Mapletree Pan Asia Commercial Trust Website

Mapletree Pan Asia Commercial Trust

SGX-N2IU

Company Overview

Mapletree Commercial Trust is a Singapore-focused real estate investment trust (REIT) that invests on a long-term basis, directly or indirectly, in a diversified portfolio of income-producing real estate used primarily for office and/or retail purposes, whether wholly or partially, in Singapore, as well as real estate related assets. MCT's portfolio comprises VivoCity, MBC, PSA Building, Mapletree Anson and MLHF. These five assets have a total NLA of 5.0 million square feet with a total value of S$8.7 billion.

  • Name

    Mapletree Pan Asia Commercial Trust

  • CEO

    Hwee Li Lim

  • Website

    www.mapletreepact.com

  • Sector

    Diversified REITs

  • Year Founded

    2005

Company Statistics

Profile

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Returns (5Yr Avg)

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Valuation (TTM)

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Valuation (NTM)

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Financial Health

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Growth (CAGR)

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Dividends

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Bulls Say

  • Office workers fully returning to offices would result in higher demand for MPACT's office space.

  • The trust can grow aggressively via acquisitions and development due to a lower interest-rate environment.

  • A robust rebound in the Chinese economy that lifts office leasing demand for the trust and drives a strong recovery in Hong Kong's inbound tourism, benefiting the trust's retail assets.

Bears Say

  • Interest rates staying higher for longer, resulting in higher financing costs and cost of capital, would make it harder for the trust to identify yield-accretive acquisitions and grow distributions per unit.

  • The rise of online and mobile shopping could pressure leasing demand for the trust's retail space as traditional retailers reduce their physical store count and move online.

  • The Singapore dollar could continue to appreciate against the yuan, yen, and won, resulting in weaker performance from the foreign assets and drag the trust's overall returns.

Source: Morningstar Analysis - Oct 23, 2025
SGX:N2IU