Singapore – Mapletree Industrial Fund Ltd. (“MIF”) today announced that:
(a) it has signed a Sale and Leaseback Agreement with Centillion Environment and Recycling Limited (“Centillion”), a SGX-listed electronic waste recycling company, to acquire its factory building located at 65 Tech Park Crescent for S$12.48 million; and
(b) it has completed the acquisition of a light industrial building at 19 Tai Seng Drive for S$12.5 million. The building is leased to StarHub, a leading SGX-listed info-communications company.
Both Centillion and StarHub will take long leases on the respective properties. The properties will be managed by Mapletree Industrial Fund Management Pte. Ltd. (“MIFM”), a wholly-owned subsidiary of Mapletree Investments Pte Ltd.
Mr Phua Kok Kim, CEO of MIFM said, “We are pleased to add these two high-quality industrial properties to our growing portfolio of assets in Asia. Given the properties’ choice locations within the prime Paya Lebar/Eunos industrial area and the Tuas Industrial Estate, coupled with the strong demand for industrial space on the back of the continued firm growth of the manufacturing sector, these acquisitions will enhance the value of our portfolio.”
