UIBREIT (UIBU.SI) surged 3.21% during intraday trading on Monday, marking a significant upward movement for the real estate investment trust.
The price increase follows news that UIBREIT is co-investing with Boustead Singapore in the development of a build-to-suit aerospace facility in Seletar Aerospace Park. The project has an estimated value of around S$104 million and will be fully leased to a leading global aerospace corporation for approximately 22.5 years with built-in rental escalations.
UIBREIT holds a 51% interest in this development, which represents a substantial long-term investment with secured rental income. The announcement of this project, revealed in a bourse filing on Friday, has generated positive investor sentiment toward the REIT's growth prospects and income stability.