Properties

Portfolio Of 15 Industrial, Business Park, High-Spec Industrial & Logistics Properties



In December 2020, the Group deepened its presence in Singapore by investing in a 26% stake in Boustead Industrial Fund (“BIF”)’s portfolio of 14 quality industrial, business park, high-spec industrial and logistics properties in Singapore, for an investment amount of up to S$76.6 million, via the subscription of 26% of the units and 7.0 per cent. notes due 2031 in BIF. The acquisition was completed in March 2021.

In October 2021, BIF acquired 351 Braddell Road, a high-spec industrial property, and Metro further subscribed for 26% of the units and 7.0 per cent. notes due 2031 in BIF, for an investment amount of S$17.6 million. The acquisition was completed in November 2021.

In January 2023, BIF acquired 26 Tai Seng Street, a high-spec F&B-focused industrial property, and Metro further subscribed for 26% of the units and 7.0 per cent. notes due 2031 in BIF, for an investment amount of S$15.8 million. The acquisition was completed in April 2023. Post completion, this brings Metro’s total portfolio under BIF to 15 properties with a total asset size of S$754.6 million (Phases 1 and 2 of Continental Building acquired in the initial portfolio have since been amalgamated).