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Mapletree Commercial Trust cut to 'hold' despite bullish sentiment over MBC acquisition

Stanislaus Jude Chan
Stanislaus Jude Chan9/30/2019 01:20 PM GMT+08  • 3 min read
Mapletree Commercial Trust cut to 'hold' despite bullish sentiment over MBC acquisition
SINGAPORE (Sept 30): Analysts are bullish on Mapletree Commercial Trust (MCT), after the REIT announced Friday it is acquiring Mapletree Business City (Phase 2) for a total of $1.58 billion.
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SINGAPORE (Sept 30): Analysts are bullish on Mapletree Commercial Trust (MCT), after the REIT announced Friday it is acquiring Mapletree Business City (Phase 2) for a total of $1.58 billion.

Together with Mapletree Business City (Phase 1), which was acquired by the trustee in 2016, this will see MCT consolidate its ownership over the entire Mapletree Business City Development.

The accretive acquisition will see MCT dominate the 13.5-hectare Alexandra precinct, which lies just outside Singapore’s central business district in the Queenstown Planning Area.

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