SINGAPORE (June 17): Mapletree Investments may strike up to $10 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 $2 billion, he said.
Mapletree, which is owned by Singapore’s state investor Temasek Holdings, currently manages four Singapore-listed REITs and six private real estate funds. Hiew aims to increase assets managed to $90 billion within the next five years, with the company planning to stick to existing asset classes rather than look to new ones. Mapletree owned and managed $55.7 billion of properties as of March 31.
