January  Mapletree sponsored the second run of Mapletree-SCCCI River Hongbao Hackathon (RHBHacks), supported by the Singapore Chinese Chamber of Commerce & Industry. Themed “Go Local with a Twist”, the challenge attracted 24 business proposals from teams of students aged 18 to 29 studying in local tertiary institutions. Nine teams were selected to pitch their ideas to a panel of judges during the hackathon. Three winning teams emerged and had the opportunity to set up stalls at River Hongbao and implement their entrepreneurial ideas.

Mapletree hosted a conversation titled “Artists As Citizens” with celebrated British artist Yinka Shonibare CBE, RA, highlighting the importance of arts for placemaking. Besides exploring strategies to activate public spaces through art, the discussion held at The Green Bowl in MBC also deliberated on the importance of corporate partnerships in contributing to cultural vibrancy and sustainability in the urban environment.

In a 50:50 joint venture between Mapletree Investments and Mapletree Industrial Trust (MIT), Mapletree Rosewood Data Centre Trust (MRODCT) completed the acquisition of 10 powered shell data centres in North America from Digital Realty for approximately US$557.3 million (~S$772.5 million) on 14 January 2020. On 1 November 2019, MRODCT completed the acquisition of an 80% interest in three fully fitted hyperscale data centres located in North America at a purchase consideration of US$810.6 million (~S$1.1 billion), with the remaining 20% interest held by Digital Realty.

February Mapletree renewed the Mapletree-TENG Academy Scholarship for the next two years, expanding from four to six scholarships valued at S$10,000 each. For the third year running, Mapletree and The TENG Company are partnering to provide the only Chinese instrumental music scholarship in Singapore for youths from low-income families. The holistic programme looks to develop young talents who demonstrate a passion for Chinese music through robust one-on-one classes, mentorships and performance opportunities.

Mapletree Logistics Trust (MLT) acquired Mapletree Logistics Centre – Hobeob 2 in Seoul, South Korea for KRW35.8 billion (~S$41.2 million). Comprising four blocks of dry warehouses with a total gross floor area of 30,509 square metres, the property is located in YonginIcheon, a prime logistics cluster in the Southeast region of the Seoul Metropolitan Area.

Mapletree Commercial Trust (MCT) rolled out an S$11 million programme to support retail partners affected by the Covid-19 outbreak. The main component is the grant of rental rebates to retail tenants in VivoCity, Singapore.

Mapletree delivered more than 6,300 bento boxes over a month to frontline staff at local hospitals. The meals were from food and beverage tenants of Mapletree malls.

MLT acquired Mapletree Kobe Logistics Centre, a modern four-storey Grade A logistics facility, for JPY22,200 million (~S$299.8 million). Comprising a gross floor area of 102,127 square metres, the facility is strategically located within an established logistics cluster in Kobe, and has a high quality, diversified tenant mix comprising seven established and reputable tenants, most of whom are handling consumer-related goods.

Mapletree North Asia Commercial Trust (MNACT) accelerated its income diversification and acquired two freehold multi-tenanted office properties, mBAY POINT Makuhari and Omori Prime Building, in Greater Tokyo, Japan, from its Sponsor, Mapletree, at a total cost of S$480 million.

March Mapletree inked its first sustainability linked loan of EUR200 million (~S$316.1 million) from OCBC Bank which links the facility with the Group's key environmental, social and governance initiatives.

Mapletree committed A$100,000 (~S$90,588) to the Australian Red Cross to support the Australian bushfire disaster relief and recovery efforts. The donation will be used for on-the-ground disaster services, immediate assistance grants for affected victims, and mid- to long-term recovery efforts.

Mapletree pledged RMB1 million (~S$199,620) to Covid-19 relief efforts in China, via the Singapore Red Cross.

Mapletree donated 6,400 surgical masks to six schools and charity organisations in Chongqing, Foshan, Ningbo, Shanghai and Tianjin as part of its efforts towards the Covid-19 pandemic relief. They were distributed to students, teachers and low-income families who had difficulties buying masks.

MCT committed an additional S$18 million of rental relief in the second round of assistance to retail tenants affected by the Covid-19 outbreak.

Mapletree contributed S$155,000 to the National University of Singapore (NUS) to boost research and raise public awareness of scrap tyre recycling. The new technology developed by NUS offers an ecofriendly way to upcycle used rubber by converting it into super-light aerogels that have a higher commercial value. The initiative is aligned with Mapletree’s commitment to reduce negative environmental impact by harnessing green technology and integrating sustainable designs in its developments.

Mapletree completed the syndication of the Mapletree US & EU Logistics Private Trust (MUSEL) on 31 March 2020. The US$1.8 billion (~S$2.5 billion) MUSEL fund was nearly two times oversubscribed and generated investor demand that surpassed the final allocation of approximately US$450 million (~S$623.8 million). MUSEL is a fully invested yielding portfolio comprising 262 logistics assets in 26 states in the US and 20 cities in seven European countries at a total investment value of US$4.3 billion (~S$6 billion).

