- Business
- Mapletree Logistics Trust (MLT) is Singapore's first Asia Pacific-focused logistics real estate investment trust, listed on the Singapore Exchange Securities Trading Limited in 2005 and managed by Mapletree Logistics Trust Management Ltd., with headquarters at 10 Pasir Panjang Road, #13-01 Mapletree Business City, Singapore 117438. MLT owns a diversified portfolio of approximately 175 income-producing logistics properties, including modern warehouses, distribution centers, and logistics parks totaling 8.3 million square meters of quality logistics space across 63 cities in nine key markets: Singapore (47 properties), China (42 properties), Japan (22 properties), South Korea (21 properties), Australia (14 properties), Vietnam (12 properties), Malaysia (10 properties), Hong Kong SAR (9 properties), and India (3 properties); its assets under management stand at S$13.0 billion as of September 30, 2025, serving over 900 customers with strategically located, well-connected facilities optimized for e-commerce, supply chain, and distribution needs. The trust targets high-quality, yield-accretive logistics real estate and related assets, emphasizing organic growth through leasing, asset enhancements, capital recycling via divestments, and selective acquisitions to deliver competitive total returns to unitholders.
MLT's sponsor, Mapletree Investments Pte Ltd, a global real estate developer and manager headquartered in Singapore, oversees three listed REITs and nine private funds with S$80.3 billion in assets under management as of March 31, 2025, across 13 markets including Asia Pacific, Europe, the UK, and the US; MLT benefits from this platform for development expertise and market access.
In FY2024/25 and into FY2025/26, MLT executed 14 divestments totaling S$209 million across Singapore, Malaysia, Japan, and China, including Mapletree Logistics Centre – Yeoju in South Korea (sold at a 1.3% premium to valuation) and 1 Genting Lane and 31 Penjuru Lane in Singapore, with proceeds redeployed into portfolio rejuvenation; the trust completed acquisitions such as two grade-A logistics facilities in Vietnam (Mapletree Logistics Park 3 in Binh Duong and Hung Yen Logistics Park 1) and a warehouse in Malaysia for S$234 million combined, boosting Vietnam exposure by 21% to 70.4 hectares, alongside ongoing asset enhancement initiatives like commitments for 70% of lettable space at a new development ahead of its May 2025 TOP. Recent plans include proposed acquisitions of up to 10 modern logistics properties across Japan, Australia, South Korea, Malaysia, Vietnam, and China (such as 13 assets in China and two in Jiaxing), financed through debt and divestment gains like a potential Hong Kong sale, reflecting MLT's strategy to modernize its portfolio amid e-commerce growth and supply chain shifts in emerging Asia. Portfolio occupancy improved to 96.1% as of September 2025, with positive rental reversions of +2.1% overall (+2.8% excluding China), supported by reduced borrowing costs from interest rate management.