Mapletree Commercial Trust current own VivoCity, Mapletree Business City I (“MBC I”), PSA Building, Mapletree Anson, Bank of Amercia Merrill Lynch HarbourFront (“MLHF”) in its portfolio.
This is one piece of news investors of Mapletree Commercial Trust has been waiting for. On 27th September 2019, Mapletree Commercial Trust has proposed the acquisition of Mapletree Business City (“Phase 2”). Since its IPO in 2011 to the current 2019, Net Property Income has increased from S$124 million to S$347.6 million. Distribution Per Unit (“DPU”) has increased from 5.271 cents to 9.14 cents.
There are various reasons or rationale the manager has provided behind the acquisition such as owning the workplace of the future, asset class provides steady rental growth at low volatility, stable cashflows with embedded rental growth from high quality tenants, further enhances Mapletree Commercial Trust portfolio and attractive valuation and NPI, DPU and NAV accretive etc. I wanted
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