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ESR-REIT Undertakes A Build-to-Suit Redevelopment At 21B Senoko Loop For NTS Components Singapore Pte Ltd

ESR-REIT Undertakes A Build-to-Suit Redevelopment At 21B Senoko Loop For NTS Components Singapore Pte Ltd

April 12, 2022 – ESR Funds Management (S) Limited, the manager of ESR-REIT, announced the redevelopment of a build-to-suit high-specifications facility at 21B Senoko Loop for NTS Components Singapore Pte Ltd.

The estimated cost of the Redevelopment is approximately S$38.5 million and it is expected to be completed by 1Q2024.

Mr. Adrian Chui, Chief Executive Officer and Executive Director of the Manager, said, “We are pleased to work with NTS, an existing tenant, to meet its expanding business needs by redeveloping 21B Senoko Loop, a general industrial property, into a build-to-suit high-specifications facility for NTS. The Redevelopment not only strengthens our relationship with NTS but is a testament of our commitment to provide business space solutions to grow with our tenants as they expand their footprint.”

“It also demonstrates our dedication in achieving organic growth by converting old and dated general industrial properties into high-specifications assets that are relevant to today’s industrialists. The Redevelopment will increase the proportion of resilient New Economy assets in our portfolio, enabling us to continue delivering long-term sustainable value to our unitholders.”

Read more here..

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