Metro Holdings Limited has announced the divestment of its 26% stake in the Boustead Industrial Fund (BIF), a move expected to generate approximately S$116m in net proceeds. The transaction involves Metro’s wholly-owned subsidiary, Metrobilt Construction, selling its interest in BIF’s 15 properties to UI Boustead REIT. The properties, valued at S$765.7m, include industrial, business park, and logistics sites across Singapore.
The divestment, finalised on 9 February 2026, is part of a unit purchase agreement with UI Boustead REIT. Alongside Metrobilt Construction, BP-Real Estate Investments and AP SG 21 Pte. Ltd. will also sell their stakes in BIF. The sale includes 12 properties directly owned by BIF and three properties held through BIF’s 49% equity interests in other entities.
Upon completion, Metro will receive cash from the sale of its units and the redemption of its 26% of the 7.0% Notes, in addition to its share of the distribution from the sale of the properties. The divestment allows Metro to unlock value and recycle capital into strategic opportunities, according to Yip Hoong Mun, Group CEO and Executive Director of Metro Holdings.
Metro Holdings, listed on the SGX-ST since 1973, has evolved from a textile store into a diversified property and retail group with a global presence. The divestment is not expected to significantly impact Metro’s net tangible assets or earnings per share for FY2026. Completion of the divestment is anticipated by March 2026, coinciding with the listing of UI Boustead REIT on the Singapore Exchange.
