Mapletree

Mapletree expands in Vietnam with opening of new mall

Singapore-based real estate firm Mapletree has expanded into Vietnam’s retail property sector, with the official opening of its first shopping mall in Ho Chi Minh City on Sunday (Sep 20). SC VivoCity, jointly developed by Mapletree and Saigon Co Op Investment Development Joint Stock Company (SCID), has a gross floor area of 62,000 square metres. Retailers have taken up 84 per cent of the net lettable...

Mapletree revenue up 7.4% to S$1.6 billion for FY14/15

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...

Mapletree plans expansion into Europe and US

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 to launch three new property funds in China, Vietnam, Japan

Real estate firm Mapletree Investments said it plans to launch three property funds worth US$2 billion over the next few years. The funds will invest in commercial and mixed-use properties in China, Vietnam and Japan. Mapletree, the real estate arm of Temasek Holdings, also announced a 90 per cent increase in its profit after tax to S$747 million for the full year ended March 31, driven by higher rental...

Mapletree acquired industrial property in Japan

Mapletree Investments has acquired an industrial property IXINAL Monzen-Nakacho Building in Tokyo from Itochu Corp, Japan. The property is a five-storey light industrial building that is home to a corporate headquarters, information systems development and operations cum data centre. Mapletree did not disclose the amount it paid for the building. Completed in September 2009, this freehold property is...

Mapletree Investments signs MOU with Japan’s ITOCHU Corp

Mapletree Investments has signed a Memorandum of Understanding (MOU) on a joint venture with Japan's ITOCHU Corporation to undertake "Build-to-Suit" development projects for logistics tenants in Japan. The companies agreed to extend their collaboration on investment and development of logistics, retail, industrial and commercial real estate projects in Japan, Singapore and the rest of Asia. The extension...

40% of Mapletree Business City pre-leased ahead of mid-2010 completion

Mapletree Investments said it has pre-leased 40 per cent of the office space at its Mapletree Business City. Mapletree said it's talking to more potential clients who may take up another 15 per cent of space before the project is completed mid next year. Topping out the Mapletree Business City, the company already has another reason to celebrate. Fourth-tenths of some 1.7 million square feet of office...

Mapletree Industrial acquires industrial property in Tokyo

Singapore's Mapletree Industrial has acquired a property in Tokyo, Japan. Sun East Shinonome Building is Mapletree's first industrial property in Japan. The company, which invests in industrial real estate across Asia, said the acquisition has enabled it to diversify the fund's country portfolio. The Sun East Shinonome Building is a freehold light industrial building with a gross floor area of about...

Mapletree to defer cash distributions for at least two years

Mapletree Industrial Trust (MIT) is deferring cash distributions to investors for at least two years because of stricter covenants by banks. The trust revealed this on Friday in a bid to address tenants' demands for a reduction in rents. MIT said its interest costs have doubled to S$23 million with the current credit crunch. It revealed that its shareholders have provided an additional S$140 million in...

Mapletree, China firm to build apartments, retail mall in Guangdong

Mapletree Investment, the real estate branch of Singapore investment firm Temasek, has signed an agreement with China's Guangzhou Southern-Donald Technology to build seven blocks of high-end service apartments and a retail mall. Mapletree will hold 80 per cent of the US$320 million project. The development in Nanhai District of Foshan City, Guangdong Province, will be the third investment of the newly...

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