Soilbuild REIT has completed the disposal of its Australian assets, and will delist from the Singapore Exchange (SGX) on 14 April.

This indicative date was confirmed by the REIT following the sanction it received from a court order that approved a trust scheme to delist the REIT.

Soilbuild REIT was listed on the SGX on 16 August 2013 with a portfolio of industrial and business park assets across Singapore.

The REIT subsequently made investments in Australia as part of efforts to diversify, but its unit price has been regularly trading below book value amid a series of tenant defaults that date back to 2016.

Eventually, the REIT announced in December 2020 that it would delist from the SGX.

Soilbuild REIT unitholders will receive SGD0.53806 in cash for each REIT unit held as at the record date by 12 April.

Soilbuild REIT has been suspended from trading and was last done on the SGX at SGD0.535.