Mapletree supported the SB2019 X Converse Chucks Design Competition, which received 350 entries from participants aged nine to 23. It was held in conjunction with the Singapore Biennale 2019. The winning entries were showcased at VivoCity, Singapore and attracted more than 17,500 visitors to view the artworks and vote for the People’s Choice.

April 

The Mapletree India China Fund was fully realised and delivered an overall net internal rate of return (IRR)1 of 13.6% and an equity multiple of 2.0 times.

May

Mapletree acquired its first logistics asset in India through a forward purchase agreement. Comprising three warehouses with a total gross floor area (GFA) of approximately 58,818 square metres (sqm), the properties are located in a logistics park in Chakan, Pune. The location is an established micro-market for Hi-Tech engineering and automobile tenants with good access to Mumbai’s ports, airports and highways connecting to western India.

Under the Mapletree Community Sharing Fund (MCSF), over S$85,000 in voluntary contributions was pooled from Mapletree staff’s Solidarity Payment. The fund provided cash grants to more than 180 employees of tenants and service providers working at Mapletree retail properties in Singapore who had to take no-pay leave during the global pandemic. The second round of MCSF payouts supported more than 140 recipients.

June

MIT was added to the FTSE Straits Times Index on 22 June.

Mapletree’s Japan-focused logistics development fund (MJLD) was fully realised and delivered an overall net IRR1 of 23.7% and an equity multiple of 1.8 times.

The handover to buyers of Mapletree’s first residential project in Vietnam, One Verandah, commenced on 21 June. Located next to the scenic Saigon River in the heart of District 2, Ho Chi Minh City (HCMC), the prestigious condominium which comprises five high-rise residential blocks was well received with over 95% of launched units sold.

July

The second edition of The Mapletree Challenge which was supported by Mapletree, concluded with the Grand Final via vodcast. Six student finalist teams from the Singapore Institute of Technology (SIT) presented entrepreneurial ideas for sustainable innovation. The winners were presented with the Mapletree Gold, Mapletree Silver and Mapletree Bronze awards and cash prizes of S$5,000, S$3,000 and S$2,000 respectively. More than 150 students took part in the seven-month challenge comprising masterclasses, mentorships and an innovation and entrepreneurship forum with industry professionals.

August

Mapletree presented four Singapore Management University (SMU) undergraduates with the Mapletree Awards, each valued at S$8,000, for Academic Year 2019-2020. In total, seven such awards have been presented to date to motivate Real Estate Track students who have achieved excellent academic results and demonstrated strong interest and aptitude. The study trips, annual lectures and forums form part of the Mapletree Real Estate Programme established through a S$3 million endowment from Mapletree to SMU in 2018.

Mapletree’s digital performance series, Mapletree Arts in the City on Air, continued to feature new performances each month. The series started as part of the Group’s Corporate Social Responsibility (CSR) efforts to provide a platform for the arts during the nationwide “circuit breaker” or partial lockdown in Singapore while paying tribute to frontline workers battling the Covid-19 pandemic. As at 31 March 2021, Mapletree has committed S$85,000 to Mapletree Arts in the City on Air.

Oakwood, together with one of China’s leading real estate developers Country Garden Commercial and Culture Tourism Group, announced a strategic alliance to develop the Oakwood Beluxs brand. Targeting aspirational travellers, the goal is to open 100 Oakwood Beluxs properties in China’s 50 cities with the highest gross domestic product by 2030.

September

MNACT announced the expansion of its investment mandate to include South Korea.

Mapletree acquired three Grade A office buildings with approximately 47,100 sqm of net lettable area (NLA) at Perimeter Park in Morrisville, North Carolina, the United States (US) at a total investment value of US$190.5 million (~S$255.3 million). Located in the Research Triangle Park submarket which is in close proximity to Raleigh-Durham International Airport as well as world-class research institutions and top-ranked medical centres, the acquisition also includes another approximately 10,400 sqm of undeveloped land parcel with the potential to be developed into an office building with approximately 14,000 sqm of NLA.

In addition to Mapletree’s existing office assets in Bengaluru, Chennai and Pune, the Group expanded its commercial footprint to include Mumbai, with the acquisition of approximately 25,516 sqm of land for development as office space.

MIT completed the acquisition of the remaining 60% interest in 14 data centres in the US. The agreed property value of the 14 data centres on a 60% basis was US$494.0 million (~S$662.0 million). With an NLA of 209,291 sqm, the data centres are on freehold land2 and strategically located in established data centre markets across the US. In FY20/21, the data centres were 96.7% leased to established tenants including Fortune Global 500 corporations and companies listed on the NYSE/Nasdaq.

The Group paid tribute to essential and healthcare workers battling the Covid-19 pandemic through a billboard advertisement at Tanjong Pagar Distripark, 37 Keppel Road, and wall banners at the linkway bridges between Alexandra Retail Centre and Mapletree Business City (MBC), as well as HarbourFront Centre. The advertisements featured representatives from various Singapore government hospitals and Mapletree’s Facility Management vendors.

