Latest news with #MapletreeInvestments
Straits Times
3 days ago
- Business
- Straits Times
Growing value across markets
Mapletree's four core sectors - logistics, student housing, office and data centre - represented by Student Castle Brighton; 44490 Chilum Place, Ashburn; Mapletree Business City and Parets DC1 (front to back, left to right). WHEN VivoCity opened its doors in 2006, it redefined what a waterfront retail destination could be. Built on a bold wave-inspired design, the mall quickly became a landmark of Singapore's southern coast, drawing more than 13 million visitors in its first three months alone. Behind the transformation was Mapletree, then a young real estate company formed only a few years earlier. That milestone project set the tone for what would become the company's hallmark: Creating value by reimagining space. The former 24-hectare HarbourFront Precinct was once home to ageing office buildings, underused exhibition halls and vacant plots. 'Transforming the HarbourFront Precinct into a thriving waterfront business and retail destination has been one of our most ambitious undertakings to date,' says Mr Hiew Yoon Khong, Group Chief Executive Officer, Mapletree Investments. 'Breathing new life into the area required physical redevelopment and a bold reimagination of its potential.' Since then, HarbourFront Precinct has continued to thrive, attracting a growing base of office and retail tenants. Today, its success – anchored by VivoCity, HarbourFront Centre, HarbourFront Towers One and Two, Bank of America HarbourFront, St James Power Station and The Reef at King's Dock – highlights Mapletree's vision for large-scale transformation. As at March 31, 2025, Mapletree is a leading global real estate company with S$80.3 billion in assets under management (AUM), of which S$60.3 billion are third-party managed. Its business model integrates four key roles of developer, investor, capital manager and property manager, fuelling its expansion into 13 markets across Asia Pacific, the United Kingdom (UK), Europe and North America. Transforming precincts Mapletree's approach to real estate transformation extends beyond individual assets to entire precincts. Following the successful revitalisation of HarbourFront Precinct, an equally ambitious transformation reshaped the Alexandra Precinct, reinforcing Mapletree's track record of delivering consistently attractive real estate investments. Located along the Alexandra and Telok Blangah corridor, the site was reimagined over multiple phases. The low-yielding Alexandra Distripark was redeveloped into Mapletree Business City (MBC) I, comprising an office tower and three business park buildings. Meanwhile, an asset enhancement initiative transformed the retail podium of PSA Building (now known as mTower) into Alexandra Retail Centre (ARC). In the final phase, The Comtech was redeveloped into MBC II, a 30-storey, best-in-class business park and the tallest of its kind in Singapore. Top stories Swipe. Select. Stay informed. Singapore Luxury items seized in $3b money laundering case handed over to Deloitte for liquidation Singapore MyRepublic customers air concerns over broadband speed after sale to StarHub Singapore Power switchboard failure led to disruption in NEL, Sengkang-Punggol LRT services: SBS Transit Singapore NEL and Sengkang-Punggol LRT resume service after hours-long power fault Business Ninja Van cuts 12% of Singapore workforce after 2 rounds of layoffs in 2024 Singapore Hyflux investigator 'took advantage' of Olivia Lum's inability to recall events: Davinder Singh Singapore Man who stabbed son-in-law to death in Boon Tat Street in 2017 dies of heart attack, says daughter Singapore Man who stalked woman blasted by judge on appeal for asking scandalous questions in court Combined, MBC, mTower and ARC have turned the Alexandra Precinct into a thriving business hub, complete with Grade A specifications and easy MRT access. These efforts reflect Mapletree's broader strategy of rejuvenating entire precincts. It transformed the former World Trade Centre into VivoCity, and redeveloped Alexandra Distripark and The Comtech into Mapletree Business City. Today, these two precincts are established destinations for global businesses and retailers. Proven growth through Reits and private funds Mapletree's capital management franchise has played a major role in its growth story. Its three listed Reits, Mapletree Logistics Trust (MLT), Mapletree Industrial Trust (MIT) and Mapletree Pan Asia Commercial Trust (MPACT), have delivered 10-year (refer to Footnote 1) total unitholder returns of 70.8 per cent, 112.4 per cent and 33.4 per cent respectively. Their assets span logistics parks, industrial spaces, data centres, as well as retail and office buildings across key global cities. These Reits are backed by stable rental income from well-located assets and a robust stream of growth opportunities. 