UI Boustead REIT raises $973.6m in landmark public listing

This marks Singapore’s largest REIT issuance in 2026.

UI Boustead REIT has launched an initial public offering (IPO) of 677,175,200 units at $0.88 per unit, raising $973.6m.

The offering is the first REIT IPO on the SGX-ST Mainboard in 2026 and the largest REIT issuance in Singapore this year, according to a press release.

The IPO portfolio comprises 23 logistics, industrial, and business space properties in Singapore and Japan, with a total gross floor area of approximately 5.9 million square feet and an agreed property value of $1.90b.

The REIT offers distribution yields of 7.4% for 2026 and 7.8% for 2027, with the offering price at 1.0 times net asset value, the press release said.

Cornerstone investors have committed $377.7m, mainly from global and regional long-only institutional investors and family offices.

UI Boustead REIT is sponsored by UIB, a fully integrated Pan-Asian logistics and industrial real estate platform providing access to stabilised assets and co-development opportunities.

The Singapore Public Offer opens at 9 p.m. on 5 March and closes at 12 p.m. on 10 March. Trading on the Mainboard is expected to commence at 2 p.m. on 12 March.

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