Mapletree Logistics to Buy $1 Billion of Assets Across Asia

The Merlion Statue stands in the near-empty Marina Bay area during the height of Covid restrictions in Singapore on May 20, 2020. Photo: Bloomberg

(Bloomberg) — Singapore’s Mapletree Logistics Trust is set to acquire assets across China, Japan and Vietnam in deals worth over S$1.4 billion ($1.03 billion) amid growing consumption of e-commerce in those markets.

The real estate investment trust is purchasing 13 logistics properties in China valued at S$870 million, while the proposed acquisitions of three similar assets in Vietnam are worth S$129.9 million, according to a filing on the Singapore Exchange late Monday. In Japan, Mapletree Logistics agreed to buy a logistics facility for S$416.3 million.