<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>

豐樹商業信託

豐樹商業信託（MPACT）宣佈將香港的 Festival Walk Tower 以近 20 億港元的價格出售給一家無關的第三方。該辦公部分的可租賃面積為 213,982 平方英尺，最初估值為 23 億港元。此次出售預計將在 2 月份完成，旨在增強財務靈活性。MPACT 將保留 Festival Walk 的零售商場，估值為 218 億港元。出售後，MPACT 的投資組合將包括覆蓋五個亞洲市場的 15 處物業

MPACT 的子公司以接近 20 億港元出售了 Festival Walk Tower