'Our listed Reits have delivered attractive and long-term returns, supported by a disciplined strategy and the backing of Mapletree as their strong Sponsor,' says Mr Hiew. 'As a Sponsor, we provide access to high-quality assets, a clear pipeline for future growth and in-depth operational knowledge. These reasons reassure investors and stakeholders about the quality and viability of our Reits' growth,' he adds. Beyond listed vehicles, Mapletree currently manages nine private real estate funds and platforms with over S$20 billion in AUM, offering investors access to diverse investment opportunities across the globe. Since inception, it has launched 16 private funds with curated investment portfolios that meet investors' varying risk-return profiles across market cycles. Apart from being aligned with Mapletree's internal high conviction strategies, these funds also benefit from strong Sponsor participation, as Mapletree typically holds approximately a 20-40 per cent stake in each of the funds. A key example of this is the Mapletree US & EU Logistics Private Trust (MUSEL), which was launched in March 2019. At inception, MUSEL is a fully invested income yielding portfolio comprising 262 logistics assets across 26 states in the United States (US) and 20 cities in seven European countries, with a total investment value of ~S$6.1 billion, raising a total of ~S$2.4 billion in equity. More recently in April 2024, Mapletree successfully closed its 16th private fund amid a challenging backdrop of rising interest rates. Mapletree Japan Investment Country Private Trust (MAJIC) is the Group's second Japan logistics development fund, targeting an AUM of ~S$1 billion (refer to Footnote 2) when fully deployed, and the third one focused on Japan. The strong reception of MAJIC by a diverse group of new and returning investors who have committed ~S$443 million (refer to Footnote 2) in equity, reflects the Group's track record in fund management and development capabilities. It also underscores Mapletree's ability to navigate different economic cycles while maintaining investor confidence. Building a global presence Mapletree's global expansion has followed a disciplined strategy of entering markets and sectors with structural growth potential. It now operates in 13 markets and has made strategic investments across logistics, office, data centre, student housing and other properties. 'Having 21 offices and boots on the ground across the globe allows us to keep abreast of the developments in key markets. Being embedded in local markets also increases our visibility for these transactions, whether managing operations, acquiring new assets or undertaking development projects,' explains Mr Hiew. 'We also pay close attention to the performance of different asset classes and the evolving demands. By anticipating trends and cementing our positions in markets with structural growth potential, we have built a resilient portfolio of around 950 properties across 13 markets today.' The logistics sector has seen robust growth, which Mapletree believes will continue to expand. With rising demand from e-commerce and resilient supply chains, logistics now forms the largest sector in the Group's AUM, spanning over 700 properties. As at March 31, 2025, AUM for Mapletree's logistics asset class surpassed S$33.7 billion, positioning the Group to actively pursue growth opportunities in the US, Europe and Asia Pacific over the next five years. Most recently, Mapletree deepened its logistics footprint in Europe with the acquisitions of its first two logistics assets in the UK and 10 warehouses in Spain. In addition, Mapletree was recognised as the Logistics Investor of the Year (Asia Pacific) at the 2024 PERE awards. In Ho Chi Minh City, Vietnam, Mapletree built Saigon South Place, a 4.4-hectare integrated mixed-use development comprising shopping mall SC VivoCity, Grade A office building Mapletree Business Centre, Oakwood Residence Saigon & RichLane Residences. SC VivoCity is