Mapletree Industrial Trust outlook is ‘positive,’ says UOB KayHian

This is due to its growth in power-constrained markets.

Real estate investment trust, MapleTree Industrial Trust, outlook is positive as there is growth in power-constrained markets such as Valley and Northern Virginia and is likely to spill over to other markets in the US, according to investment bank, UOB KayHian.

In the fourth quarter of financial year 2022, MapleTree’s distribution per unit went up 5.8% year-on-year, which is driven by acquisition of 29 data centres in North America.

MapleTree had gain in fair value of its investment properties of $87m driven by these data centres due to compression of capitalisation rate.

It will likely pursue the acquisition of remaining 50% stake in the second data centre joint venture with Mapletree Investments in fiscal year 2024.