Hongkong Land’s SCPREF shows private funds may trump Reits for asset-light strategies

[SINGAPORE] I am an ardent supporter of listed real estate investment trusts (Reits). My work experiences include being a real estate investment banker at a foreign house, an equities research analyst at a US bank covering Singapore property, and part of senior management of a major Reit, overseeing investment management, research and investor relations.  

Today, I hold units in various Reits. I believe that Reits help democratise the ownership of good grade investment properties and see investing in well-managed Reits as helpful for retirees seeking stable recurrent income that may grow over time. 

Thus, I was disappointed when Hongkong Land Holdings injected its interests in various premier Singapore commercial properties into a private fund and not a Reit.