MLT completed the forward purchase of a one-storey warehouse in Truganina, Melbourne, Australia for A$18.4 million (~S$19.2 million). Sited on freehold land of 25,650 sqm, the Grade A facility offers 15,154 sqm of NLA. The newly completed property had secured 100% lease commitment prior to its completion.

Mapletree donated 15 upcycled laptops to the Bukit Batok Community Club in Singapore to support children from low-income families. The laptops, refurbished with new hard disks and Microsoft Office Suite, provided more than 25 beneficiaries with a greater access to online tuition platforms and resources.

October

Mapletree launched the Mapletree Traineeship (M-TRAIN) which is a 12-month full-time work-study programme to employ up to 30 trainees in Singapore. Fully funded by Mapletree, this initiative supports fresh graduates who face challenges finding employment because of the pandemic, and allows them to gain insights into the real estate industry, both professionally and academically.

Over 360 participants attended the first virtual Mapletree Real Estate Forum titled “Opportunities and Challenges for the Real Estate Sector in the Covid-19 Era”, which was jointly organised by Mapletree and SMU. The annual forum is part of the Mapletree Real Estate Programme at SMU.

The Group entered into a unit sale and purchase agreement to co-invest in The Pinnacle Gangnam with MNACT for KRW452 billion (~S$535.1 million). Located in Gangnam-gu, Seoul, South Korea, the 20-storey freehold office with six underground floors has a GFA of approximately 44,400 sqm. The premium Grade A property in the Gangnam business district has direct access to an underground subway station and enjoys excellent connectivity across the Seoul metropolitan area.

November

Mapletree continued to deepen its network connectivity in Japan, expanding into seven regions through its maiden entry into the Kyushu logistics market. The acquired plot of prime land is well-connected to major transportation infrastructure in Fukuoka and spans 116,431 sqm. Upon completion, it is set to be Fukuoka prefecture’s largest logistics warehouse space, comprising two blocks of multi-storey logistics with a combined GFA of 231,956 sqm and total investment over S$550 million.

Oakwood announced the launch of The Unlimited Collection by Oakwood with the debut of three downtown, iconic heritage properties located in Singapore’s key architectural conservation precincts. Through distinctive residential spaces that celebrate individualism, the properties target independent travellers.

Mapletree signed a sales and purchase agreement to acquire mTower Wuhan, a 44-storey international Grade A office in China. The asset, which spans 81,771 sqm, is located in Wuhan Optics Valley, Hubei Province. It is one of China’s most important science and innovation clusters.

Following the acquisition of three Grade A office buildings in Perimeter Park in September 2020, Mapletree acquired another eight office buildings, with a total NLA of approximately 63,300 sqm, within the same park for US$164.2 million (~S$220 million).

Mapletree acquired a 36.3-hectare site in Crestmead, Brisbane, Australia which will be developed into Mapletree Logistics Park – Crestmead, one of the biggest industrial developments within Brisbane. With excellent access to the Logan Motorway, city centre, port and airport, the logistics park will be developed over four phases to provide approximately 200,000 sqm of high grade logistics warehousing and office space.

December

Mapletree held the first ever digital 36th Singapore Bird Race which saw almost 250 participants competing in six different categories under safe distancing guidelines to raise awareness of threatened birds. Jointly organised by Mapletree, BirdLife International and the Nature Society (Singapore), the race is a continuation of the partnership established in 2019. It concluded with an online webinar graced by Minister for National Development, Mr Desmond Lee, who also took part in the race.

MIT marked its first foray into sustainable financing by securing a S$300 million sustainability-linked facility with a tenor of up to six years. The facility integrates its sustainability performance with its cost of financing.

MLT completed the acquisitions of eight high-quality Grade A logistics facilities located in the key logistics hubs of China and Vietnam, as well as the remaining 50% interest in 15 logistics properties in China. These acquisitions, which will expand MLT’s regional footprint and enhance its portfolio returns, are strategically located and cater to the modern requirements of third-party logistics firms and e-commerce tenants.

MLT acquired Higashi Hiroshima Centre, a modern two-storey freehold logistics facility with a GFA of 26,969 sqm for JPY6,370 million (~S$78.7 million). Its central location in the Hiroshima prefecture in Japan, with connectivity to Greater Osaka in the east and Kyushu Island in the west, makes it ideal for regional distribution within and outside of Hiroshima.

MLT extended its footprint in Australia with the acquisition of a purpose-built modern logistics facility in Brisbane, Queensland for A$114 million (~S$118.7 million). Sited on freehold land, it comprises two buildings with a GFA of approximately 55,009 sqm. The facility is well-positioned to benefit from its prime location in Acacia Ridge – an established industrial and logistics precinct in close proximity to the city with convenient access to key transportation infrastructure.

Mapletree completed its first US student housing development project, The Chestnut at University City. Comprising 405 units, the 30-storey development is adjacent to the Wharton School of the University of Pennsylvania.

1 After expenses, taxes and base management fee but before carried interest. 2 All properties are sited on freehold land, except for the parking deck (150 Carnegie Way) at 180 Peachtree, Atlanta, the US. As at 31 March 2021, the parking deck has a remaining land lease tenure of approximately 34.8 years, with an option to renew for an additional 40 years.