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Boustead Projects launches Boustead Industrial Fund, completes divestment of 14 properties

Atiqah Mokhtar
Atiqah Mokhtar3/4/2021 10:38 AM GMT+08  • 2 min read
Boustead Projects launches Boustead Industrial Fund, completes divestment of 14 properties
The fund has been seeded with 14 properties with a total market valuation of $511.3 mil.
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Boustead Projects has completed transactions related to the establishment of Boustead Industrial Fund (BIF), a private business trust for the purposes of holding and managing Boustead Project’s real estate assets.

Following its initial announcement of the proposed fund on Dec 31, 2020, Boustead Projects obtained unanimous shareholder approval for the setup of the fund via an extraordinary general meeting (EGM) held on Feb 25.

Pursuant to the EGM, Boustead Projects has completed an initial subscription in BIF via its wholly-owned subsidiary BP-Real Estate Investment and now holds a 25% stake in BIF through the subscription of units and notes issued.

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