Its partners in this project are its sponsor, UIB Holdings (1.38%), Fraxtor UIB Konan (50.1%) and a Tokyo-listed corporation with 24.26%.
Jonathan Koh of UOB Kay Hian has kept his "buy" call and $1.16 target price on newly-listed UI Boustead REIT after it announced its first co-development project.
According to the REIT on April 24, it has taken a 24.26% effective interest in the co-development project UIB Konan Phase 3 to build two modern logistics facilities with a total NLA of 508,880 sf at Konan City, Shiga Prefecture, Japan.
