AA Reit awards redevelopment of Tuas property to Boustead
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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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