US data centre divestments top priority for Mapletree Industrial Trust as Q2 income slips
The trust eyes advanced manufacturing, high-tech industries, digital infrastructure sectors in Singapore, US and Japan
Mapletree Industrial Trust (MIT) is prioritizing the divestment of older North American assets as its chief business objective, amid a decline in Q2 income. CEO Anand Tze Ming Chandran announced that the trust aims to complete a significant portion of the divestments by the end of its fiscal year on March 31, 2027. The divestment plans include assets valued at US$500 million to US$600 million, with US$1.07 billion already attributable to the trust.
The portfolio to be sold comprises 22 older US data centers, currently valued at about US$1.24 billion. Chandran emphasized that the divestment will enhance the trust's diversification beyond the data centre industrial vertical, and improve its ability to manage income replacement, acquisitions, shelter from high-interest rate environments, and hedge profiles.
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