Mapletree Industrial Trust - UOB Kay Hian 2024-10-03: Further Expansion In Japan With Potential For Redevelopment

Mapletree Industrial Trust - Further Expansion In Japan With Potential For Redevelopment

Published:
Mapletree Industrial Trust (SGX:ME8U) | SGinvestors.io
  • Mapletree Industrial Trust (SGX:ME8U) has entered into a sale & purchase agreement to acquire an effective interest of 98.47% in a mixed-use facility in West Tokyo, Japan for ¥14.5b (S$129.8m), which represents a discount of 3.3% to the independent valuation of ¥15.0b.

Continuing to enlarge scale in Japan.

  • - Read this at SGinvestors.io -
  • back office and training facilities (48%), and
  • an adjacent accommodation wing (24%).
  • Mapletree Industrial Trust’s exposure to Japan is expected to increase from 5.1% to 6.4% of AUM after the acquisition.

West Tokyo is a key data centre hub within Greater Tokyo.

  • The property sits on a 91,200sf freehold site within a network-dense location at Tama-shi, West Tokyo and has a gross floor area (GFA) of 319,300sf.
  • - Read this at SGinvestors.io -

A rare opportunity for redevelopment in land-scarce Tokyo.

  • According to DC Byte, demand for data centre space in Greater Tokyo is projected to grow at a CAGR of 9.3% from 2023 to 2033. Take-up for data centre space is driven by cloud service providers through wholesale colocation and build-to-suit projects. Vacancy rate in West Tokyo has compressed from 23% in 2018 to 9% in 2023 due to strong demand and limited supply.
  • There is limited opportunity for developing new data centre(s) due to constraints of land and power. Vacancy rate is expected to tighten further to 6% by 2033.

Potential to enhance yield through redevelopment.

  • Read more at SGinvestors.io.



Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.



Jonathan KOH CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-10-03



Read also UOB's most recent report:
2025-02-12 Mapletree Industrial Trust - Weathering The Bumpy Ride.

Previous report by UOB:
2025-01-24 Mapletree Industrial Trust - Average Rents Inching Higher In Both Singapore & The US.

Price targets by other brokers at Mapletree Industrial Trust Target Prices.

Listing of research reports at Mapletree Industrial Trust Analyst Reports.

Relevant links:
Mapletree Industrial Trust Share Price History,
Mapletree Industrial Trust Announcements,
Mapletree Industrial Trust Dividend Payout Dates & Corporate Actions,
Mapletree Industrial Trust News






Advertisement

You May Also Like



SGX Stock / REIT Search

Advertisement

Most Read

Trust Bank Referral Code

Advertisement