Brookfield Asset Management has announced its inaugural investment in Singapore, acquiring two business parks and a high-tech industrial building for S$535.3m ($413m) from Mapletree Industrial Trust. This strategic move underscores Brookfield’s confidence in Singapore’s high-tech research and development sector.
The acquired properties, The Strategy and The Synergy, are situated in the International Business Park near the Jurong Lake District, which is poised to become Singapore’s second central business district. Additionally, the Woodlands Central complex, located in the northern economic hub, is part of the acquisition. Together, these properties cover a gross floor area of approximately 1.8 million square feet and are conveniently located near major transport links.
Andrew Burych, Brookfield’s Managing Partner and Head of East Asia Real Estate, highlighted the significance of Singapore as a strategic manufacturing hub. “As the gateway to Southeast Asia, Singapore and its high-tech business parks are benefiting from decades of government initiatives designed to attract and retain global multinational companies and support the growth of Singaporean companies,” he stated.
Brookfield has been active in Singapore since 2014, collaborating with local investors across various sectors, including real estate and infrastructure. The firm’s ongoing priorities in the region focus on decarbonisation, digitalisation, and deglobalisation, aiming to leverage its operational expertise to foster growth in its portfolio companies.
This acquisition marks a significant step for Brookfield in expanding its footprint in the Asia Pacific region, aligning with its strategy to partner with investors on innovative solutions.
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