Tag Archives: Mapletree Investments

40% of new Mapletree Business City pre-leased

Posted on 24 Sep 2009 | Comments Off on 40% of new Mapletree Business City pre-leased

A NEW business park development being built in Alexandra Road has already had 40 per cent of its space pre-leased, and could have another 15 per cent taken up soon.

HSBC Bank, Unilever, American Express (Amex) and business software provider SAP have all committed to occupying space at Mapletree Business City, said developer Mapletree Investments yesterday.

Together with several smaller tenants, who will provide amenities such as restaurants and cafes, the companies will take up 40 per cent of the development’s 1.73 million sq ft of net lettable space.

Mapletree is also ‘in advanced negotiations’ to lease out a further 15 per cent, which it expects to close soon, it said.

With the economic downturn forcing businesses to put a lid on their costs, it ‘is not surprising that there is a ready market for projects like the Mapletree Business City’, said Mrs Lim Hwee Hua, Minister in the Prime Minister’s Office and Second Minister for Finance and Transport.

Mrs Lim was the guest of honour at a tenants’ signing ceremony for Mapletree Business City yesterday. Continue reading →

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Mapletree plans Singapore Reit

Posted on 13 Sep 2009 | Comments Off on Mapletree plans Singapore Reit

MAPLETREE Investments, the property unit of Singapore’s Temasek Holdings, is poised to list a real estate investment trust (Reit) in Singapore that could hold up to S$4 billion in assets, a top executive said.

CEO Hiew Yoon Khong said yesterday the listing of the Reit would take place when stock-market conditions improved.

‘The management team is ready, and the filing process is really a two-month job,’ Mr Hiew told Reuters in an interview. ‘We were actually preparing for the IPO 16 to 18 months ago but the market turned.’

He said Mapletree planned to launch a Vietnam property fund and an Asian industrial property fund in the next 12 months and hopes to raise between US$500 million and US$1 billion for each.

Mr Hiew, who is also senior managing director (special projects) at Temasek, said Mapletree’s strategy going forward is to become ‘a real estate capital management type of business’, managing listed and unlisted funds for outside investors. He said over the next three to five years, Mapletree hoped to grow its property assets to at least S$20 billion.

Mapletree currently owns or manages nearly S$12 billion in real estate assets in several Asian countries, including China, Vietnam and Malaysia. Continue reading →

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