Mapletree refocuses $15.5b portfolio on retail and business parks after Hong Kong exit

MPACT portolio now comprises15 properties focused on retail and business parks.

Mapletree Pan Asia Commercial Trust (MPACT) has completed the divestment of the office component of Festival Walk in Hong Kong, its manager said.

The sale follows an earlier announcement made in December and was completed on 2 February, according to MPACT Management.

The trust will retain full ownership and operations of Festival Walk’s retail mall, which has a net lettable area of about 588,890 square feet.

Following the transaction, MPACT’s portfolio comprises 15 commercial properties with a combined lettable area of 10.2 million square feet, independently valued at $15.5b, the manager added.

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Mapletree Commercial Trust

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