Boustead Singapore: Jointly develops Singapore aerospace facility, secures around 24.5-year lease term

NewTimeSpace News: On May 22, 2026, Boustead Singapore announced the establishment of the joint limited liability partnership with UI Boustead REIT for the development of the custom-built aerospace facility at 1 Seletar Aerospace Drive. Its subsidiary holds a 49% stake while UI Boustead REIT owns 51%. The joint venture has received an offer letter for a roughly 24.5-year lease from JTC Corporation, covering a land area of approximately 29,986 square meters.

Besides, the joint venture has entered into a tenancy agreement with a world-leading aerospace client to construct and lease out the facility.

NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.