Investors may get a chance to own a piece of Vivocity, the largest mall in Singapore, by the middle of 2011, said Wong Mun Hoong, chief financial officer of Mapletree Investments.
The company is planning to list a commercial real estate investment trust (REIT), which is expected to raise no less than $500 million.
Mapletree Commercial Trust will hold approximately $3 billion to $4 billion of commercial properties, anchored by the $2-billion Vivocity Mall.
The REIT could also include other commercial properties owned by Mapletree Investments, including Mapletree Business City, the PSA Building and Merrill Lynch HarbourFront. The REIT could be listed by the first half of 2011 if market conditions are favourable.