also the first shopping mall in Vietnam to achieve the US Green Building Council's LEED Gold certification. In Reading, the UK, Green Park clearly demonstrates the Group's office strategy. Spread across 195 acres, the leading business park offers Grade A office space and is home to multinational corporations across defence, technology, telecoms, pharmaceuticals and healthcare. In addition, Green Park is a biodiversity sanctuary, sheltering over 60 bird species. It proudly celebrated 10 years of recognition with the Wildlife Trusts' Biodiversity award, highlighting Mapletree's commitment to creating green spaces within its assets. The student housing sector is another area where Mapletree has built scale. Its portfolio includes 82 purpose-built student accommodation (PBSA) assets across 43 cities in the UK, US, Germany and Canada, offering nearly 29,000 beds. Assets such as the 453-bed Westwood Student Mews in Coventry represents Mapletree's first student housing development in the UK, while the 513-bed The Chestnut at University City in Philadelphia marks Mapletree's first student housing development project in the US. These developments highlight Mapletree's capability to develop and manage high-quality, well-located PBSA offerings. In April 2024, Mapletree completed a ~S$1.7 billion (refer to Footnote 3) strategic acquisition comprising a portfolio of 31 student housing assets across the UK and Germany, along with the award-winning Student Castle operating platform. This deal catapulted Mapletree from the seventh to the fourth-largest student housing owner in the UK as at March 31, 2025, and established in-house operating capabilities that are essential for scaling the Group's student housing business. The Student Castle brand has successfully developed and refurbished 15 assets over 15 years, including two heritage-enhancing developments in Bath and Durham, and two award-winning projects in Oxford and York. The data centre segment has gained momentum too. Through developments, joint ventures and acquisitions, the Group has grown its data centre presence, now spanning across Singapore, the US, Japan and Hong Kong SAR. In 2021, MIT acquired 29 US-based data centres across 18 states and gained exposure to new established markets such as Chicago, Los Angeles and Houston. Earlier in 2019, Mapletree and MIT acquired a ~S$1.9 billion portfolio from Digital Realty, and entered a co-investment in hyperscale data centres. Positioned for the next phase Having entered its fourth Five-Year Plan in Financial Year 2024/2025, Mapletree's growth strategy remains focused on four core sectors: logistics, student housing, office and data centre. These asset classes continue to show long-term resilience and structural demand across key global markets. In logistics, the Group is actively expanding its footprint in the US and Europe, while deepening its presence in fast-growing Asian markets such as India, Malaysia and Vietnam. To support this momentum, Mapletree is planning new fund platforms, including a logistics development fund targeting emerging Asia, where institutional-grade warehousing remains limited. Additional fund strategies are being explored for logistics opportunities in Europe and the US, supporting broader expansion efforts in key markets. At the same time, student housing remains another scalable growth engine. Buoyed by continued demand for quality higher education and increasing international student mobility, Mapletree is evaluating opportunities to strengthen its portfolio across the UK, including syndicating a UK-focused student housing fund and expanding into new markets such as Australasia and continental Europe. Its ability to develop and manage student accommodation facilities in-house ensures quality and reliable services to students. 