Proposed UI Boustead REIT
Boustead Singapore has announced the proposed listing of the UI Boustead REIT (UIB REIT) on the Singapore Exchange (SGX). The REIT will focus on investing in logistics, industrial, high-specifications industrial, and business space assets in the Asia Pacific region, with an initial emphasis on Singapore and Japan. The initial public offering (IPO) portfolio is expected to include 23 properties, comprising 21 leasehold properties in Singapore and two freehold properties in Japan, with a total gross floor area (GFA) of 5.9 million square feet and a net lettable area (NLA) of 5.3 million square feet. The total agreed property value of the IPO portfolio is estimated to be S$1.9 billion.
Boustead will hold up to 16.9% of the IPO units post-listing and is expected to recognize a gain on disposal of approximately S$52.6 million. The REIT will be sponsored by UIB Holdings Limited, in which Boustead has a
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