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Hong Kong’s tycoon-owned property giants could take a leaf from Singapore groups

Leslie Yee

Leslie Yee

Published Mon, Dec 18, 2023 · 02:36 PM
    • There is a cost to property groups of holding investment properties on corporate balance sheets instead of via Reits and private funds.
    • There is a cost to property groups of holding investment properties on corporate balance sheets instead of via Reits and private funds. PHOTO: LIANHE ZAOBAO

    THE Hong Kong Exchanges and Clearing is valued at several times that of the Singapore Exchange , which perhaps reflects the greater vibrancy of the territory’s public equities market versus the Republic’s.

    However, Singapore clearly leads Hong Kong in the real estate investment trust (Reit) space. There are around four times as many listed Reits and property-related business trusts in Singapore compared with Hong Kong.

    The territory’s Reit market started slightly later than Singapore’s – in 2005 versus 2002. Over the years, while leading Singapore property groups such as CapitaLand Investment (CLI) and Mapletree Investments have embraced listed Reits and private real estate funds, big Hong Kong property groups have generally been slow at becoming capital light and growing fund management.

    PropertyHong KongHong Kong Propertyhongkong landReitsCapitaLand InvestmentMapletree InvestmentsThe Level Ground

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