Will Hongkong Land seek to control the manager of Suntec Reit or the trust’s most prized properties?
Investing in a Reit where another group is the sponsor may be hardly optimal for the property giant
Add BT as a preferred source
[SINGAPORE] In late October 2024, Hongkong Land unveiled a new strategy to double underlying profit before interest and tax, double dividend per share, recycle capital of up to US$10 billion and grow assets under management (AUM) to US$100 billion with active participation by third-party capital by 2035.
The group has since been executing its strategy. Among various moves, it sold its property development business in Singapore and Malaysia, MCL Land, to Sunway Group.
The property giant also established its inaugural private real estate fund – the Singapore Central Private Real Estate Fund (SCPREF). Qatar Investment Authority and APG Asset Management are founding investors, and Hongkong Land manages this fund.
TRENDING NOW
Profit with purpose: Kim Choo Kueh Chang’s pivot from public listing to protecting heritage
Singapore Kitchen CEO, senior manager charged with alleged fraud, falsifying accounts; both to stay in jobs for now
Yeo’s, Tiger Beer and now Gardenia – flight of food manufacturing from Singapore might be just as planned
Should you sacrifice some CPF Life income in favour of ILPs? Tread carefully
