Mapletree Logistics Trust divests 31 Penjuru Lane logistic site for $7.8m

The divestment is part of the company’s efforts to rejuvenate its portfolio.

Mapletree Logistics Trust (MLT) has agreed to divest its logistics property at 31 Penjuru Lane to an unrelated third party for $7.8m.

The sale price of $7.8m is 6.8% above the latest valuation of $7.3m as of 28 November 2024.

The property comprises a 35-year-old three-storey warehouse and a 28-year-old part five-/part 10-storey warehouse with an ancillary office. It has a remaining land lease of approximately seven years.

The divestment is part of MLT’s effort to rejuvenate its portfolio. Proceeds from the sale will provide MLT with greater financial flexibility to pursue investment opportunities in high-specification, modern logistics facilities with higher growth potential.

JTC Corporation has granted in-principle approval for the transaction, subject to the parties complying with the stipulated conditions.

The proposed divestment is expected to be completed by Q2 FY25/26.

Follow the link for more news on

Mapletree Logistics Trust

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia