Eneco Energy Limited has announced the acquisition of an industrial property at 15 Gul Way, Singapore, for S$24.2m. The property, which includes a dormitory for 199 personnel, will serve as a logistics hub for Richland Logistics Services, enhancing operational flexibility and efficiency.
The acquisition is strategically located near a new Cross Island Line Phase 3 station, occupying approximately 203,267 square feet of land with a gross floor area of 284,384 square feet. This move is part of Eneco’s broader strategy to strengthen its logistics infrastructure and support future business expansion.
Ang Jun Long, Executive Director of Eneco, stated, “The proposed acquisition of 15 Gul Way represents an important milestone in strengthening our logistics infrastructure, and it complements our broader strategy of continuously improving operational efficiency, investing in strategic assets and strengthening our logistics platform under Richland Logistics.”
The acquisition is expected to provide Eneco with greater control over its logistics infrastructure, positioning the company to capitalise on future growth opportunities. Additionally, the on-site dormitory is anticipated to reduce recurring employee accommodation costs, further enhancing operational efficiency.
Eneco, a market leader in Singapore’s air cargo industry, views this acquisition as a significant step in delivering greater value to customers with mission-critical logistics needs. The company continues to invest in strategic assets and initiatives, including fleet renewal and the expansion of its electric vehicle fleet, to maintain its competitive edge in the logistics sector.
