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

The price for Bukit Batok Connection works out to S$248 psf on net lettable area

Kalpana Rashiwala

Kalpana Rashiwala

Published Fri, Jan 7, 2022 · 05:50 AM
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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.

Following its delisting from the Singapore Exchange in April 2021, Soilbuild Business Space Reit became a private trust.

The trust and an entity believed…

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KEYWORDS IN THIS ARTICLE

Industrial property
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