'Our logistics and student housing portfolios have grown significantly as they are underpinned by strong, long-term demand drivers. We maintain a positive outlook on these sectors and will continue to leverage our in-house operating and development capabilities to grow our footprint,' says Mr Hiew. He adds: 'Asian territories like Singapore, Hong Kong SAR and Japan are gaining popularity due to their affordable yet globally recognised institutions. We are closely monitoring student mobility and assessing these destinations as potential additions to our global portfolio.' With digital infrastructure requirements rising globally, the Group sees strong upside in the data centre sector. Mapletree will continue to explore new opportunities to expand its data centre footprint in established core markets in Europe, where investor appetite remains strong, and rapidly emerging markets such as Milan and Madrid which present strong potential for returns. Within Asia Pacific, Mapletree will focus on mature markets like Japan and emerging markets like South Korea. Mapletree's office sector strategy will centre on India and Vietnam in the short- to medium-term, where hybrid work trends have had less impact and demand for high-quality offices remains strong. These markets present favourable rental growth prospects and long-term investment potential. Branching out globally While international growth is a key focus, Mapletree continues to enhance its home ground advantage. It remains committed to strengthening its presence in Singapore's Greater Southern Waterfront, leveraging its earlier success at HarbourFront Precinct. Building on this foundation, the Group will also continue to structure new private funds that generate sustainable returns for investors. This commitment to growing at home and abroad reflects Mapletree's evolution over the past two decades. What began as a local real estate business now spans continents, sectors and investor classes, with a growth story that is still unfolding. 1 From April 1, 2015 to March 31, 2025 2 Based on exchange rate as at fund inception 3 Based on exchange rate as at March 31, 2024
Business Times
08-07-2025
- Business
- Business Times
Temasek's Mapletree Investments eyes expansion in data centres, logistics and student housing
[SINGAPORE] Temasek's Mapletree Investments said it will look at opportunities to expand and diversify its footprint in data centres, logistics and student housing, three of its four core sectors. For data centres, it sees a surge in demand powering continued expansion in the sector. In particular, it will seek such opportunities in Europe, where a record amount of data centre capacity of 937 megawatts (MW) is expected to be added this year. That's up 43 per cent from 2024, the property giant said in its annual report for the financial year ended Mar 31. 'Investor appetite in this asset class will remain strong, driven by significant demand for computing power and data storage, lack of supply, desirable financial returns and growing interest around artificial intelligence (AI),' said group chief executive Hiew Yoon Khong. The company's focus in Europe is on established core markets as well as rapidly emerging markets such as Milan and Madrid which present strong potential for returns, he added. Within Asia-Pacific, Mapletree will focus on mature and high-potential emerging markets such as Japan and Korea. Most of Mapletree's data centre assets are held by Singapore-listed real estate investment trust (Reit), Mapletree Industrial Trust . BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Mapletree also manages two Singapore-listed Reits and nine private equity real estate funds. Logistics and accommodation The property giant is 'generally positive' on the outlook of the logistics sector as well, 'with continued growth in demand for warehousing space expected in most markets', said Hiew. The sector is Mapletree's largest asset class, accounting for 42 per cent, or around S$33.7 billion of the group's total assets under management (AUM) of S$80.3 billion as at Mar 31. In the US, Mapletree expects groundbreaking for its logistics development on a 91,135 square metre site in New Jersey in the second half of this year. It will keep buying more land parcels to develop. Turning to student housing, another of Mapletree's core sectors, the company said it is looking to expand its footprint in new markets such as Spain. It has also recently started looking at opportunities in Australia, where it said there is growing demand and structural undersupply in the asset. Mapletree is in the process of preparing for the launch of a student-housing-focused fund in the current financial year ending on Mar 31, 2026. This will comprise its UK student housing assets with a total AUM of at least £500 million (S$865 million). As for office, also a core sector for Mapletree, Hiew said the company is 'cautious' in the short to medium term, given that certain markets are still impacted by the practice of remote work. Even so, Mapletree has continued to invest in the office markets in India and Vietnam.
