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Straits Times
12 hours 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
Yahoo
6 days ago
- Entertainment
- Yahoo
10 best places to eat in VivoCity for a foodie's day out
VivoCity is one of Singapore's largest malls and with all that space comes an equally large number of places to eat. It wouldn't be an exaggeration to say that you'll be able to spend a full day there. How do you choose from so many fine dining and casual dining options, so many different types of cuisine, and such a wide range of specialty foods? Well, we did it! Here's our super-curated organic list of 10 best places to eat in VivoCity for a foodie's day out, including must-try restaurants, cafes and casual eateries. 1. SERVUS German Burger Grill (#01-57) Hailing from the city of Munich, SERVUS German Burger Grill (formerly known as Hans Im Glück) is a popular German restaurant that specialises in gourmet grilled burgers. The rebranding happened in Nov 2024 to honour their roots while expanding their menu. With its chic and comfortable atmosphere, the restaurant is ideal for everything from lively get-togethers to quiet date nights. You'll be spoiled for choice when you peruse their menu — it consists of a wide array of juicy burgers that'll appeal to just about anyone. Each burger consists of a hefty patty served with lettuce, onions, tomatoes and their signature sauce. I've returned time and again for their range of beef burgers, including the barbecue sauce-laden Wilder Western (S$16.90 à la carte, S$20.90 for set) and my go-to Käse & Speck (S$17.90 à la carte, S$21.90 for set) that's layered with cheese and bacon. I always have mine in a set with soda and sweet potato fries. If you crave a spicy kick, opt to have your patty with a Pepper Crust (S$1). If you don't eat beef, there are Grilled Chicken Breast Burgers and Vegan Burgers available too. Order Delivery: foodpanda Deliveroo +65 8879 7848 Daily: 11am – 11pm Facebook | Instagram | Website 2. GO Noodle House (#B2-24) Looking to secure a satisfying noodle fix? Go straight to GO Noodle House. This famous chain from Malaysia is known for its signature Mi Xian noodles and Superior Soup inspired by recipes that date back to the Qing Dynasty. They're proud of their rich Chinese heritage, too— as can be seen from the restaurant's oriental decor akin to an olden Chinese inn. As if it wasn't already obvious enough, GO Noodle House offers an extensive menu of noodle dishes. Some must-trys include its range of soup noodles, such as the Signature Bursting Meatball Noodles (S$12.90) and Fu Zhou Fish Ball Noodles (S$12.90), all starring their mixian noodles and the rich Superior Soup. If you're a fan of ban mian like I am, you'll be delighted to know that they have Superior Soup Pan Mee (S$10.90) and Special Dark Sauce with Onsen Egg Pan Mee (S$10.90, S$11.90 with Spicy & Sour Sauce), of which I had the latter. The noodles were perfectly thick and chewy, coated evenly in a luscious dark sauce and served with some black fungus and spinach. There was also a side of minced meat, fried shallots, ikan bilis and of course a tangy sambal that I mixed in for an extra oomph. I opted to top my noodles with the Signature Bursting Meatballs for an additional S$3.80. They were juicy and flavourful; I could only wish for more. Order Delivery: foodpanda Deliveroo +65 6968 8323 Sun to Thu: 11am – 9pm Fri & Sat: 11am – 9.30pm Facebook | Instagram | Website For a list of locations, contact numbers and opening hours, click here. 3. Hokkaido-Ya (#02-153) You can tell from Hokkaido-Ya's name that it's the place to get authentic Hokkaido fare. Helmed by the folks behind Sushi Tei, this casual eatery specialises in a wide range of affordable Japanese classics and desserts. Some Hokkaido delights you can indulge in include a variety of White Curry and various types of Ramen and Udon. Their signature Shirobuta Pork Katsu Hokkaido (S$15.10) – a hefty deep-fried pork cutlet served with creamy white gravy, is not to be missed. If you're more of a noodle person, perhaps you can go for their Hokkaido Butter Corn Hotate Ramen (S$14). Hokkaido-Ya went through a menu revamp, launching a series of tantalising rice bowls. Their range of Bara Chirashi Don is particularly attractive, including an Ebi Fry Aburi Mentai Bara Chirashi Don that's sure to be any mentaiko lover's weakness. Here, a layer of smoky mentaiko sauce blankets the rice and some melt-in-your-mouth seafood. It's then topped with a glorious golden brown ebi tempura. Order Delivery: foodpanda Deliveroo +65 6376 9591 Daily: 11.30am – 10pm Facebook | Instagram | Website 