January
Construction has started for Inzai Logistics Centre, a joint development between Mapletree and ITOCHU. Scheduled to be completed by March 2018, this five-storey building in Chiba Prefecture, Japan, will have a total GFA of 110,923 sqm.
Mapletree issued S$625 million principal amount of 4.50% perpetual securities pursuant to its US$5 billion Euro Medium Term Note Programme. This was the first public Singapore-dollar debt capital market transaction and also the first public Asian hybrid issuance of 2017.
Mapletree’s South China Singapore City International Education Zone, a part of Nanhai Business City Phase 4, was officially opened by guest of honour Mr Teo Ser Luck, Singapore’s Minister of State for Manpower.
February
Mapletree acquired Oakwood Worldwide to strengthen its corporate housing and serviced apartment business. The acquisition covers all of Oakwood’s global operations with former Oakwood Worldwide executive Christopher Ahearn helming the business as Chief Executive Officer.
Mapletree opened its retail centre for 18 Tai Seng in Singapore, achieving committed occupancy of 93% for the retail space. The nine-storey mixed-use development, comprising retail, Business 2 and office components, obtained its TOP in November 2016.
Mapletree celebrated the groundbreaking of Mapletree Chengdu Qingbaijiang Logistics Park in China. Comprising six blocks of single-storey warehouses and two blocks of double-storey ramp-up warehouses, the property is strategically located at the junction of the Specialised Cargo Highway and Beijing-Kunming Expressway.
MJLD acquired a portfolio of three build-to-suit logistics assets, namely Odawara Centre 1, Odawara Centre 2 and Joso Centre, for JPY43.09 million (~S$541,332) from Mapletree. Strategically located in the Kanto region of Japan, the portfolio is 100% occupied by blue-chip tenants.
March
Mapletree Industrial Trust announced the development of its third data centre – a six-storey purpose-built data centre with a GFA of about 242,000 sq ft. Located in the West region of Singapore, this build-to-suit project is expected to be completed in the second half of 2018, and will be fully leased to an established data centre operator for an initial lease term of more than 10 years with staggered rental escalations.
MJLD acquired a site in Kobe, Japan, to be developed as a four-storey multi-tenanted logistics facility with a total GFA of 86,604 sqm. Construction is expected to commence in January 2018 and be completed in the first half of 2019.
Mapletree held its inaugural Mapletree Education Award (EduAward) Presentation Ceremony in Singapore to recognise the academic achievements of its employees’ children. The EduAwards comprise cash awards ranging from S$150 to S$500 and are presented twice a year, with the first batch of 41 awards given out this month.
Mapletree organised the first Mapletree Futsal Challenge as a charity fundraiser, in partnership with Mapletree Business City tenants. All proceeds went to programmes for children and youths from less privileged backgrounds. This is an extension of the company’s corporate social responsibility outreach in August 2016.
Green Park provided venue sponsorship for the annual Reading Half Marathon, whose official charity for 2017 was Cancer Research UK. More than 10,000 runners participated in the 13.1-mile race which started off at Green Park before going around the town of Reading.
Mapletree successfully raised equity of US$535 million (~S$746.2 million) for Mapletree Global Student Accommodation Private Trust (MGSA P-Trust) – the first Trust in Singapore focusing on this resilient and strong-yielding sector. The Trust currently holds about US$1.3 billion (~S$1.8 billion) in student accommodation assets located in the UK and the US, and has a term of five years (with provision for a one-year extension).
Mapletree Business Centre in Ho Chi Minh City, Vietnam, was officially opened by Mr Lee Hsien Loong, Prime Minister of Singapore. Designed to international Grade A specifications, this is Mapletree’s first office development in the country and represents the completion of Saigon South Place Phase 2.
The construction of Oakwood Apartments Azabudai, a 48-unit serviced apartment development in Tokyo, Japan, was completed. Opened in May 2017, it is managed by Oakwood under the Oakwood Apartments brand.
King's Place, the residential development in Nanhai Business City Phase 4, had sold all of its units from Phase 1 (except show flats) since the first sales launch in November 2015.
May
Mapletree issued S$700 million principal amount of 3.95% perpetual securities pursuant to its US$5 billion Euro Medium Term Note Programme. This was the largest Singapore dollar-denominated perpetual issuance in the year, following the issuance of S$625 million principal amount of 4.5% perpetual securities earlier in January 2017.
Japan-focused office fund MJOF acquired Shinagawa Seaside South Tower, a 17-storey building with one basement level. Located in Tokyo, Japan, the property has a total GFA of 51,200 sqm and is well-served by public transportation networks.
Oakwood Worldwide (Oakwood), a wholly owned subsidiary of Mapletree, opened Oakwood Apartments Azabudai, Tokyo, in Japan, following the opening of Oakwood Olympic & Olive in Los Angeles, the US in April 2017. These are the ninth and tenth assets developed by Mapletree.
Further enhancing its significant position in the student accommodation sector, Mapletree acquired eight student accommodation assets with 3,611 beds in the US and 140 beds in Canada, as well as four multi-family assets with 1,388 units across three states in the US.
Mapletree opened its flagship brand “VivoCity” in Shanghai to expand into China’s commercial real estate sector. The five-storey mall spans a total GFA of 120,000 sqm and features more than 280 shops including brands which are new to Shanghai.
June
Mapletree Business Centre, a 17-storey office building within Saigon South Place in Ho Chi Minh City, was awarded Best Office Development and Best Office Architectural Design at the PropertyGuru Vietnam Property Awards 2017. It has since reached full occupancy, securing large international tenants such as Standard Chartered Bank and Grab.
