Suntec REIT co-owns the Marina Bay Financial Centre (Towers 1 & 2) and One Raffles Quay, together with the newly established Singapore Central Private Real Estate Fund (SCPREF), which is majority-owned and managed by Hongkong Land.
Jeff Yau of DBS Group Research has maintained his "buy" call and US$10.17 target price on Hongkong Land Holdings after it paid $541 million, or $1.70 per share, for a 10.8% stake in Suntec REIT.
The two entities are no strangers.
