This is a discussion on Want a piece of Vivocity? within the Local & Foreign Issues forum, part of the Community Lounge category; INVESTORS may be able to own a slice of Vivocity - Singapore's largest mall - by the middle of next ...
INVESTORS may be able to own a slice of Vivocity - Singapore's largest mall - by the middle of next year, according to Mapletree Investments chief financial officer Wong Mun Hoong on Tuesday.
Mr Wong told a briefing that the firm is planning to list a commercial real estate investment trust (Reit) that will raise at least $500 million.
Called Mapletree Commercial Trust, it could hold about $3 billion to $4 billion of commercial properties - anchored by Vivocity Mall, which is valued at $2 billion.
It could also include other commercial properties owned by Mapletree Investments, such as Merrill Lynch HarbourFront, the PSA Building, and Mapletree Business City. The reit will be listed by the first half of next year, if market conditions are good.
The news comes as the initial public offering (IPO) of Mapletree Industrial Trust (MIT), which will raise gross proceeds of $1.19 billion, was launched on Tuesday.
But Mapletree Investments, the property firm owned by Temasek Holdings, is already gunning for another big issue in the form of the commercial reit.
Want a piece of Vivocity?