Mapletree Industrial Trust Divests Tanglin Halt Cluster for S$50.6 Million, Aiming for Portfolio Optimization
Mapletree Industrial Trust (MIT) has strategically sold the Tanglin Halt Cluster for S$50.6 million, surpassing its book and independent valuations. This move, expected to be finalized in the first half of 2024, aligns with MIT’s goal of financial flexibility and portfolio rebalancing. The sale of the property, which contributes a modest 0.7% to MIT’s gross revenue, underscores a focus on divesting non-core assets to fund growth initiatives, reduce debt, or enhance unitholder distributions. Completion is anticipated in the first half of 2024.
For more detailed information, visit the official announcement.
