AA Reit awards redevelopment of Tuas property to Boustead
Singapore
INDUSTRIAL landlord AIMS AMP Capital Industrial Reit (AA Reit) has tapped engineering and construction firm Boustead Projects to redevelop an industrial property at 8 and 10 Tuas Avenue 20 for an undisclosed amount up to S$27 million.
The real estate investment trust accelerated plans to redevelop the property after a "fire incident" that resulted in "partial damage", it said in a Singapore Exchange (SGX) filing on Thursday morning, adding that its insurance "fully covered the loss of income caused by the incident, and the reinstatement of the asset".
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