Mapletree Logistics Trust's China Rental Declines Likely to Continue Narrowing
Dow Jones
Sep 08
0605 GMT - Rental declines for Mapletree Logistics Trust in China are likely to continue narrowing as the country's logistics market stabilizes, says Fitch Ratings in a note. The Chinese market makes up around 14% of the Singapore-listed real-estate investment trust's revenue, Fitch notes. Pressure on the Chinese logistics market's rentals and occupancy is likely to ease as new supply is absorbed. The country's robust exports and manufacturing activity are also likely to drive continued demand for warehouse and logistics facilities, Fitch adds. Meanwhile, rising e-commerce needs and supply-chain optimization should continue to support tenant demand for the REIT, which has assets across nine Asia-Pacific markets, Fitch says. Units are down 1.7% at 1.14 Singapore dollars.
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