SINGAPORE - Boustead Projects today announced (March 16) that it won a contract to develop a maintenance, repair and overhaul hangar (MRO) facility at the Seletar Aerospace Park.
This marks a second development project secured by Boustead Projects following an announcement just days ago that the real estate solutions provider will also develop the Asia headquarters for GlaxoSmithKline in Singapore.
The new MRO facility will have about 3,500 square metres in gross floor, and will be completed by end of this year.
It is the 16th aerospace facility projects that Boustead Projects - a wholly owned unit of Boustead Singapore - have undertaken so far, and its 8th in the Seletar Aerospace Park, where it has completed projects for clients including Bell Helicopter, Airbus and Rolls-Royce.
Both the GSK headquarters and this latest development are secured under the Boustead Development Partnership, which Boustead Projects formed with Abu Dhabi Investment Council, a sovereign wealth fund in the Middle East.
Launched in August last year, the partnership will develop and redevelop modern logistics and industrial facilities in Singapore, with a potential total investment pipeline of over $600 million.