Singapore's Mapletree Investments has bought partner Oakwood Worldwide, the world's largest provider of corporate housing and serviced apartments. The acquisition of US-based Oakwood for an undisclosed sum is in line with Mapletree's strategy to expand outside of Asia. Mapletree first collaborated with Oakwood in 2014, when the two companies signed a $5 billion joint venture deal to open more than...
Mapletree Investments
Real estate development firm Mapletree Investments has reported a 7.5 per cent increase in revenue to S$1.6 billion for the year ended Mar 31 (FY14/15), it announced on Wednesday (May 20). Part of the increase was due to new income streams including its acquisitions during the year, higher contributions from its flagship development in Singapore - Mapletree Business City - and positive contributions...
Singapore property group Mapletree Investments is looking to expand into the United States and Europe amid a less certain outlook for its core Asian markets in the near future. "Over the last 12 months, we were concerned about the volatility that could arise across markets in Asia once the start of the QE tapering was made known," Group Chief Executive Officer Hiew Yoon Khong said in a statement...
Mapletree Investments and California-based Oakwood Worldwide have signed a multibillion-dollar deal to acquire and develop serviced apartments. Under the deal, Mapletree will acquire a 49 per cent stake in Oakwood Asia Pacific -- the United States firm's serviced apartment business in Asia -- for an undisclosed amount. The joint venture then aims to acquire and develop some US$4 billion (S$5 billion)...
Temasek-owned Mapletree Investments is planning to raise as much as S$1.6 billion in gross proceeds from a planned initial public offering of a Greater China-focused real estate investment trust (REIT). Scheduled to list on the Singapore Exchange on March 7, Mapletree Greater China Commercial Trust could potentially be Singapore's largest initial public offering in two years. In a preliminary prospectus...
Mapletree Investments has acquired a major retail and commercial complex in Hong Kong for HK$18.8 billion or about S$2.9 billion. Mapletree, a wholly-owned property arm of investment company Temasek Holdings, said it is buying Festival Walk - located in Kowloon Tong on the Kowloon peninsula - from Swire Properties. Festival Walk has a seven-storey shopping mall and a Grade-A office tower with a gross...
Mapletree Investments, a property arm of Singapore investment company Temasek Holdings, is in discussions to buy the Festival Walk retail complex in Hong Kong's Kowloon Tong district, the Sing Tao Daily reported yesterday, citing an unnamed person familiar with the matter. Sing Tao said Hong Kong conglomerate Swire Pacific may divest Festival Walk for HK$22 billion (S$3.5 billion). If successful, the sale...
Singapore investment firm Temasek Holdings and Malaysian sovereign wealth fund Khazanah Nasional will jointly develop prime land parcels in both countries into projects worth about S$12.2 billion. The two investment firms have established two subsidiaries - M+S Pte Ltd and Pulau Indah Ventures Sdn Bhd - for the purpose. Temasek has a 40 percent stake in M+S while Khazanah owns the remaining 60 percent...
Mapletree Investments has broken ground for its VivoCity Nanhai in Guangdong, China. The four-storey shopping mall is slated to open in 2014 and will have a gross floor area of more than 100,000 square metres. It is part of the proposed 42-hectare Nanhai Business City developed by Mapletree that will feature retail, residential, hotel and office components. Nanhai is where the cities of Foshan and...
Mapletree Investments, the real estate arm of Temasek Holdings, has said it hopes to list two real estate investment trusts (REITs) soon. One of them is an industrial REIT with S$1.73 billion in assets to be listed on the Singapore Exchange by the end of the year. These plans were revealed at the sidelines of Mapletree's results briefing on Wednesday. Mapletree Investments has seen its net profit surge...