AA Reit's redeveloped properties in Tuas valued at S$60.7m

Singapore

AIMS AMP Capital Industrial REIT (AA Reit) has completed the redevelopment of two industrial buildings in Tuas, raising the value of the redeveloped property by more than four times to S$60.7 million from the former S$14.1 million.

The temporary occupation permit (TOP) for the S$41.7 million redevelopment was received on Tuesday. Two three-storey detached industrial buildings with an under-utilised plot ratio have been transformed into a five-storey ramp-up warehouse facility with exclusive loading and unloading bays at each level.