SINGAPORE: Property group Hongkong Land announced on Friday (Dec 12) that it will launch its first private real estate fund with more than S$8 billion of assets under management (AUM) at inception.

The Singapore Central Private Real Estate Fund (SCPREF) will solely focus on managing prime commercial property assets in the city-state and is expected to be the largest private real estate fund in Singapore.

The fund will be seeded by the company’s Singapore commercial portfolio and other assets acquired by the fund on inception and over time, the company added.

Hongkong Land did not provide a specific date and time of the launch for the fund, but further announcements will be made in the first quarter of 2026 (Q1 2026).

The announcement follows the sale of Hongkong Land’s interest in Marina Bay Financial Centre Tower 3 to Keppel REIT for approximately S$1.5 billion.

Hongkong Land will transfer its interests in One Raffles Quay and Marina Bay Financial Centre Towers 1 and 2 to the fund with a total attributable property value of S$3.9 billion as of June 30, 2025, it added.

The company said the fund is expected to launch with AUM more than double its seed portfolio, adding that the establishment of the fund is part of the company’s strategy to grow its AUM to US$100 billion (S$129.20 billion) by 2035. /TISG

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