Brookfield Asset Management has bought two business parks and an industrial building in Singapore from Mapletree Industrial Trust (MIT), for S$535.3m (鈧�412m).
The acquisition of the 1.8m sqft Strategy and The Synergy business parks, located in the International Business Park, in Singapore鈥檚 West, marks Brookfield鈥檚 first investment in the city-state.
Mapletree said the sale price represented a 2.6% premium over the independent valuations of the buildings at S$521.5m as at 31 March 2025, and a 22.1% increase from the original investment cost of S$438.4m.
Ler Lily, chief executive officer of Mapletree Industrial Trust Management, said: 鈥淭his strategic divestment aligns with our proactive asset management strategy of optimising portfolio composition while maintaining financial agility to seize new value-creating investment opportunities that will create sustainable returns.
鈥淔ollowing the completion of the divestment, Singapore assets remain a key of MIT鈥檚 portfolio and account for approximately 44.4% of MIT鈥檚 assets under management. MIT鈥檚 properties in Singapore will continue to provide portfolio stability and growth.鈥�
Andrew Burych, Brookfield managing partner and head of East Asia real estate, said: 鈥淲e have strong conviction in the high-tech research and development sector in Singapore.
鈥淎s the gateway to Southeast Asia and a major strategic manufacturing hub, Singapore and its high-tech business parks are benefiting from decades of government initiatives designed to attract and retain global multinational companies and support the growth of Singaporean companies.鈥�
On the rationale of investing in Singapore, Brookfield said the city-state was a key hub for Brookfield in Asia Pacific and Brookfield has had a presence in the country since 2014.
A previous version of this article incorrectly stated the currency symbol and conversion figure. Brookfield acquired the two business parks in Singapore from Mapletree Industrial Trust for S$535.3m 鈧�412m). This error has also been corrected in the headline.
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