Any deal would add to the US$5.6 billion of property trust IPOs in Singapore over the last five years, data compiled by Bloomberg show. At US$1 billion, it would be the country’s biggest REIT listing since 2013 when Mapletree North Asia Commercial Trust raised US$1.4 billion, the data show.
Mapletree Investments, a property developer and manager, is exploring listing a student housing real estate investment trust in Singapore that could raise about US$1 billion, according to people familiar with the matter.
The company, which is owned by Singapore’s state investment fund Temasek Holdings, is in preliminary discussions with prospective advisers on the offering plan, said the people. An initial public offering could take place as soon as next year, one of the people said, who asked not to be identified as the information is private.
