Straits Trading unit targets S Korea, Australia logistics deals
Straits Real Estate partners IGIS Asset Management in Korea and Commerical & General in Australia
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Sharanya Pillai
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.
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