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By Nikki De Guzman:
Mapletree Investments through its wholly-owned unit Mapletree Greater China Commercial Trust Management Limited has lodged a preliminary prospectus for its planned IPO of Singapore-based REIT – Mapletree Greater China Commercial Trust (MGCCT).
The REIT will allow the company to invest into a diversified portfolio of income-generating Greater China properties, mainly for commercial use and other real estate-related assets.
The assets include Festival Walk, a retail and lifestyle development with an office component located in Kowloon Tong, Hong Kong. With a gross floor area (GFA) of 1.2 million sq ft, the property comprises a seven-storey mall, four-storey office tower and three levels of underground carpark.
The other property called Gateway Plaza in Beijing has a GFA of 1.1 million sq ft and comprises a Grade A office building of two 25-storey towers linked by a three-storey atrium and three levels of underground carpark.
“A prospectus in relation to the initial public offering of units in MGCCT will be made available when it is duly registered and an offering of units in MGCCT is made, and anyone wishing to acquire units will have to make an application in the manner set out in the prospectus,” Mapletree Investments said in a statement.
Nikki De Guzman, Junior Reporter at PropertyGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg
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