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Singapore, 2 August 2021 – Regional law firm RHTLaw Asia represented RSH Holdings Pte Ltd (“RSH Holdings”), a multinational retail conglomerate, on its proposed divestment of 9 Changi South Street 2 (the “Property”) to Mapletree Logistics Trust (the “Acquirer”). The Property is a part 3-storey, part 4-storey temperature-controlled warehouse building with ancillary offices.
The Acquirer was granted an option to acquire the Property from RSH Holdings on 9 July 2021, subject to, among others, obtaining approval from JTC Corporation.
Established in 1977 and headquartered in Singapore, RSH Holdings is known for the distribution and retailing of more than 70 renowned international consumer brands. RSH Holdings is a part of the Al-Futtaim group of companies headquartered in Dubai.
Lead partner for the transaction, Ms Sandra Han, said, “We are delighted to support RSH Holdings in its divestment as it unlocks the value of its asset. As land scarce Singapore continues to position itself as a regional logistics hub, logistics properties continue to attract investors.”
The RHTLaw Asia team was led by partner Sandra Han and supported by associate Josephine Soh.