AIA Singapore has disposed off 612,300 units of mixed office and retail REIT, Mapletree Commercial Trust.

The units were disposed off by the subsidiary of insurance giant AIA Group Limited via a market transaction on 21 September.

Units of the REIT were sold for a total consideration of SGD962,964 (USD707,000), which translates to about SGD1.57 received per unit.

After the disposal, AIA Singapore now holds on to about 122 million units of Mapletree Commercial Trust, held through Citibank Nominees Singapore.

Its parent company, AIA Group Limited, now has a deemed interest 171.7 million units, representing a stake of 5.98% in the REIT, down from 6% previously.

Besides AIA Singapore, the insurance group’s deemed interest in Mapletree Commercial Trust are also held by its branch in Brunei and AIA International Limited, both of which hold 307,992 units, and 49,328,721 units of the REIT respectively.

Units of Mapletree Commercial Trust finished the trading day about 2% higher from its previous close on the Singapore Exchange to end at SGD1.58.