Mapletree Investments has successfully secured over US$500m in equity commitments for the first close of its Emerging Asia logistics development strategy. This includes US$250m for the Mapletree Emerging Growth Asia Logistics Private Trust (MEGA) and more than US$250m through a joint venture and direct co-investments in Malaysia. MEGA plans to raise an additional US$200m by early next year.
The strategy targets logistics development in Malaysia, Vietnam, and India, driven by increasing domestic consumption and manufacturing activities. The portfolio is expected to reach a total investment value of US$2.1b when fully deployed. MEGA’s initial portfolio includes four projects in Malaysia, one in India, and two warehouses in Vietnam.
Group CEO of Mapletree, Hiew Yoon Khong, expressed confidence in the strategy, stating, “MEGA’s successful first close marks an important milestone and the commitments received reflect confidence in Mapletree’s ability to deliver development value across market cycles.”
Logistics is Mapletree’s largest asset class, comprising 43% of its assets under management, valued at S$32.4b. The Group manages 22.8 million square metres of logistics space globally. MEGA is Mapletree’s 18th private real estate fund and follows the successful syndication of previous logistics-focused funds in China and Japan.
Regional CEO, Ng Kiat, highlighted the Fund’s potential, noting, “MEGA provides investors with access to logistics development opportunities in select high-growth markets across Emerging Asia.” The Fund is managed by Mapletree Real Estate Advisors, with Mapletree retaining a minimum 20% stake to align interests with investors.
