King & Wood Mallesons advises UBS Asset Management on S$250m joint venture

King & Wood Mallesons (KWM) has advised UBS Asset Management's real estate and private markets business on its role as manager of Boustead Development Partnership, a S$250 million joint venture between a Middle East Sovereign Wealth Fund and developer Boustead Projects for the development and redevelopment of new industrial facilities in Singapore. 

Once fully invested and leveraged, the portfolio will be worth in excess of S$800 million. S$119 million, almost 50% of the funds, has already been committed towards four projects, two of which have been completed.

Commenting on the deal, lead partner Guo Sun Lee said, "This is our second opportunity in advising on the Boustead Development Partnership, first on the establishment of the joint venture in 2014 and now on the transfer to UBS as manager. This continuity is reflective of our commitment to providing a consistent and outstanding client service experience."

The KWM team was led by Guo Sun Lee, supported by associate Janine Ding.