Mapletree Industrial Trust to offer more Build-to-Suit solutions

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Singapore-listed Industrial REIT Mapletree Industrial Trust (MIT)(SGX:ME8U) celebrated the grand opening of K&S Corporate Headquarters. The event was attended by S. Iswaran, Minister in the Prime Minister’s Office, Second Minister for Home Affairs and Second Minister for Trade and Industry.

Located at 23A Serangoon North Avenue 5 within the Serangoon North Industrial Estate

Completed in October 2013, K&S Corporate Headquarters was developed by MIT as a build-to-suit (BTS) project to meet the existing and expansion needs of K&S. The five-storey high-specification industrial building with a net lettable area of 285,500 square feet serves as the new global headquarters for K&S in Singapore. The customised building comprises facilities for manufacturing, research and development and a corporate office. K&S occupies 69% of the net lettable area for a 10-year lease term with the option to renew for two additional 10-year terms.

The grand opening of K&S Corporate Headquarters underscores MIT’s growing focus on offering BTS solutions. Other BTS projects in MIT’s portfolio included a flagship data centre for Tata Communications International Pte. Ltd at Paya Lebar iPark completed in April 2010.

MIT’s portfolio of 83 properties in Singapore is valued at approximately S$2.9 billion as at 31 March 2013 and has a total gross floor area of approximately 19.1 million square feet. MIT has a large and diversified tenant base of more than 2,000 multi-national companies and local enterprises.

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