PGIM Real Estate has joined forces with Northstar Capital to acquire 51 Tuas View Link, a prime industrial site in western Singapore. The partnership plans to redevelop the existing warehouses into a five-storey, high-specification logistics facility. Once complete, the new building will span approximately 1.1 million square feet of gross floor area. This investment was executed through PGIM’s flagship Asia Pacific value-add real estate strategy.

The asset was purchased from Far East Organization and is situated near the upcoming Tuas Mega Port. Currently, the site houses two single-storey warehouses across roughly 457,000 square feet of land. The planned redevelopment will feature a fully ramp-up design and is intended to meet Green Mark Platinum sustainability standards.

David Fassbender, deputy head of Asia Pacific for real estate and senior portfolio manager of Asia-Pacific value-add strategies, PGIM, commented: “Amidst a rebound in real estate value, persistent supply shortages and growing demand for capital to meet sustainability requirements, value-add opportunities across Asia Pacific offer compelling potential for income growth. Our partnership with Northstar on the redevelopment of 51 Tuas View Link, a rare large prime logistics space in Singapore, underscores our strategy to secure investments with strong fundamentals, drive operational efficiency and create long-term value for investors.”

The move follows a busy 2025 for PGIM, which saw the firm complete about US$3 billion in transactions across the Asia Pacific region. Investors remain focused on Singapore’s industrial sector due to limited supply and rising demand from trade and retail consumption.

Bart Coenraads, co-CEO, Northstar Capital, said: “As one of the prime logistics facilities in Singapore, 51 Tuas View Link offers a combination of scale, connectivity and land tenure that makes it ideally positioned to meet the evolving needs of today’s tenants. Together with PGIM, we look forward to developing a modern, future-ready facility, contributing to the continued growth of Singapore as the region’s leading logistics hub.”

Strategically positioned within the Tuas South precinct, the site offers access to the Ayer Rajah and Pan-Island Expressways. Its proximity to the Tuas Checkpoint also ensures strong transport links to Malaysia, supporting regional supply chain operations.