Brokers take
Mapletree Commercial Trust | Buy Target price: S$1.62 Jan 26 close: S$1.505 DBS Group Research, Jan 26
WE believe MBC I (Mapletree Business City - Phase 1) represents a rare gem, not only due to the scarcity of supply in Grade A Business Parks, but it also adds diversification to the portfolio by adding a new property type.
As anticipated, the real estate investment trust (Reit) has utilised the opportunity of lease expiries to rebalance the tenant mix at VivoCity. This has enabled it to achieve a rental reversion of 13.5 per cent in 9M FY2017 without compromising on the occupancy rate.
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