4. Mr. Onigiri (#B2-23D) Mr. Onigiri is a casual eatery that specialises in Okinawan-style onigiri. It started out as a hole-in-the-wall takeaway kiosk along Upper Thomson Road in 2021 before opening a dine-in outlet in VivoCity. The minimally-decorated space exudes zen vibes, complete with small tables and cushioned benches for you to enjoy your food at. The onigiri at Mr. Onigiri can be described as the compact form of a sandwich, as opposed to the triangular or circular rice balls that we're arguably more acquainted with. Some menu items you can find here include the Spam with Onigiri (Okinawa Classic)(S$5.90), Signature Melted Cheesy Crispy Chicken (S$8.90) and the outlet-exclusive Teriyaki Grilled Salmon (S$11.90). These all make for perfect snacks and perhaps even light meals when you're not feeling particularly hungry. My personal favourite is the Otakotak Onigiri (S$9.90) which includes spam, tamagoyaki, a huge slab of Muar otah, cucumber slices and mentaiko sauce, all sandwiched between Japanese rice and seaweed. I especially love the contrast between the creamy, spicy otah and the salty spam. As you can tell, I couldn't hold myself back from taking a bite before snapping a photo. Burp. Order Delivery: foodpanda Deliveroo Sun to Thu: 11am – 9pm Fri & Sat: 11am – 9.30pm Facebook | Instagram | 5. Bulgogi Syo (#B2-29) Bulgogi Syo is the perfect spot for anyone seeking the aromatic flavours of Korean BBQ but don't want to grill it themself. With its name translating to 'perfect fire meat show', this Korean restaurant's renowned cooking process is quite the spectacle. Bulgogi-Syo is known for their 3-step Hot Stone grilling technique that makes use of blow torches that go up to 1400°C. The product is perfectly smoky and succulent cuts of meat served on hotplates. Grab a friend or two and indulge in the Mixed Combo (S$65) which comes with Pork Collar, Chicken, and your choice of either Angus Beef Ribeye or LA Galbi. The set also includes a Vegetable Plate, 2 bowls of seaweed rice and a Korean stew of choice: either Kimchi Jjigae, Tteok Mandu Jjigae or Chadol Beanpaste Jjigae. Of course, à la carte portions are available too. These include the Spicy Cheesy Chicken Galbi (S$20.90), Spicy Baby Octopus (S$21.90) and Duroc Pork Belly (S$21.90). Order Delivery: foodpanda +65 9339 2829 Daily: 11.30am – 9pm Facebook | Instagram | Website For a list of locations, contact numbers and opening hours, click here. 6. Rollney (#02-133) Now that Rollney has opened in VivoCity, you no longer have to travel to Europe for a chimney cake. This popular dessert kiosk from Malaysia prides itself on its chimney cakes, which it calls Kurtos Rolls. If you've never sunk your teeth into one, it's crispy on the outside and fluffy on the inside. Oh, they're handmade and baked fresh daily! The Kurtos (S$3) at Rollney comes in 3 flavours: Original, Cinnamon and Chocolate. You can enjoy it on its own or with 1 of 13 types of sauce toppings for S$3.50. There are even savoury Kurtos here, filled with ingredients like hot chilli chicken sausages and tuna. Alternatively, you can have the Kurtos Ice Cream (S$5 with 1 topping, S$5.50 with 2 toppings), which comes with either low-fat Hokkaido milk or Royal Chocolate soft serve. Daily: 10am – 10pm Facebook | Instagram | Website 17 affordable Japanese food in Singapore that will make you go Oishii! 7. Cafe Q Classified (#B1-02) You might as well own up: you were more attracted by the beautiful purple decor than the food or uniQue name. Join the club! Cafe Q Classified is a serenely-decorated cafe that stands out from virtually every other store in VivoCity and attracts a ton of diners for just that reason. Start your day right with the all-day breakfast menu composed of favourites like Avocatoast (S$10.90) and Humpty Dumpty (S$9.90) — our local kaya toast set but with Korean croffles in place of bread! Want something heartier? Opt for humorously-named mains like the Ang Mo Kio Burger (S$12) and Crazy Rich Mee Pok (S$38), an uni truffle pasta with lobster. The Kong Bah Pheng (S$18) is highly-recommended — you'll get a huge portion of braised pork belly and mushrooms on rice, with an onsen egg and a side of miso soup. And, of course, dessert. Allow us to draw your attention to the Cinnamon Bun (S$4.80) — a fluffy delight doused in a generous serving of decadent chocolate sauce and almond flakes. Be sure to stop by Cafe Q Classified if you're in need of a sugar fix. +65 6252 2788 Daily: 9.30am – 10pm Facebook | Instagram | Website For a list of locations, contact numbers and opening hours, click here. 8. Crystal Jade Pavilion (#01-112) Ask any Chinese