TOKYO Aug 16 Mapletree Investments, a real
estate firm wholly owned by Singapore state investor Temasek
Holdings [TEM.UL], said it plans to launch an around 80 billion
yen ($928 million) Japan property fund this year in a bid to
expand in the country's property sector ahead of its rivals.
The new fund, with a 30 billion yen equity portion, will
invest in business-related properties such as data centres,
research and development facilities and office buildings just
outside central Tokyo and other big cities, Terence Heng, general
manager of Mapletree Investments Japan told Reuters in an
Mapletree, which opened its Japan office in 2007, has been
ramping up its investment in Japanese logistics facilities mainly
for its Mapletree Logistic Trust (MAPL.SI), which owns warehouses
and other industrial properties across Asia.
In Japan, the Singaporean company manages 12 properties,
mostly logistics assets, worth 60 billion yen. But it aims to
more than triple this to 200 billion yen in the next 2 to 3 years
before competition heats up in the market, Heng said.
Mapletree will soon ink three acquisition deals, worth about
13 billion yen, for its logistics trust, he continued. Another
three or four transactions are also in the pipeline for the new
fund, and there are also a few logistics facility development
projects underway, he added.
(Reporting by Mariko Katsumura; Editing by Joseph Radford)