<div id="readability-page-1"><div>[SINGAPORE] The manager of Mapletree Pan Asia Commercial Trust (MPACT) announced on Wednesday (Dec 10) that its subsidiary – Festival Walk – will sell Festival Walk Tower for nearly HK$2 billion (S$328.1 million) to an unrelated third party.The tower, the office component of Festival Walk in Hong Kong, has a lettable area of 213,982 square feet (sq ft) and seven tenants. As at Sep 30, the property had a committed occupancy of 94.2 per cent. Its purchase price was originally HK$2.3 billion, based on the independent valuation commissioned by the manager of Mapletree North Asia Commercial Trust (MNACT) and carried out at the end of October. The valuation was undertaken for the merger of Mapletree Commercial Trust (MCT) and MNACT in 2021. The Reit manager noted the divestment consideration will be paid entirely in cash. Its completion is set for February next year. Divestment proceeds will be directed towards “debt reduction to further enhance financial flexibility and position MPACT to capitalise on future opportunities”, said MPACT’s manager. Post-divestment, MPACT will keep 100 per cent ownership and operations of Festival Walk’s remaining components. “The key component is the retail mall, which has a lettable area of 588,890 sq ft, independently valued at HK$21.8 billion (S$3.7 billion) as at Mar 31,” the manager of the Reit said. Festival Walk is a mixed-use development with a seven-storey shopping mall, a four-storey office tower and three basement car park levels. Located in the Kowloon Tong residential district, it is near two universities, and has direct access to the Kowloon Tong MTR station. After the sale, MPACT’s portfolio will comprise 15 commercial properties in five Asian markets, with a total lettable area of 10.2 million sq ft independently valued at S$15.6 billion. Units of MPACT closed unchanged at S$1.42 on Wednesday.</div></div>

丰树商业信托

丰树商业信托（MPACT）宣布将香港的 Festival Walk Tower 以近 20 亿港元的价格出售给一家无关的第三方。该办公部分的可租赁面积为 213,982 平方英尺，最初估值为 23 亿港元。此次出售预计将在 2 月份完成，旨在增强财务灵活性。MPACT 将保留 Festival Walk 的零售商场，估值为 218 亿港元。出售后，MPACT 的投资组合将包括覆盖五个亚洲市场的 15 处物业

MPACT 的子公司以接近 20 亿港元出售了 Festival Walk Tower