JTC Appoints Mapletree Investments As Manager Of Its REIT

Source : Channel NewsAsia, 01 February 2008

Mapletree Investments has been appointed by JTC Corporation to set up and manage a proposed real estate investment trust of its properties.

The REIT will acquire some of JTC's high-rise ready-built properties.

These will include flatted factories, ramp-up and stack-up factories, and multi-tenanted business park buildings.

Mapletree was picked from a wide range of submissions made by international and local players.

JTC said all the proposals were evaluated based on individual merit against an objective set of criteria. Mapletree was chosen after a rigorous selection process.

The proposed REIT is targeted for around the middle of 2008, subject to market conditions. - CNA/vm