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Boustead Projects secures R&D centre contract

INDUSTRIAL real estate solutions provider Boustead Projects says that its co-investment partnership, the Boustead Development Partnership, has secured a development contract for a new research and development (R&D) centre.

The centre will be developed for Continental Automotive Singapore, an R&D hub owned by global automotive supplier Continental Corporation.

It will adjoin the hub's existing Continental Building located within Kallang iPark. Two earlier phases of the building were also developed by Boustead Projects.

The deal raises the Boustead Projects Group's order book backlog (unrecognised project revenue at the end of September 2016, plus the total value of new orders secured since then) to S$149 million.

Boustead Projects shares finished Tuesday up one cent at 73.5 cents apiece.

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