SINGAPORE (July 10): Mapletree Industrial Trust (MIT) will be redeveloping the Kolam Ayer 2 flatted factory cluster into a high-tech industrial precinct.

Expected to be completed by second half of 2022, the total project is estimated to cost $263 million and will be MIT's largest redevelopment project to date.

MIT manager Mapletree Industrial Trust Management (MITM) says the redevelopment is in line with its strategy to build a portfolio of assets for higher value uses and will help unlock value in MIT’s portfolio.

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