DWS, Hines poised to buy ramp-up industrial building for S$93.8m

Singapore

GERMAN asset management company DWS Group and Houston-based privately-owned global property investment firm Hines are understood to be teaming up to buy a 9-storey ramp-up light industrial building in Bukit Batok for S$93.8 million.

Known as Bukit Batok Connection, the property is being sold by the Soilbuild Business Space Reit, which was privatised last year by a tie-up between Blackstone and Soilbuild Group Holdings co-founder Lim Chap Huat.