Boustead Projects to develop GlaxoSmithKline's new HQ in Singapore

SINGAPORE - Real estate solutions provider Boustead Projects has been appointed as the developer for GlaxoSmithKline's new Asia headquarters in Singapore. The project was announced by the unit's parent Boustead Singapore on Wednesday (March 11).

The project will mark Boustead Projects' inaugural development under the Boustead Development Partnership, which was struck last August with the Abu Dhabi Investment Council, a sovereign wealth fund in the Middle East.

The partnership was set up to develop and redevelop modern logistics and high quality industrial facilities in Singapore, with a potential total investment pipeline of over $600 million.

"Going forward, the Boustead Development Partnership remains a strategic platform that will allow us to capture more of such promising development and redevelopment opportunities in Singapore," Boustead development director Stephen Hawkins said.

The new GSK headquarters will be Boustead Projects' second project at JTC Corporation's one-north business park.

It will also be the 15th property on Boustead Projects' portfolio of leasehold facilities, which combined to an anticipated gross floor area of over 181,000 square metres.