Mapletree Industrial Trust (MIT) will sell a cluster of two factories located at Tanglin Halt for S$50.6 million to an unrelated third party, its manager said on Wednesday (Feb 7).

The selling price is 3.9 per cent above the properties’ independent valuation of S$48.7 million as at Dec 31, 2023. It also implies an 8.4 per cent premium above the book value of S$46.7 million as at the end of the financial year ended Mar 31, 2023.