Mapletree Investments, a property developer and manager, is exploring listing a student housing real estate investment trust in Singapore that could raise about US$1 billion, according to people familiar with the matter.

The company, which is owned by Singapore’s state investment fund Temasek Holdings, is in preliminary discussions with prospective advisers on the offering plan, said the people. An initial public offering could take place as soon as next year, one of the people said, who asked not to be identified as the information is private.

Any deal would add to the US$5.6 billion of property trust IPOs in Singapore over the last five years, data compiled by Bloomberg show. At US$1 billion, it would be the country’s biggest REIT listing since 2013 when Mapletree North Asia Commercial Trust raised US$1.4 billion, the data show.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook