Boustead Projects said on Friday that its joint venture Snakepit-BP, or SBP, was awarded the development of a new business park, located in Singapore’s one-north precinct, to be primarily used as gaming brand Razer’s new Southeast Asia headquarters.
SBP and Razer (Asia-Pacific) entered an agreement for Razer (Asia-Pacific) to eventually lease 70 percent of the headquarters’ net lettable space during hte lease period, it said.
The building will have seven floors and 19,300 square meters in gross floor area, it said, adding completion was expected in the second quarter of 2020.
Boustead Projects’ wholly owned design-and-build subsidiary Boustead Projects E&C is expected to be appointed the main contractor, it said.
In September, Boustead Projects and Snakepit Holdings (SHPL) had agreed to form the joint venture for the development of the Razer headquarters, and incorporated SBP and SBP 1, it said.
The project will be located next to Tanglin Trust School, at the junction of one-north Crescent and Stars Avenue, it said.
Thomas Chu, managing director of Boustead Projects, said this was the company’s fifth business park project in the one-north area.
“This latest development further establishes our track record both as the ideal design-and-build partner and developer of quality business park space in Singapore,” Chu said.
This project and a recently received joint venture development contract for an aerospace facility will raise Boustead Projects’ regional leasehold portfolio to 23 properties, and its group order book backlog, or unrecognized project revenue, to S$548 million, it said.