DBS maintains ‘Buy’ on Mapletree industrial REIT after mandate expansion

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DBS Investment Research has issued a ‘Buy’ rating on Singapore-listed Mapletree Industrial Trust, citing potential for growth given the REIT’s now larger investable universe.

Mapletree Industrial Trust announced on 26 September that its investment mandate will now expand to include real estate assets used primarily as data centres worldwide, beyond Singapore.

The REIT currently has a portfolio of 86 properties in Singapore valued at approximately SGD3.77 billion as at 30 June 2017.

These include business park buildings, light industrial buildings, and flatted factories.

The mandate to now include overseas properties will be effective from 26 October 2017, and the REIT has named a number of countries, including Australia, Hong Kong, Japan, France and the United States, as expansion targets.

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About Author

Ridzwan Rahmat has been analysing Singapore-listed REITs and business trusts, since 2008. For disclosure purposes, Ridzwan is currently vested in Mapletree Greater China Commercial Trust, Mapletree Industrial REIT and Mapletree Logistics Trust.

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