While datacentres are the hot new properties that many REITs are chasing, Mapletree Industrial Trust is this time on the selling side as Equinix Singapore has exercised a purchase option it had on the one at 26A Ayer Rajah Crescent (Singapore). The option was part of the 2015 lease and the transaction will be done at S$125 million.

The sale price represents a 23.3 per cent premium over the development cost of S$101.4 million. The property contributed about 2.2 per cent to MIT's portfolio gross revenue in the financial year ended March 31, 2020.