Boustead Singapore Limited (F9D) announced on Jan, 19 2026 that the trustee of Boustead Industrial Fund has entered into a framework agreement with Jumbo Group of Restaurants Pte. Ltd. for a potential future sale of the leasehold interest in the property at 26 Tai Seng Street, Singapore.

Under the agreement, the parties will form a special purpose vehicle owned 70% by the fund’s trustee and 30% by Jumbo, which will be capitalised to acquire the property after the JTC assignment prohibition period ends in 2033.

Boustead Projects Limited holds 25% of the units in Boustead Industrial Fund.

The company added that, should UI Boustead REIT acquire all Boustead Industrial Fund units in connection with its proposed initial public offering, the REIT would assume the fund’s position under the framework agreement.

Boustead cautioned shareholders that the proposed REIT IPO and listing remain subject to market conditions, regulatory approvals and definitive agreements.