MCT makes S$1.78b purchase from sponsor

Singapore

MAPLETREE Commercial Trust (MCT) has agreed to acquire the office and business park components of Mapletree Business City Phase 1 (MBC Phase 1) from its sponsor Mapletree Investments for S$1.78 billion.

This involves the purchase of the strata leasehold interest of an office tower and three business park blocks spanning a total net lettable area of more than 1.7 million sq ft.