Boustead Projects tie-up obtains contract for Seletar Aerospace Park facility

Singapore two-dollar bills

Boustead Development Partnership (BDP), Boustead Projects co-investment tie-up with a Middle Eastern sovereign wealth fund, obtained a development contract for an aerospace facility in Singapore’s Seletar Aerospace Park, it said in an SGX filing on Friday.

The facility will be leased to a transportation-industry firm on a long-term basis, it said.

Thomas Chu, managing director of Boustead Projects, said in the statement that this was the company’s 18th aerospace project and the ninth at the Seletar Aerospace Park.

BDP is expected to award the design-and-build contract for the project to Boustead Projects E&C, which is Boustead Projects’ wholly owned design-and-build subsidiary, it said.

That would raise the group’s orderbook backlog, or unrecognized project revenue, to around S$548 million, including the contract to build Razer Group’s Southeast Asia headquarters, it said.

When completed, this project and the Razer project will raise the company’s regional leasehold portfolio of wholly and jointly owned properties to 23, it said.

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