Unified Industrial (UI) and Boustead Projects Limited (BPL), a part of Boustead Singapore Limited, have announced the creation of UIB, a Pan-Asian logistics real estate platform. This collaboration aims to integrate their capabilities in acquisition, development, leasing, and asset management across key Asian markets.
The newly formed UIB will focus on real estate opportunities in logistics and data centers. These sectors are experiencing increased demand due to e-commerce growth, digitization, and regional supply chain shifts. The platform will manage assets worth $3.5 billion across Japan, China, Singapore, and Vietnam.
Josh Olsan, CEO and Founder of UI, stated that the partnership reflects "a shared ambition to create a leading logistics and industrial real estate franchise in Asia." Wong Yu Wei, Deputy Chairman of BPL, noted that the formation of UIB allows both companies to "combine forces as partners" to expand their presence in Asian markets.
James Kemp from Macquarie Asset Management commented on the strategic alignment between UI and BPL: "Our investment in UI followed our strategy of identifying real estate capability in sectors and markets in which we have strong conviction."
The transaction involves UI acquiring an economic interest in BPL’s real estate business for scrip in UIB. The finalization is subject to certain conditions.
Unified Industrial has been active since 2008 with significant investments across Japan and China. Boustead Projects offers eco-sustainable real estate solutions across several countries including Singapore and Vietnam.