AA REIT achieves TOP for Tuas redevelopment

SINGAPORE (Dec 28): The manager of AIMS AMP Capital Industrial REIT (AA REIT) on Wednesday announced that it has received the Temporary Occupation Permit (TOP) for its redevelopment at 30 and 32 Tuas West Road.

AA REIT says in an SGX filing that the redeveloped property is now valued at $60.7 million, more than quadruple its former value of $14.1 million.

Redeveloped at a cost of $41.7 million, the gross floor area of the property has been nearly doubled to 288,663 sq ft, from 159,717 sq ft previously.

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