Yahoo
07-07-2025
- Business
- Yahoo
Boost Your Portfolio with These 3 High-Quality Singapore REITs
The REIT sector had to endure more than two years of challenges as surging interest rates and soaring inflation ate into REITs' results. Many REITs had to grapple with higher operating and finance costs, which crimped their distributable income and, by extension, their distribution per unit (DPU). Income investors need to filter out strong and reliable REITs that can weather these challenges and emerge relatively unscathed. These REITs should possess strong sponsors, a robust portfolio of properties, with a manager that focuses on acquisitions and capital recycling to deliver sustainable returns. Here are three high-quality Singapore REITs that can help fortify your portfolio during tough times. Mapletree Industrial Trust, or MIT, is an industrial REIT with a portfolio of 141 properties spread across Singapore (83), the US (56), and Japan (2). The REIT had assets under management (AUM) of S$9.1 billion as of 31 March 2025. MIT is supported by a strong sponsor in Mapletree Investments Pte Ltd, an investment firm that manages a diverse portfolio of real estate assets worth S$80.3 billion as of 31 March 2025. The REIT is one of several that managed to increase its DPU. For its fiscal 2025 (FY2025) ending 31 March 2025, MIT saw gross revenue rise 2.1% year on year to S$711.8 million. Net property income (NPI) inched up 2% year on year to S$531.5 million while DPU crept up 1% year on year to S$0.1357. The REIT manager announced proactive asset management moves to manage the impact of vacancies in its North American data centres. These include reletting by extending leases or backfilling vacant spaces, repositioning assets through redevelopments, and rebalancing the portfolio through the divestment of non-core properties. Portfolio occupancy remained high at 91.6% for FY2025, and the industrial REIT registered a positive rental reversion of 8.1% for renewal leases in its Singapore portfolio. The manager was also active in acquisitions, as it announced the purchase of an Osaka data centre back in May 2023. The fitting out of this data centre was done in four phases and was completed back in May this year. That same month, MIT also announced the divestment of three properties in Singapore for S$535.3 million at a small premium to the properties' valuation. Although the sale will slightly lower DPU, it will reduce MIT's aggregate leverage to 37% (from 40.1%) and improve portfolio occupancy to 92%. CapitaLand Ascendas REIT, or CLAR, is Singapore's oldest industrial REIT and owns a portfolio of 226 properties with an AUM of S$16.9 billion as of 31 March 2025. The REIT is anchored by a strong sponsor in blue-chip CapitaLand Investment Limited (SGX: 9CI), which manages S$117 billion of funds under management. Like MIT, CLAR is also one of several REITs to report a slight year-on-year DPU increase. DPU for 2024 inched up 0.3% year on year to S$0.15205 on the back of a 2.9% year-on-year improvement in gross revenue to S$1.52 billion. The REIT's first quarter of 2025 (1Q 2025) business update also displayed strong operating metrics. Portfolio occupancy stood high at 91.5% and the portfolio enjoyed a positive rental reversion of 11%. Back in May, the manager announced a yield-accretive acquisition of two fully occupied industrial properties in Singapore. This purchase is poised to add 1.36% to CLAR's 2024 DPU and also opens up the properties to organic growth potential that can increase their rental income in the future. Meanwhile, CLAR is also undertaking ongoing projects worth S$498.4 million to improve the returns on its existing portfolio. These projects, which include redevelopments and refurbishments, should be completed from 3Q 2025 to 1Q 2028. Parkway Life REIT is a healthcare REIT with a portfolio of three hospitals in Singapore, 60 nursing homes in Japan, and 11 nursing homes in France. The REIT used to own a strata-titled medical centre in Malaysia, but this asset was divested after 1Q 2025. Parkway Life REIT has a strong sponsor in IHH Healthcare Berhad (SGX: Q0F), an integrated healthcare player that owns hospitals and clinics in Singapore, Malaysia, and Turkey. The healthcare REIT has a stellar DPU track record, having reported uninterrupted core DPU increases since its IPO in 2007. Its 1Q 2025 business update was equally impressive. Gross revenue and NPI increased by 7.3% and 7.5% year on year, respectively, to S$39 million and S$36.8 million. DPU continued its rise, increasing 1.3% year on year to S$0.0384. Parkway Life REIT announced a major acquisition of 11 nursing homes in France last year for €112 million. This purchase adds a third key market for the healthcare REIT that can provide DPU growth and diversification. The REIT's gearing remained reasonable at 36.1% with a low all-in cost of debt of just 1.5%. With a healthy interest cover ratio of 9.3 times, Parkway Life REIT can tap into more debt financing for more yield-accretive acquisitions in the future. Boost your portfolio's returns with 5 SGX stocks that promise both stability and steady growth. We bring you the names of these rock-solid stocks, including why they could drive massive dividends over the next few years. If you're looking to invest for retirement, this guide is a must-read. Click HERE to download now. Follow us on Facebook, Instagram and Telegram for the latest investing news and analyses! Disclosure: Royston Yang owns shares of Mapletree Industrial Trust. The post Boost Your Portfolio with These 3 High-Quality Singapore REITs appeared first on The Smart Investor. 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Straits Times
