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.
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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.
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