Mapletree Industrial Trust to divest up to S$600 million of assets over next two years

[SINGAPORE] The manager of Mapletree Industrial Trust (MIT) plans to divest between S$500 million and S$600 million worth of assets over the next two years, with a focus on its North American portfolio.

For a start, the trust intends to divest up to S$200 million of assets in FY2025, said Lily Ler, chief executive officer of MIT’s manager. She was speaking at the trust’s second-quarter financial results briefing on Thursday (Oct 30).

Ler said the manager’s divestment approach would depend on which option provides the “best value”. In response to a question on whether the manager intends to divest its North American assets as a group, she noted: “The moment you group (the assets) up, it becomes pretty sizeable. So it may not be that easy to sell.”