Boustead Singapore forms new industrial REIT

The company intends to use the net proceeds of $57.8 million for potential acquisitions.

Boustead Singapore will form the UI Boustead REIT, which will invest in logistics, industrial, high-specification industrial and business space assets.

The REIT’s initial portfolio is expected to comprise 23 properties, with 21 leasehold properties in Singapore and two freehold properties located in Japan.

The IPO properties have a total gross floor area (GFA) of approximately 5.9 million square feet (sq ft) and a net lettable area of approximately 5.3 million sq ft. with a total property value of $1.9b.

The company intends to use the net proceeds of $57.8 million for potential acquisitions, working capital and other capital allocation decisions and reinvestment.

It will also acquire the remaining interest in four divestment properties, including 29 Media Circle, BP-BBD2, 84 Boon Keng Road, and 11 Seletar Aerospace Link, through various purchase agreements.

Boustead is expected to receive about $6.2m from the proposed divestments.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia

Top News

EnterpriseSG commits $45m to AI tools for manufacturers

This will give SMEs access to proven tools without having to develop them independently.

29 minutes ago

Frasers Centrepoint Trust delivers record 12.35-cent DPU

This is its highest payout since listing in July 2006.

Commercial Property

1 hour ago

Shophouse sales value slips 15.6% in Q3 despite higher deal volume

Propnex linked this to the absence of big-ticket caveated deals.Shophouse sales value fell 15.6% quarter on quarter (QoQ) to about $163.5m in the third quarter (Q3) of 2026, even as market activity picked up, according to PropNex.

Commercial Property

1 hour ago

Category A COE rises 1.5% in October’s second bidding