3 Singapore Blue-Chip REITs To Watch This Week

Core Viewpoint - Mapletree family of REITs is actively reshaping portfolios through divestments and capital redeployment, aiming for stronger growth despite short-term distribution impacts [1][13] Mapletree Logistics Trust (MLT) - MLT is pursuing a portfolio rejuvenation strategy with a divestment target of approximately S$1.0 billion, mainly from older properties in China and Hong Kong [2] - For FY2026, MLT aims to divest between S$100 million and S$150 million, having completed S$58 million in divestments year-to-date as of September 2025 [3] - DPU for 2QFY2026 decreased by 10.5% YoY to S$0.01815, largely due to the absence of divestment gains, with operational DPU down 4.8% YoY [4] Mapletree Pan Asia Commercial Trust (MPACT) - MPACT owns 15 commercial properties across five Asian markets, with total assets under management of S$15.9 billion [5] - For 1HFY2026, MPACT reported gross revenue of S$437.1 million, down 5.4% YoY, and net property income fell 5% to S$329.9 million [5] - DPU declined 1.2% YoY to S$0.0402, influenced by divestments and overseas market challenges, while VivoCity showed positive performance with increased shopper traffic and tenant sales [6][7] Mapletree Industrial Trust (MIT) - MIT manages 136 industrial properties with assets under management of S$8.5 billion, where data centres represent 58.3% of the portfolio [9] - For 1HFY2026, MIT's gross revenue was S$346.1 million, down 3% YoY, and DPU fell 5.1% to S$0.065 [9][10] - The North American portfolio occupancy is a concern at 87.8%, while Singapore properties achieved a weighted average rental reversion of 6.2% [11][12] Overall Investment Outlook - All three Mapletree REITs have experienced DPU declines, but management is focused on long-term sustainability through strategic portfolio repositioning [13] - The upcoming earnings reports in January 2026 are expected to provide insights into the effectiveness of these strategies and potential for future income growth [14]