Mapletree Industrial Trust will turn its factory cluster in Kallang Way, Singapore into a high-tech industrial precinct through a S$263 million redevelopment.

MIT has sufficient financial capacity to fund the project, the manager said. Assuming the redevelopment is fully funded by debt, the aggregate leverage ratio is expected to increase progressively from 33.8 per cent as at March 31 to 36 per cent upon completion of the project.