Mapletree Raises Over $500M for $2.1B Emerging Asia Logistics Push
Mapletree Investments has secured more than $500 million in equity commitments at the first close of a logistics development strategy targeting $2.1 billion in assets across Malaysia, Vietnam and India. The fund, MEGA, will target high-growth markets amid growing domestic consumption and supply-chai
Singapore’s Mapletree Investments has secured more than $500 million in equity commitments at the first close of an emerging Asia logistics development strategy targeting $2.1 billion in assets across Malaysia, Vietnam and India.
The total comprises $250 million raised for the Mapletree Emerging Growth Asia Logistics Private Trust, or MEGA, and over $250 million through a joint venture and direct co-investments into selected Malaysian development projects, the Temasek-owned firm said Tuesday in a release. Backers across the strategy include sovereign wealth funds, a pension fund and a national investment company.
MEGA is seeking a further $200 million in commitments at a second close targeted for early next year and aims to deliver an internal rate of return in excess of the mid-teens. Mapletree pointed to growing domestic consumption, manufacturing activity and supply-chain diversification as driving demand amid a structural undersupply of institutional-grade logistics space.
“MEGA’s successful first close marks an important milestone,” said group CEO Hiew Yoon Khong. He credited Mapletree’s integrated development, investment and management capabilities with enabling the firm to accelerate deployment across market cycles.
The fund’s initial portfolio comprises four development projects in Malaysia, one project in India and two warehouses in Vietnam. The joint venture and direct co-investments will add selected Malaysian developments as Mapletree deploys the capital. Mapletree will manage the new fund and retain a stake of at least 20 per cent to align its interests with those of investors.
Logistics is Mapletree’s largest asset class, accounting for 43 per cent of group assets under management, or S$32.4 billion. The firm managed 22.8 million square metres (245 million square feet) of logistics space across 12 markets as of March, while sponsored Mapletree Logistics Trust owned 175 properties across nine APAC markets with 96.9 per cent occupancy.
The fundraising comes as Mapletree recycles capital from mature assets, including through five major US logistics disposals completed between June 2025 and April of this year. The latest was the $207.5 million sale of 19 properties spanning nearly 1.4 million square feet to last-mile specialist Dalfen Industrial, lifting Mapletree’s US warehouse sales over the 10-month period to $1.3 billion.
