Jul 4, 2011 - CommercialGuru.com.sg
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JTC Corporation (JTC), one of Singapore’s leading industrial infrastructure specialists, has announced that it will be divesting two tranches of its properties to Soilbuild Group Holdings Ltd and Mapletree Industrial Trust for a total of S$688,628,000 as part of the second phase of its divestment activity.

These divestments will comprise a total of more than 300,000 sq m of property space.

Consisting of 10 blocks of flatted factories and amenity centres, the first tranche will be sold to Soilbuild Group at an indicative price of S$288,328,000.

Meanwhile, the second tranche, which comprises 11 blocks of flatted factories and amenity centres, will be divested to Mapletree Industrial Trust for S$400,300,000.

“The aim of JTC’s divestment exercise is to promote competitiveness and vibrancy in the industrial property market so that existing and prospective tenants may benefit from more options and choices,” said Manohar Khiatani, Chief Executive Officer of JTC.

“The market for ready built facilities in particular is sufficiently mature with active private sector developers to promote a strong competition in the industrial property market. In this 2nd phase of our divestment exercise, we are happy that we received quality proposals from major industry players.”

He added, “Soilbuild Group Holdings and Mapletree Industrial Trust were selected after a rigorous two-stage tender process. Both are established players with a good understanding of the Singapore industrial property market.”

To contact the journalist, you may send your message to editor@propertyguru.com.sg
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