Singapore's Mapletree Industrial aims to cut debt with up to $465 million asset sale

Mapletree Industrial Trust

23/07/2026 14:13

    July 23 (Reuters) - Singapore's Mapletree Industrial Trust MAPI.SI plans to divest S$500 million to S$600 million ($387.21 million-$464.65 million) worth of assets spanning North America to pay off debt and invest in other projects, including data centres, the firm said on Thursday.
Here are some more details:
Mapletree Industrial, which owns factories and other industrial assets in Singapore, said it intends to use the proceeds from the disposal to cover debt repayments.
Total investment in North America is around $3 billion, as of March 31, 2026, the company's annual report showed.
The decision comes as the firm grapples with non-renewal of property leases in its North American portfolio, eroding rental income, a concern it aims to address through the divestitures.
Mapletree would also redeploy the capital into assets that can provide sustainable growth, it said in its statement.
The firm added that it would explore opportunities in both data centre and broader industrial sectors.
The company reported a lower net property income of S$122.3 million for the first quarter, compared with S$133.6 million from a year ago.
It also announced a distribution per unit of 3.11 Singapore cents per share.
In May, the real estate investment trust divested its Philadelphia data centre for $14.5 million to optimise capital allocation.
($1 = 1.2913 Singapore dollars)

(Reporting by Aamir Shaik Khalid in Bengaluru; Editing by Harikrishnan Nair)
((Aamir.SheikKhalid@thomsonreuters.com;))