Straits Trading unit targets S Korea, Australia logistics deals

Singapore

STRAITS Real Estate (SRE), a unit of mainboard-listed Straits Trading Co, has entered a partnership in South Korea with real estate investment firm IGIS Asset Management to invest in logistics facilities in Greater Seoul, with an initial capital commitment of KRW110 billion (about S$127 million).

Once fully deployed, it is expected that the initial commitment will have a portfolio of up to KRW400 billion, SRE announced on Thursday after the market close.