About MCT

Corporate Profile

Mapletree Commercial Trust (“MCT”) is a Singapore-focused real estate investment trust (“REIT”) established with the principal investment objective of investing on a long-term basis, directly or indirectly, in a diversified portfolio of income-producing real estate used primarily for office and/or retail purposes, whether wholly or partially, as well as real estate-related assets.

MCT was listed on the Singapore Exchange Securities Trading Limited (“SGX-ST”) on 27 April 2011 and is the third REIT sponsored by Mapletree Investments Pte Ltd (“MIPL” or the “Sponsor”), a leading real estate development, investment and capital management company headquartered in Singapore.

 As at 1 November 2019, MCT’s portfolio comprised five properties in Singapore – four located in the Greater Southern Waterfront (HarbourFront and Alexandra Precincts) and one in the Central Business District (“CBD”), namely:

  • VivoCity, Singapore’s largest mall, located in the HarbourFront Precinct;
  • Mapletree Business City (“MBC”), a large-scale integrated office and business park and retail complex with Grade A building specifications, located in the Alexandra Precinct;
  • PSA Building, an established integrated development with a 40-storey office block and a three-storey retail centre known as the Alexandra Retail Centre (“ARC”), located in the Alexandra Precinct;
  • Mapletree Anson, a 19-storey premium office building located in Singapore’s CBD; and
  • Bank of America Merrill Lynch HarbourFront (“MLHF”), a premium office building located in the HarbourFront Precinct

The portfolio has a total Net Lettable Area (“NLA”) of 5.0 million square feet, valued at S$8,900 million*. 

MCT is managed by Mapletree Commercial Trust Management Ltd. (“MCTM” or the “Manager”), a wholly-owned subsidiary of MIPL. The Manager aims to provide unitholders of MCT (“Unitholders”) with a relatively attractive rate of return on their investment through regular and steady distributions, and to achieve long-term stability in Distribution per Unit (“DPU”) and Net Asset Value (“NAV”) per Unit, while maintaining an appropriate capital structure for MCT.

* Based on the independently appraised values by Savills Valuation and Professional Services (S) Pte. Ltd. and CBRE Pte Ltd as at 31 August 2019 and the agreed property value of Mapletree Business City (Phase 2) and the Common Premises as disclosed in MCT’s announcement dated 27 September 2019.


 

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