Construction firm United Engineers has acquired an industrial property in Ang Mo Kio for about S$25 million. The property to be renamed UE BizHub Central comprises two buildings.
It has a seven-storey and a four-storey building linked by a skybridge with a total gross floor area of about 378,000 square feet.
United Engineers plans to further modernise and expand the property’s gross floor area to up to 500,000 square feet.
But the plans are subject to planning approval.
United Engineers will also be housing most of its business operations including its current headquarters at UE Square in the new property by the end of the year.
It said this will enhance its operational efficiency, foster a closer working relationship and promote staff interaction.
This acquisition forms part of the firm’s strategy to develop and own a portfolio of build-to-suit properties in the strategic nodes of Singapore.
Going forward, Divisional Managing Director of the property division, David Liew, said the group is looking for other potential sites where it can develop build-to-suit, integrated space solutions under the brand name of ‘UE BizHub’.
In addition, United Engineers said its other development, UE BizHub EAST is currently in construction and is scheduled for completion in 2013.
This integrated business hub comprises about 612,000 square feet of office space, 250 hotel and serviced apartment rooms and a 26,000 square foot convention centre in Changi Business Park.
Source : Channel NewsAsia – 5 Apr 2010
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