family and they'll agree that Crystal Jade restaurants are the place to be for reunion dinners, celebrations and such. Enter Crystal Jade Pavilion, the Michelin-recognised brand's third fine-dining concept that allows you to enjoy refined Chinese fare against a scenic backdrop of Sentosa and the waterway. The roomy restaurant houses large tables and several private dining rooms perfect for family gatherings. Crystal Jade Pavilion's menu is composed of Chinese classics and dishes that aim to deliver on both flavour and aesthetic. Some dishes I'd personally head straight for include the Pan-fried Spanish Iberico Pork Chop with Sauce (S$18.80 per person) and the Steamed Cod Fish with Porcini Mushroom (S$28.80 per person) among many premium roasted meat and fresh seafood items. Albeit on the pricier end of restaurants within VivoCity, you can count on Crystal Jade Pavilion for some quiet respite from the bustling outside. Order Delivery: foodpanda Deliveroo +65 9177 2005 Mon to Fri: 11am – 3pm & 6pm – 10pm Sat & Sun: 10.30am – 3.30pm & 6pm – 10pm Facebook | Instagram | Website 9. Le Shrimp Ramen (#B2-25) Japanese ramen broth meets Chinese la mian at Le Shrimp Ramen. Diners will fall into 2 categories here: fans of the tonkotsu broth and fans of the shrimp broth. The former is rich and creamy from hours upon hours of simmering pork bones, which results in a collagen-rich bowl. The orange-coloured shrimp broth is perfect for the seafood lover in you— it contains fresh tiger prawns simmered for hours with pork bones and a blend of Chinese spices. You can't go without trying the Le Signature Trio Shrimp Ramen (S$18.90) with 3 types of shrimp toppings: fresh big prawns, handmade ebiko prawn paste and some juicy prawn dumplings. The luscious broth is said to have a pronounced wok hei that's not to be missed out on. Want a spicy kick? The Prawn Dumpling with Chilli Vinaigrette Ramen (S$13.50) will likely give you the infusion of heat you crave. Tonkotsu fans can opt for the Chef-recommended Fish Fillet with Pickled Vegetable Tonkotsu Ramen (S$16.50) or a simple yet comforting bowl of Prawn Dumpling Tonkotsu Ramen (S$14.60). Order Delivery: foodpanda Deliveroo Mon to Fri: 11am – 10pm Sat & Sun: 10.30am – 10pm Facebook | Website For a list of locations, contact numbers and opening hours, click here. 10. Alijiang (#03-11) Its camel logo may be the giveaway but Alijiang is inspired by the journeys on the Silk Road that countless unnamed tradesmen plied for centuries. The unique fare here takes the best of the culinary traditions of the vast path and presents it in a sophisticated restaurant. Grab some appetisers like the unique Alijiang Grilled Lamb in Cage (S$50 per portion) or a good ol' plate of Lamb Skewers (S$9 for 2, min. 2 pieces). The nicely charred lamb is said to be well-seasoned and rid of any unpleasant gamey-ness. If you don't know what else to get, our recommendations are the Stir-fried Beef with Chili in (from S$18.80), Roast Lamb Chop (from S$43.80) and Cold beef with Parmesan cheese (S$33.80). It's easy to overspend at Alijiang, but you're in luck if you're dining in a pair or a group as the restaurant offers an Executive Set Menu. Set Menu A for 2 (S$38.80) consists of an assorted Cold Platter, Lamb Soup, GongBao Chicken, Rice, and even a dessert of your choice. There are Set Menus for groups of 4, 6 and even 10, too. Order Delivery: foodpanda Deliveroo +65 6252 4979 Daily: 11am – 3pm & 5.30pm – 10pm Facebook | Instagram | Website 11 cafes & eateries along Kampong Bahru Road for a relaxing & delicious escape while in Outram Park The post 10 best places to eat in VivoCity for a foodie's day out appeared first on
Business Times
06-08-2025
- Business
- Business Times
Growing value across markets
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. 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
Straits Times
03-07-2025
- Straits Times
Duped by fake VivoCity post, man pays $95 cash on delivery for G-Shock that turns out to be counterfeit
