Daily Briefing: Authorities unveil national standards for driverless cars; Warehouse operator GLP sells five properties in Japan for $1.11b

And Shanghai Tunnel Engineering clinches a $615.9m contract to build a portion of the North-South Corridor expressway.

From Channel News Asia:

Singapore’s ambition to be at the front lines of successful autonomous vehicle (AV) deployment got a leg up after a set of provisional national standards to guide the industry was introduced by Enterprise Singapore (ESG), Land Transport Authority (LTA), Standards Development Organisation and the Singapore Standards Council (SSC).

The SSC’s Manufacturing Standards Committee oversaw the development of the standards, which covers four areas: Vehicle behaviour, vehicle functional safety, cybersecurity and data formats.

Given that it is provisional in nature, TR 68 will continue to be refined as AV technology matures and with feedback from the industry, the press release said.

The introduction of the national standards was lauded by industry partners.

Read more here.

From Deal Street Asia:

Warehouse operator GLP has launched five properties in Japan for sale at approximately $1.11b (US$821m) as part of its capital recycling strategy.

The properties comprise 342,000 sq m of modern logistics facilities developed by GLP, including GLP Zama, one of its signature development projects in Greater Tokyo.

“This transaction is consistent with GLP’s capital recycling strategy aimed at enhancing value for GLP and our partners. It also highlights the embedded value of GLP’s development pipeline and how we are able to leverage our fund management platform to unlock value and generate the best possible returns,” Ming Mei, co-founder and CEO of GLP, said.

Tokyo Stock Exchange-listed Japanese real estate investment trust (GLP J-REIT) has obtained a right of first look on the sale assets via a bridge scheme.

Read more here.

From Property Guru:

The Land Transport Authority (LTA) awarded Shanghai Tunnel Engineering Co. a $615.9m contract to build a dual-three lane road tunnel spanning 800 m as part of the North-South Corridor which links Singapore’s Central Business District (CBD) with northern towns.

The road will also be integrated with the upcoming Teck Ghee MRT station along the Cross Island Line, although the station’s name has not been finalised. Apart from building the MRT station box, the company is also responsible for constructing an MRT station box and commuter facilities, such as entrances, escape staircases, pedestrian overhead bridges, sheltered walkways, bus stops and cycling paths in the area.

“Shanghai Tunnel Engineering is an established contractor which had previously completed many railway infrastructure projects with tunnels in Circle Line, Downtown Line and Tuas West Extension,” LTA said.

The company is also involved in building portions of the Thomson-East Coast Line, including several tunnels, as well as three MRT stations including the Bayshore, Katong Park and Shenton Way.

Read more here.