With more than 20 years of experience in the real estate industry, Mr Ralph van der Beek, Chief Executive Officer, Commercial and Logistics, Europe, Mapletree, shares insights on the opportunities in Europe’s evolving real estate landscape and how Mapletree is positioning itself for long-term growth.
Mapletree recently acquired two logistics assets in the Netherlands. What makes the Dutch market attractive?
The Dutch logistics sector is a resilient market underpinned by strong fundamentals, supported by the continued growth of e-commerce, supply chain optimisation and the Netherlands’ role as a key gateway to major European markets. The acquired assets are strategically located within
established logistics corridors with strong connectivity to support both national and international distribution activities.
They also align with occupiers’ growing demand for modern, sustainable and energy-efficient logistics facilities. For example, Oosterhout DC1 in Oosterhout (Gelderland), the Netherlands, offers flexible provisions on request for electric vehicle charging points, water treatment plants, green roofs
and green walls.
How do these acquisitions fit into your broader European growth strategy?
Our latest acquisitions are aligned with the Group’s strategy to deepen its presence in logistics, one of Mapletree’s core sectors. The assets enhance the Europe portfolio with well-located, customer-centric facilities that support tenants’ operational needs and long-term growth.
We will continue to strengthen our foothold in this region by actively pursuing similar investment and development opportunities, particularly in Western Europe and the United Kingdom (UK), to deliver long-term, sustainable value to our stakeholders.
Mapletree is also proactively looking at grid capacity and energy resilience as part of future-proofing its logistics assets, while focusing on customer partnerships to support their business requirements.
The European portfolio in Mapletree US & EU Logistics Private Trust (MUSEL) has achieved rental reversion of 21.4% in FY25/26, more than double the average since the fund’s inception (10.1%). Does this reflect the strength of demand for logistics space in Europe?
This achievement reflects a combination of favourable mark-to-market rental growth and the Group’s proactive asset management approach. While demand for well-located, high-quality logistics space in Europe remains resilient, our ability to maintain strong tenant relationships and engage occupiers ahead of lease expiries has been a key driver of performance. In FY25/26, MUSEL EU completed 50 leases covering approximately 450,000 square metres (sqm), bringing total leasing activity since fund inception to 2.8 million sqm.
Looking ahead, where do you see the biggest opportunities for growth in Europe?
As economic conditions across Europe and the UK stabilise and investment sentiment improves, we see opportunities emerging from both the logistics and office sectors. Renewed institutional interest and a recovery in smaller portfolio transactions in Europe allow for an increasingly
constructive environment for investment.
In the office sector, demand continues to be concentrated in Grade A, energy-efficient buildings in prime locations. These assets remain well-positioned to benefit from constrained supply and continued occupier demand, supporting rental growth. In logistics, while occupier demand has moderated in some markets, we are confident in its demand, which continues to demonstrate resilience and long-term potential.
Our focus will remain on disciplined capital allocation and active asset management to strengthen the performance of the European portfolio.
With Mapletree’s HQ in Singapore, presence in eight European markets and close to 90 assets across the region, how do you manage the business effectively across different time zones?
Managing the business across various markets and time zones ultimately comes down to having the right people, processes and platform in place. Mapletree has built a strong local presence in each of the markets where we operate, supported by experienced teams with deep market knowledge and strong relationships on the ground. Our teams also work closely across geographies, combining local insights with global perspectives.
