Deals
Mapletree Eyes $7 Billion of Deals a Year as More Funds Planned
- Acquisitions to be funded by selling existing assets, CEO says
- Firm may list two REITs of ‘sweet spot’ size of S$2 billion
This article is for subscribers only.
Mapletree Investments Pte may strike up to S$10 billion ($7.3 billion) of deals annually buying and selling properties as it seeks to set up more private funds over the next five years.
The company prefers to raise funds for acquisitions by selling assets, rather than through bank loans or issuing bonds, Group Chief Executive Officer Hiew Yoon Khong said in an interview. Mapletree is also looking at listing two real estate investment trusts that could be backed by overseas assets in student accommodation and logistics in the next four-to-five years, with a “sweet spot” for each IPO of about S$2 billion, he said.