Ascendas REIT is acquiring an industrial building at 1 Buroh Lane, off Jalan Buroh in Jurong, for $191.9 million. The property is being purchased from A3 Lux Alpha S.a.r.l., with completion expected in 4Q2022.

The property is a five-storey cold-storage logistics facility with a total gross floor area of over 645,500 sq ft. It is located in the Fishery Port Food Zone, near major ports like Jurong Port, Tuas Mega Port and Pasir Panjang Terminals.