Mapletree Logistics Trust to buy HK warehouse for HK$4.8b

Singapore

MAPLETREE Logistics Trust (MLT) is acquiring a warehouse in Hong Kong for HK$4.8 billion (S$831 million) as it looks to strengthen its presence in what it deems to be an attractive logistics market.

In an announcement on Monday evening, Mapletree Logistics Trust Management (MLTM) said it had earlier in the day entered into a conditional share purchase agreement with Mapletree Overseas Holdings, a wholly owned subsidiary of Mapletree Investments, to buy Mapletree Logistics Hub Tsing Yi.

The property, located at 30 Tsing Yi Road, is an 11-storey modern ramp-up warehouse with a net lettable area of 148,065 square metres. It is the newest modern warehouse in Hong Kong, having been completed in 2016; only 12 per cent of warehouses in Hong Kong are less than 10 years in ag…