03-06-2025
- Business
- Straits Times
Mapletree Investments returns to profit, hits record assets under management of $80.3 billion
Mapletree Investments manages three Singapore-listed real estate investment trusts and nine private equity real estate funds. PHOTO: ST FILE Mapletree Investments returns to profit, hits record assets under management of $80.3 billion SINGAPORE - Temasek's Mapletree Investments reversed a loss from the previous year to turn a profit of $227.2 million for the full-year ended March 31, on the back of narrowed overall revaluation losses. This was while its assets under management (AUM) hit a record $80.3 billion, 3.6 per cent higher than $77.5 billion reported in the same period the year before, the company said in a statement on June 3. Revenue for the period was $2.2 billion, lower than the year before due to the deconsolidation of Mapletree Logistics Trust (MLT), one of three Singapore-listed real estate investment trusts managed by the group. Excluding the impact of the deconsolidation, the group's revenue was 1.2 per cent higher than in the previous financial year. Recurring profit after tax and minority interests was $637.4 million for the full year. Separately, the company recorded total net proceeds of $897 million from divestment of non-core assets, other divestments to MLT and the syndication of Mapletree Japan Investment Country Private Trust. The group's projects under development increased to $5.5 billion, from $3.7 billion previously. Mr Hiew Yoon Khong, group chief executive officer, said the company had deepened its focus on its core sectors for this financial year. These include logistics, student housing, office and data centres. This was done through prioritising operational performance, investing selectively in specific markets with growth potential, and embarking on more development projects for higher returns, he added. 'These strategic priorities underpinned Mapletree's resilient FY24/25 performance, and will continue to guide the group in fostering sustainable growth.' Logistics and accommodation Mapletree Investments manages three Singapore-listed real estate investment trusts and nine private equity real estate funds. In logistics, the group continued to acquire quality logistics assets and embarked on new logistics development initiatives across the Asia-Pacific. In Europe, it entered the United Kingdom logistics market by acquiring Derby DC1 and Verda Park. It also deepened its presence in Spain by acquiring a portfolio of 10 logistics assets. As at March 31, 2025, the group's logistics portfolio in Europe and the United Kingdom stood at $2.2 billion. The group is also currently marketing a new logistics development fund, focusing on Malaysia, India and Vietnam, where 'institutional-grade logistics products are undersupplied', it said. The Mapletree Emerging Growth Asia Logistics Development Fund (Mega), will comprise development assets with a total AUM of US$1.8 billion (S$2.3 billion), and is targeted to close this year. In student housing, the group completed a £1 billion (S$1.74 billion) acquisition of a portfolio of 31 UK and Germany student housing assets. This move sent Mapletree to fourth position among the largest student-housing owners in the UK as at March 31, from seventh place. Offices and data centres As for the office sector, Mapletree continued to pour investments into the India and Vietnam markets to ride the demand for quality offices. In India, the group acquired a land parcel in Bengaluru for a greenfield office-development project called Global Business City in FY24/25. When completed, it will house office spaces with a net lettable area of 743,224 sq m on a plot 153,780 sq m in size. Iin Vietnam, Mapletree acquired a land parcel in Hanoi to develop a 92,000 sq m, Grade-A mixed-use office project with retail amenities. In the data centre sector, Mapletree Industrial Trust acquired a freehold, mixed-use facility in Japan, with a redevelopment opportunity to turn it into a data centre. Meanwhile, the group's first data centre development, in Fanling, Hong Kong, is set to complete in the second half of this year. 'Mapletree will continue to explore new opportunities to expand its data centre footprint in established core markets in Europe, where investor appetite remains strong,' it said. It will also explore emerging markets such as London, Milan and Madrid, which present 'strong potential for returns'. In the Asia-Pacific, the group will focus on mature and high-potential markets such as Japan and Korea. Said Mr Hiew: 'We will continue to prioritise enhancing operational performance for our existing assets, maintaining a selective investment approach in markets with growth potential, creating greater value through development projects... all the while deepening collaborations with like-minded capital partners on new funds and syndication.' THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