Mapletree Industrial Trust (MIT) completed its largest build-to-suit development for HP Singapore at 1 and 1A Depot Close. This was MIT’s first redevelopment project of a Flatted Factory Cluster into a purpose-built facility, comprising two Hi-Tech Buildings with a total GFA of over 76,600 sqm.
Mapletree made its first investment in Melbourne, Australia, with the acquisition of 417 St Kilda Road. The nine-storey Grade A office building has a total NLA of 20,135 sqm.
July
Mapletree continued to actively build its presence in the UK with the acquisition of The Maltings, a 779-bed student accommodation facility in Colchester.
As part of Mapletree’s CSR efforts to support education, a three-day “Home & Away with Mapletree” event was held at VivoCity Singapore to give away more than 500 fleece jackets to Singaporeans and Permanent Residents pursuing tertiary education in the UK.
August
Kumho Asiana Plaza was rebranded as mPlaza Saigon under the Group’s plan to rejuvenate the property following its acquisition in 2016. AEIs began with works to revamp common areas in the retail podium.The mixed-use development in Vietnam has also achieved record occupancy and average daily room rates.
Mapletree continued to support the network outreach of Alibaba Group’s logistics affiliate, as the latter expanded operations at Mapletree’s logistics development in Hangzhou, China, with a new lease of 24,893 sqm of NLA, in addition to the 51,368 sqm contracted in 2016. In July 2017, a total NLA of 105,241 sqm was committed on Mapletree’s logistics developments in Nanchang, Xiaogan and Changsha to enhance the tenant’s distribution network in Jiangxi, Hubei and Hunan provinces.
September
Mapletree signed an agreement with a leading express delivery service provider in China on the lease of a customised high quality, single-storey warehouse of NLA 25,320 sqm at Nanchang. Subsequently, an additional lease of 5,145 sqm was affirmed with the tenant’s subsidiary to support its supply chain business in the area.
Mapletree Logistics Trust issued S$180 million in aggregate principal amount of 3.65% fixed rate perpetual securities under its S$3 billion Euro Medium Term Securities Programme.
Mapletree Industrial Trust expanded its investment strategy to include real estate and real estate-related assets used primarily as data centres worldwide beyond Singapore, demonstrating its focus on growing the Hi-Tech Buildings segment.
October
Mapletree, in collaboration with Nanyang Technological University (NTU), launched the “Mapletree-NTU Centre for Contemporary Art Singapore (NTU CCA Singapore) Public Art Education Programme”, underlining the Group’s commitment to art. A series of new public installations and art education programmes, including guided tours, artist talks and workshops, will be developed at Mapletree Business City.
As part of the Public Art Education Programme, Mapletree and NTU CCA Singapore co-presented “Discursive Picnic” at Mapletree Business City II during Archifest 2017, a public festival to celebrate Singapore’s architecture and the built environment. Participants went on an art trail to experience art in daily environments, and deepen their appreciation for the arts.
Mapletree completed the divestment of Mapletree Logistics Hub Tsing Yi to Mapletree Logistics Trust for HK$4.8 billion (~S$834.8 million). An 11-storey ramp-up Grade A logistics facility with a total GFA of 120,550 sqm, this was the first logistics property developed by Mapletree in Hong Kong SAR.
The second phase of Global Technology Park in India obtained its Occupancy Certificate two months ahead of schedule. Comprising two 12-storey office towers with a basement level, it has a total NLA of 68,179 sqm.
November
Mapletree hosted more than 200 international delegates from the Annual Conference for the International Committee for Museums and Collections of Modern Art at Mapletree Business City II (MBC II). Special art tours were organised for the delegates to view the art installations at MBC II.
Mapletree extended financial support of more than S$69,000 to 11 youths from three local voluntary welfare organisations under the Mapletree Youth Resilience Programme. The number of beneficiaries has doubled since the programme was launched in 2016.
RichLane Residences and Oakwood Residence Saigon, the residential and serviced apartment components of Saigon South Place, received the Certificate of Completion. The former is a high-rise tower with 243 units while the latter is developed by Mapletree with 237 units that officially opened in April 2018.
In conjunction with the 10th anniversary of Saigon Co.op Investment Development Joint Stock Company, Mapletree’s joint venture partner for SC VivoCity, Mapletree and its subsidiary Vietnam Management and Consultancy Co Ltd donated VND702 million (~S$41,000) to sponsor health insurance for 1,800 people from underprivileged communities in Ho Chi Minh City, Vietnam. The sponsored health insurance card covers at least 80% of all medical expenses for 12 months.
In Singapore, Mapletree successfully conducted the Mapletree Youth Futsal Camp 2017 at the Mapletree Business City futsal courts, where 21 youths aged between 13 and 18 learnt basic futsal techniques and engaged in friendly matches. Aligned to Mapletree’s support for youths-at-risk, the futsal camp kick-started the school holidays for youths from YouthReach (an affiliate of Boys’ Town) and Beyond Social Services as well as children of employees and tenants.
December
Mapletree acquired TF Nishidai Building in Tokyo, Japan. Spanning a total GFA of 22,792 sqm, the six-storey office building enjoys easy access to the CBD.
Mapletree and Mapletree Industrial Trust (MIT) completed the acquisition of a portfolio of 14 data centres in the US through an unlisted single purpose trust, Mapletree Redwood Data Centre Trust (MRDCT), at a purchase consideration of approximately US$750 million (~S$1,020 million). The portfolio is anchored by long leases with high-quality tenants from a diverse range of industries. Under the joint venture agreement, Mapletree holds a 60% interest in MRDCT, while MIT holds the remaining 40%.
Mapletree acquired its first office property in the US. Located in the CBD of Minneapolis, Minnesota, 50 South Sixth is a 29-storey building with a total NLA of 64,903 sqm, of which 3,107 sqm is retail space.
|