Singaporean real estate developer, Mapletree Investments Pte. Ltd, is said to be planning a US$1.5 billion initial public offering of China real estate assets early in 2013.
Last week, an unidentified source said to have knowledge of the IPO indicated that the listing would take place during the first half of 2013 in Singapore.
Mapletree, which is a branch of the Singapore government-linked company, Temasek Holdings would be including a portion of its China office and retail real estate holdings into the new REIT. Mapletree has invested in office, retail and industrial projects in China, including such high profile projects as the Nanhai Vivocity project in Guangdong province and VivoCity Xian.
Mapletree already has a number of REITs listed on the Singapore Stock Exchange.
According to the source, plans for Mapletree’s latest IPO are still in the early stages, and the exact mix of properties to be included has not been finalised yet. According to the company website, Mapletree has eight commercial and retail properties and projects in China. These properties are in addition to the company’s 12 logistics sites in the country.
In all, Mapletree owns and manages more than S$19.9 billion of real estate assets across Asia, including in Singapore, Hong Kong, China and Vietnam.