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If completed, this could count as one of the largest acquisitions by a Singapore real estate investment trust (S-Reit) this year. S-Reits have in recent weeks been on an acquisition binge with billion-dollar purchases, amid a lower-for-longer interest rate environment.
MCT said on Friday that its trustee and a subsidiary, 80 Alexandra Pte Ltd, have entered into a conditional share purchase agreement for the proposed acquisition of the property through the purchase of shares of Mapletree Business City Pte Ltd. The property comprises Mapletree Business City (Phase 2) (MBC II) located at 40, 50, 60, 70 and 80 Pasir Panjang Road in Singapore, as well as the common premises at 10, 20 and 30 Pasir Panjang Road.
The most important Real Estate news in Singapore
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- Raffles Education to sell New South Wales property for $74.7 mil
- Ascott acquires $192 mil freehold property in Sydney through global fund with QIA
- Uni-Asia's Tokyo residential property business an overlooked gem: KGI Research
- Bishan Park Condo up for collective sale with S$680m-S$688m guide price
Latest news from the Asian Property market
- Taiwanese company to invest $170 million in Kendal Industrial Park
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- Property developers need legal certainty more than IMB abolishment
- OrangeTee & Tie And CBD Properties Signs MOU
- Lake City Setting A New Standard Of Holistic Living
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Agent.sg's Daily Property News Selection brings you the most important property market news in and around Singapore. We list the best articles on real estate development, property investment and on the property listing market on a daily basis - whoever stays out, misses out.
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