SINGAPORE (May 17): The manager of AIMS AMP Capital Industrial REIT (AA REIT) announced Thursday that the group will redevelop its property at 3 Tuas Avenue 2 into a modern industrial facility for approximately $48.2 million.

The design-and-build project will transform the site into a modern and versatile ramp-up industrial facility suitable for both production and storage. The redevelopment will also increase the ease of sub-dividing the property for multi-tenancy usage, enhancing the property’s flexibility for customisation and leasing.

The property’s gross floor area is expected to increase by 52% to approximately 24,890 sqm, with its plot ratio raised from the current 0.92 to the maximum of 1.40.

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