components. Capitol Theatre will reinforce its positioning as a premier events venue, setting the standard as the preferred venue for prestigious occasions and landmark events. CHIJMES will continue to enhance visitor experience to ensure it meets evolving lifestyle needs while remaining true to its heritage character. At Perennial Business City, efforts will be directed towards ramping up occupancy, alongside AEIs to cater to varied tenant requirements and shifting market trends, cementing its status as the premier business hub in western Singapore. Perennial Holdings is well-positioned to drive further growth through opportunistic ventures, leveraging its value-added strategy and deep market expertise. Singapore will remain a core pillar of Perennial Holdings’ growth strategy. By staying abreast of market developments and identifying compelling value-added real estate opportunities, Perennial Holdings will harness its expertise and deep market insights to drive growth. 10 The Straits Times, Jan 2026 (https://www.straitstimes.com/business/singapore-upgrades-2026-economic-growth-forecast-to-2-4-afteroutperforming-in-2025?ref=top-stories) 70 PERENNIAL HOLDINGS PRIVATE LIMITED
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