Hongkong Land plans to launch a Singapore-focused private real estate fund with more than S$8 billion ($6.19 billion) in assets under management at inception, the company said on Friday, December 12.
The fund, named Singapore Central Private Real Estate Fund ("SCPREF"), will manage commercial properties across the city-state. According to the company, it is expected to become the largest private real estate fund in Singapore once operational.
Although Hongkong Land did not disclose a specific launch date, it said it plans to announce the fund’s establishment in the first quarter of 2026.
Most importantly, the fund forms part of the company’s broader capital recycling strategy. This follows Hongkong Land’s recent sale of its stake in Marina Bay Financial Centre Tower 3 to Keppel REIT for nearly S$1.5 billion. As a result, the company is now close to meeting its stated capital recycling targets.
Besides that, Hongkong Land will transfer its interests in Marina Bay Financial Centre Towers 1 and 2, along with One Raffles Quay, into the new fund. These assets had a total attributable property value of S$3.9 billion as of the end of June, the company said in a statement.
Therefore, the launch of the fund supports Hongkong Land’s long-term objective of growing its assets under management to $100 billion by 2035.
($1 = 1.2916 Singapore dollars)
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