03-06-2025
- Business
- Business Times
Temasek's Mapletree Investments returns to profit, hits record AUM of S$80.3 billion in FY2025
[SINGAPORE] Temasek's Mapletree Investments reversed a loss from the previous year to turn a profit of S$227.2 million for the full-year ended Mar 31, on the back of narrowed overall revaluation losses. This was while its assets under management (AUM) hit a record S$80.3 billion, 3.6 per cent higher than S$77.5 billion reported in the same period the year before, the company said in a statement on Tuesday (Jun 3). Revenue for the period was S$2.2 billion, lower than the year before due to the deconsolidation of Mapletree Logistics Trust (MLT), one of three Singapore-listed real estate investment trusts managed by the group. Excluding the impact of the deconsolidation, the group's revenue was 1.2 per cent higher than in the previous financial year. Recurring profit after tax and minority interests was S$637.4 million for the full year. Separately, the company recorded total net proceeds of S$897 million from divestment of non-core assets, other divestments to MLT and the syndication of Mapletree Japan Investment Country Private Trust. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up The group's projects under development increased to S$5.5 billion, from S$3.7 billion previously. Hiew Yoon Khong, group chief executive officer, said the company had deepened its focus on its core sectors for this FY. These include logistics, student housing, office and data centres. This was done through prioritising operational performance, investing selectively in specific markets with growth potential, and embarking on more development projects for higher returns, he added. 'These strategic priorities underpinned Mapletree's resilient FY24/25 performance, and will continue to guide the group in fostering sustainable growth.' Logistics and accommodation Mapletree Investments manages three Singapore-listed real estate investment trusts and nine private equity real estate funds. In logistics, the group continued to acquire quality logistics assets and embarked on new logistics development initiatives across the Asia-Pacific. In Europe, it entered the United Kingdom logistics market by acquiring Derby DC1 and Verda Park. It also deepened its presence in Spain by acquiring a portfolio of 10 logistics assets. As at Mar 31, 2025, the group's logistics portfolio in Europe and the UK stood at S$2.2 billion. The group is also currently marketing a new logistics development fund, focusing on Malaysia, India and Vietnam, where 'institutional-grade logistics products are undersupplied', it said. The Mapletree Emerging Growth Asia Logistics Development Fund (Mega), will comprise development assets with a total AUM of US$1.8 billion, and is targeted to close this year. In student housing, the group completed a £1 billion (S$1.7 billion) acquisition of a portfolio of 31 UK and Germany student housing assets. This move sent Mapletree to fourth position among the largest student-housing owners in the UK as at Mar 31, from seventh place. Offices and data centres As for the office sector, Mapletree continued to pour investments into the India and Vietnam markets to ride the demand for quality offices. In India, the group acquired a land parcel in Bengaluru for a greenfield office-development project called Global Business City in FY24/25. When completed, it will house office spaces with a net lettable area of 743,224 square metres (sq m) on a plot 153,780 sq m in size. Over in Vietnam, Mapletree acquired a land parcel in Hanoi to develop a 92,000 sq m, Grade-A mixed-use office project with retail amenities. In the data centre sector, Mapletree Industrial Trust acquired a freehold, mixed-use facility in Japan, with a redevelopment opportunity to turn it into a data centre. Meanwhile, the group's first data centre development, in Fanling, Hong Kong, is set to complete in the second half of this year. 'Mapletree will continue to explore new opportunities to expand its data centre footprint in established core markets in Europe, where investor appetite remains strong,' it said. It will also explore emerging markets such as London, Milan and Madrid, which present 'strong potential for returns'. In the Asia-Pacific, the group will focus on mature and high-potential markets such as Japan and Korea. Said Hiew: 'We will continue to prioritise enhancing operational performance for our existing assets, maintaining a selective investment approach in markets with growth potential, creating greater value through development projects ... all the while deepening collaborations with like-minded capital partners on new funds and syndication.'
