Mitsui & Co. Ltd.

12/01/2023 | Press release | Distributed by Public on 11/30/2023 18:02

Mitsui & Co., Boustead Projects and Hankyu Hanshin Properties Corp Team Up for 36 Tuas Road Redevelopment in Singapore

Mitsui & Co., Ltd. (Head Office: Chiyoda-ku, Tokyo, President and CEO: Kenichi Hori) through its subsidiary MBK Real Estate Asia, together with SGX Mainboard-listed Boustead Projects Limited (Head Office: Singapore, Chairman: John Lim Kok Min) and Hankyu Hanshin Properties Corp (Head Office: Kita-ku, Osaka, President and CEO: Ryuichi Morotomi), will jointly invest in Boustead Real Estate Fund to redevelop the industrial property at 36 Tuas Road, Singapore 638505 (the "Property") into a multi-tenanted logistics hub. The redeveloped Property is designed and earmarked to attain the Green Mark Platinum (Super Low Energy) certification and is expected to be the one of the first developments to attain this for the logistics and manufacturing sectors under the refreshed BCA Green Mark: 2021.

Location of the Property

The Property is situated close to Tuas Second Link which connects Singapore to Malaysia. It is within close proximity to Tuas Port, which will be the world's largest automated port when fully open. Well served by major roads and the Ayer Rajah Expressway, the Property has direct accessibility to the Central Business District while benefiting from being within the vibrant business and industrial districts in Singapore's Western Region, an area home to prominent corporations in the logistics, manufacturing, and pharmaceutical sectors.

Overview of the Property

Upon redevelopment, the Property is expected to be a modern five-storey multi-tenanted logistics hub, a prime logistics asset sitting on approximately 29,900 square metres of land area and spanning across approximately 59,800 square metres in gross floor area. Construction is expected to be completed by the first half of 2025.

The redeveloped Property is envisaged to meet the needs of logistics and manufacturing players in the region who require a high-specification logistics facility with high floor loading, efficient floor layout, direct ramp access and good ceiling height to cater to contemporary supply chain and manufacturing operations. Its climate-controlled capabilities are also expected to serve the needs of the premium segment of logistics and manufacturing tenants dealing with temperature-sensitive consumer or industrial goods and production lines.

Representing a further push towards green industrial buildings in Singapore, sustainability also lies at the heart of the asset lifecycle planning of this redevelopment, beginning at the design stage. The redeveloped Property will have some best-in-class energy-efficient features, including a climatic responsive facade to reduce building heat gain, a high-efficiency air distribution system and a hybrid cooling system that will minimise energy consumption. Together with its use of renewable energy and other intelligent energy management strategies, the redeveloped Property is designed and earmarked to attain the Green Mark Platinum (Super Low Energy) certification and is expected to be the first development to attain this for the logistics and manufacturing sectors under the refreshed BCA Green Mark: 2021, an internationally recognised green building certification scheme tailored for Asia's tropical climate.

Company Profile

Company name Boustead Project Limited
Head Office Location 82 Ubi Avenue 4 #07-01 Edward Boustead Centre Singapore 408832
Representative John Lim Kok Min
Number of employees 185 employees (as of March 2023)
Business Activities Project and construction management including design-and-build, real estate development, asset and leasing development, and real estate fund management.
Company name Hankyu Hanshin Properties Corp.
Head Office Location Hankyu Terminal Building, 1-1-4 Shibata, Kita-ku, Osaka
Representative Ryuichi Morotomi
Number of employees about 900 employees (as of March 2023)
Business Activities Leasing of office and commercial facilities, Real estate development, Area management, Real estate funds, Sales of condominiums, landed properties and residential land plots, Brokerage, Refurbishment, Rental management, Land use optimization and others.