CWT enters into construction and lease project with AIMS AMP Capital Industrial REIT

CWT says wholly-owned subsidiary, Indeco Engineers, has agreed to undertake a $135 million design, construct and lease project with the manager of AIMS AMP Capital Industrial REIT (AACI REIT).

The project involves the design and construction of a warehouse located at 20 Gul Way, Singapore; the lease of the property by CWT upon completion at agreed market terms; and the subscription by CWT or its subsidiary of units in AACI REIT by way of private placement for a subscription amount of no less than $2.5 million.

Located within the Jurong Industrial Estate, the property will be developed in two phases over a period of 28 months. The property will comprise warehouses and ancillary office with gross floor area 1,159,536 square feet in aggregate on the land of 828,248 square feet.