Key Facts
Adding value to real estate
Mapletree India China Fund

  • Fund objective was to maximise total return by investing in a balanced portfolio of completed properties with value enhancement potential and development projects in China and India
  • Focusing on commercial & mixed-use projects
    • Tier 1 & 2 cities in China
    • Tier 1 cities in India
  • Fund was fully committed and fully invested portfolio comprising 7 assets (6 in China & 1 in India)
  • Fund was fully realised in April 2020

Mapletree India China Fund (MIC Fund) was a dual-country total return fund established to maximise returns by acquiring, developing and realising real estate projects in India and China. The fund primarily invests in commercial, residential and mixed-use property developments projects in Tier 1 and 2 cities to harness the urbanisation trend and the increasing consumption of the growing middle class in India and China.

MIC Fund was another platform through which the Group had utilised its proprietary in house development, investment and asset management functions to extract real estate values in development and investment projects. Mapletree was able to replicate its expertise in the development of mixed-use properties in China, with the development of Future City in Xi’an, and Nanhai Business City development in Foshan, Guangdong province.

MIC Fund raised a total of US$1.2 billion in committed capital in its second and final close in August 2008. The fund is fully committed to projects in advance of the expiry of the investment period in April 2013.

Mapletree was the sponsor of MIC Fund, with an interest of approximately 43% in the fund. MIC Fund was managed by Mapletree Real Estate Advisors Pte. Ltd. (MREAL), a wholly-owned subsidiary of Mapletree.

MIC Fund was fully realised in April 2020.

Fund Overview
Fund Type Close-ended Private Fund
Legal structure Cayman Incorporated
Vintage April 2008
Asset Class Office, Retail, Residential, Mixed-use
Investment Universe China, India
Fund Life 11 years
Fund Size (US$ mn) 1,158
Mapletree Stake 43%