Mapletree Logistics is a subsidiary of Mapletree Investments Pte, backed by Temasek Holdings Pte., a state financier.

According to a filing on the Singapore Exchange from late Monday, the real estate investment trust is acquiring 13 logistics buildings in China for S$870 million ($635.9 million), while the planned purchases of three comparable assets in Vietnam are worth S$129.9 million ($94.95 million).

Moreover, Mapletree Logistics has agreed to purchase a Japanese logistics facility in a deal worth S$416.3 million ($304.3 million), Bloomberg reported.

Mapletree Logistics also anticipates to fund the prospective acquisitions with a mix of stock and loans, noted Bloomberg.

The purchases in China and Vietnam coincide with increased e-commerce demand from an emerging middle class, which is likely to fuel stronger need for logistics.

Last year, Mapletree has completed One Verandah, a prestigious residential project located in a golden area of District 2 in Ho Chi Minh City.

Mapletree Logistics Centre is currently located in Vietnam Singapore Industrial Park, Thuan An district, Binh Duong province.