Boustead Singapore Limited’s Real Estate Solutions Division, through its subsidiary BP-Innovue Pte Ltd, has successfully secured a public tender from JTC Corporation for the Tukang Innovation Drive Plot A. The tender, awarded on 30 May 2025, marks the first project for the newly formed Pan-Asian logistics and industrial real estate platform, UIB, which will oversee the development.
The site, launched by JTC in December 2024, is the first under the Industrial Government Land Sales Programme to benefit from an extended lease period. The 33-year tenure allows businesses to fully utilise a 30-year lease term. Spanning 18,687 square metres, the site will feature a multi-user industrial facility with heavy vehicle parking, and permits strata subdivision.
This development is significant as it represents the initial project for UIB, a platform created in March 2025 to provide integrated logistics and industrial real estate solutions across Asia. The site’s strategic location and extended lease are expected to attract businesses seeking long-term industrial space.
Boustead has stated that the development will not materially impact its financial performance for the year ending 31 March 2026. The company, established in 1828, continues to focus on sustainable infrastructure and technology-driven solutions, reinforcing its position as a leader in engineering and real estate development.
The Tukang Innovation site project underscores Boustead’s commitment to advancing industrial infrastructure in Singapore, potentially setting a precedent for future developments under the enhanced industrial land lease framework.
“`
