Soilbuild REIT IPO Rumoured

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Singapore-based property developer Soilbuild Group is reported to be planning a S$500 million public listing of its industrial properties in a REIT by this year, according to a report by Bloomberg.

Soilbuild currently has about 6.3 million square feet of industrial space including flatted factories and high-tech industrial properties.

Amongst the industrial properties of Soilbuild include The Eightrium, a high-tech facility located within the Changi Business Park in Singapore.

The company started as a residential developer in 1976 but expanded into commercial properties in 2005, the same year it raised some S$13.2 million in an IPO selling shares at 31 cents a piece. However the company was taken private in 2010.

The company has not come forward to confirm nor deny the purported plans for the IPO. REITsWeek will be contacting representatives of the company and report on further developments once further information is forthcoming.

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