Mapletree Commercial Trust to acquire Google Singapore campus for $1.1b

Mapletree Commercial Trust (MCT) is acquiring Mapletree Business City (Phase 2/MBC II) and the adjacent common premises Pasir Panjang Road in Singapore from a direct wholly owned subsidiary of sponsor Mapletree Investments for $1.12 billion.

Together with Mapletree Business City (Phase 1), which was acquired by the trustee in 2016, this will see MCT consolidate its ownership over the entire Mapletree Business City Development.

MBC II has a total net leasable area of approximately 1.2 million square feet and comprises four blocks of business park space. The acquisition also includes the common car park, multi-purpose hall, retail area and common property including the landscape areas driveways and walkways of Mapletree Business City Development.

The property is home to the Asia Pacific headquarters of Google.