Ion Appuhamy, managing director of Balfour Beatty Investments, said: "ITE College West was the first social infrastructure PPP Project of its kind in Singapore. Having built the project and successfully operated it for nine years the time is now right for us to realise our investment.”
Balfour Beatty had a 50% interest in the project. Its co-shareholder, Jardine Pacific, also sold its 50% stake as part of the same transaction, with Balfour Beatty leading the sale on behalf of both.
The sale aligns with Balfour Beatty’s strategy of optimising value through the sale of mature investments and investing in new opportunities.