The engineering and technology group aims to unlock real estate value and ride the transformation of geospatial industry
[SINGAPORE] Boustead Singapore is gearing up to launch its first public real estate investment trust (Reit), joining a wave of new listings on the Singapore Exchange, as it seeks to recycle capital and fund growth across markets and asset types.
The proposed logistics and industrial Reit is likely to include stabilised assets managed by UIB – a logistics platform in which Boustead holds a 20 per cent stake – and will enable its real estate arm Boustead Projects to unlock value from existing properties.
Chairman and group chief executive Wong Fong Fui told The Business Times that the listing will also enhance UIB’s valuation and serve as a “take-out or co-investment vehicle” for future projects, accelerating growth in the group’s real estate and funds management businesses.
