MLT to Acquire Grade A Warehouse in India for S$53.6 Million,Strengthening Its Local Logistics Footprint

NewTimeSpace News: On March 21, 2026, MLTM, the manager of MLT, announced its plan to acquire a modern Grade A warehouse in Bhiwandi, Mumbai, Maharashtra, India by purchasing two affiliated companies, with a consideration of INR 3.888 billion (equivalent to approximately S$53.6 million).

It is reported that the freehold warehouse was newly completed in August 2025, boasting a net lettable area of 79,378 square meters and high-standard building specifications. The entire warehouse is leased to two leading listed Indian e-commerce companies focusing on food and grocery, with a remaining weighted average lease term of 3.9 years and a built-in annual rent escalation clause.

Jean Kam, Chief Executive Officer of MLTM, stated that this acquisition will not only enrich MLT's high-quality asset portfolio but also expand its presence in India from Pune and Delhi to the new market of Mumbai.

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