Soilbuild builds on recurrent income base with latest JTC tender win
The Group's recurrent income base is further strengthened with its latest tender award win of four clusters of business space properties from Jurong Town Corporation (JTC).
The properties, costing the Group S$288.3 million, comprise 10 blocks of flatted factories and amenity centres situated at Kolam Ayer, Kallang Basin and Tai Seng. The acquired property, which is currently more than 90% occupied, will add approximately 130,000 sqm of business space for lease.
Soilbuild successfully clinched the sites after a rigorous two-stage tender exercise by JTC to secure an active private sector developer with an extensive development portfolio that can add value to Singapore's competitive and vibrant industrial property market.