Metro seeks deals in industrial property, student housing, suburban malls
It has acquired 26% stake in a Boustead portfolio and set up a fund with Lee Kim Tah Holdings and Woh Hup Holdings.
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
METRO Holdings plans to "scale up" its investments in industrial property and student housing, as well as in suburban malls, as the pandemic turns up good deals or new assets for sale this year, said group chief executive Yip Hoong Mun.
The mainboard-listed retail and property group has recently made some significant moves to diversify its property portfolio, which had previously comprised investments in commercial and residential properties.
Metro acquired a 26 per cent stake in a Boustead portfolio of 14 industrial and logistics properties in Singapore for up to S$76.6 million, marking its entry into what Mr Yip described as a "highly sought-after" market.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS
Higher costs, lower returns: Why are Singaporeans still betting on real estate?
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
Loyang Valley sold for S$880 million to SingHaiyi-led consortium
