UI Boustead REIT Awards Asset Enhancement Contract to Boustead Projects

MT Newswires

07/09

UI Boustead REIT (SGX:UIBU) awarded a SG$2.6 million design and build contract to Boustead Projects E&C to convert its AUMOVIO Building Phase 3 to a multi-tenanted building, according to a Wednesday filing with the Singapore Exchange.

Shares of the REIT were down over 1% in Thursday trading.

Boustead Projects is a subsidiary of the REIT's controlling shareholder, Boustead Singapore (SGX:F9D).

Boustead Projects was granted the project due to its familiarity with the building, thus reducing execution risk and improving the timeline.

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