Staff Reporter
,
Singapore
Photo from Freepik
The SPV holds the biomedical life-science development, Elementum.
The Sovereign Wealth Fund (SWF) has acquired a 49% stake in HB Universal (HBU), the special purpose vehicle (SPV) of Ho Bee Land, for $555m.
Since HBU holds Elementum, SWF will also have a stake in the state-of-the-art biomedical life-science development.
Elementum is a premier life sciences hub with a gross floor area of 445,300 square feet.
The asset is a key landmark in the Buona Vista area, adjoining the Rail Corridor Park and two major metro lines.
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