Link: https://links.sgx.com/1.0.0/corporate-announcements/8KWDWZNBEP38JG45/65442a7bf5852ae9983591d4fe90da57e387593210cdd2162b24359d1a50fd3d

Summary:

• Mapletree Pan Asia Commercial Trust has agreed to divest Festival Walk Tower, the office component of Festival Walk in Hong Kong, to an unrelated third party for HKD1,960 million (approximately S$328.1 million) in cash, in line with its latest independent valuation.

• Completion is targeted for February 2026, with net proceeds earmarked for debt reduction, which is expected to lower aggregate leverage from 37.6% to around 36.5%.

• Post-deal, MPACT will retain full ownership of the retail mall and other components of Festival Walk and will continue to own 15 commercial properties across five Asian gateway markets, with Singapore contributing the bulk of net property income and assets under management.