Duped by fake VivoCity post, man pays $95 cash on delivery for G-Shock that turns out to be counterfeit A man was duped by a fake VivoCity social media post into ordering a Casio G-Shock watch from a fake Casio website and paying $95 cash on delivery. The watch also turned out to be fake. Stomper Daniel wants to let others know so they don't fall for it too. "I was scammed by this advertisement on Facebook about a G-Shock watch," said the Stomper. The Facebook post appeared to be by VivoCity Singapore. The post read: "So angry I just queued nearly four hours at VivoCity to buy the Casio G-Shock GM-2100-1A at a crazy 70 per cent discount - from S$319 down to just S$95! "I've been a longtime G-Shock fan, and when I heard Casio was opening their very first official store at VivoCity Singapore, I rushed over right away. I never expected the crowd to be so intense - the line stretched like it was a concert. People were pushing, arguing, and security even had to step in. "What made it worse? Right after I paid, the staff announced that the promotion was also available online because the store couldn't handle the overwhelming number of people. If only I had known... I could've stayed home and ordered it in two minutes - with free islandwide shipping included! "To make up for the chaos, Casio officially issued an apology and extended the $95 deal to their online store. If you couldn't grab one at VivoCity, now's your chance - no queue, no hassle." The post included a link, which the Stomper clicked on and took him to what appeared to be an official Casio G-Shock online shop. To order the $95 watch, all he was required to do was input his name, address, phone number and email address. "I submitted those details, which I didn't think was harmful, and it didn't ask for my payment or card details," noted the Stomper. A few weeks later on June 20, he received a message from Ninja Van about a delivery. "I totally couldn't remember what the delivery was for," recounted the Stomper. "As I was not at home, my wife checked with me whether I ordered anything as the Ninja Van worker was delivering a parcel and said it was a watch. I told my wife it was probably the watch I saw on Facebook. The Ninja Van worker mentioned cash on delivery of $95 and I paid for it." When the Stomper saw the watch, he confirmed it was a counterfeit. PHOTOS: STOMP "I compared it with the original watch on YouTube and official G-Shock web page," said the Stomper. "It is not the same." VivoCity Singapore - the real one - has since warned Facebook users about fake accounts, although perhaps a little too late for the Stomper. However, as early as March 17, a YouTuber who calls himself The G-Shock Watcher had posted a video about the scam. Fortunately for the Stomper, he said on July 1 that after contacting Ninja Van, he received an email from Ninja Van agreeing to refund his payment. So he may get his $95 back after all. Click here to contribute a story or submit it to our WhatsApp Get more of Stomp's latest updates by following us on:
Time Out
01-07-2025
- Entertainment
- Time Out
SkillsFuture Festival returns with over 100 events to help you upskill and stay ahead
10 years in, and the SkillsFuture movement is still going strong with more Singaporeans taking a closer look at their skills and careers to stay ahead. This year's festival brings over 100 exciting events islandwide to help you explore what's next – whether you're eyeing a new job, picking up something new, or simply figuring out your next move. Running from July 7 to August 18, this six-week festival packs in hands-on workshops, immersive learning journeys, industry talks, and job fairs islandwide. It kicks off with the SkillsFuture Roadshow at VivoCity (July 10 to 13), where you can get practical career tools, explore courses with enhanced subsidies, and participate in on-site career and skills consultations offering personalised advice. Curious about how AI is changing your job? Navigate the digital future with Skills Ignited: The AI & Digital Security Roadshow (July 17 to 20), co-hosted by Microsoft, at Suntec. Expect exclusive insights into emerging job trends and opportunities from leading tech companies. Tech-savvy types should head to the Singapore Management University (SMU) for Unlocking Opportunities in Cybersecurity (July 18 and 19) – think hands-on learning, expert talks, and even on-site hiring opportunities. Meanwhile, if you've ever considered a career in healthcare or early childhood education, swing by the Care Economy Jobs and Skills Fair (July 25 to 27) at Toa Payoh Hub (July 25 to 27) for a closer look into these rewarding and fast-growing sectors. SFF@CDC events (July 16 to August 16) are also popping up across the heartlands, bringing SkillsFuture support closer to home. Expect practical tips on mid-career reskilling and easy-to-understand guidance on the latest national schemes available. And here's a hot tip for the office crowd: the final SkillsFuture Roadshow (August 12 to 15) at UOB Plaza Atrium is designed for the busy bees in the CBD. It's a one-stop-shop for quick career tips, training support info and advice on trending upskilling courses – ideal if you're considering a career switch or just want to future-proof your current one.
