SINGAPORE (Nov 13): Alarming news that a Christmas tree was set on fire at Festival Walk caused unit price in Mapletree North Asia Commercial Trust to fall. Festival Walk contributed $104.9 million or 61.7% to MNACT’s net property income of $169.8 million in 1HFY2020 the six months to Sept 30. On Nov 13, MNACT’s manager announced that the mall has been closed for operations since 2 pm on Nov 12 amid city-wide disruptions and the manager will update on developments. Since Nov 7, MNACT’s unit price is down 8%.

Sister real estate investment trust Mapletree Logistics Trust’s Hong Kong properties contributed 23.4% to 2QFY2020 (three months to Sept 30) gross revenue of $127.5 million. Logistics properties are not very visible.

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