SCPREF is expected to be seeded by Hongkong Land’s Singapore commercial portfolio and other assets acquired by the fund on inception and over time, creating future growth in earnings and AUM, as well as introducing a new earnings stream in terms of fee income for the Company.
APG (All Pension Group, Algemene Pensioen Groep), a Dutch pension investment company based in the Netherlands, which is a subsidiary of the largest pension fund in the Netherlands, and Qatar Investment Authority (QIA) are reported by PERE to be the anchor investors in Hongkong Land's Singapore Central Private Real Estate Fund (SCPREF).
SCPREF is expected to be the largest Singapore private real estate fund with more than $8 billion of assets under management (AUM) at inception. The fund will be solely focused on managing prime commercial property assets in Singapore, creating a private investment platform that will own and operate some of Singapore’s most valuable real estate assets in terms of location, tenants, and resilience of rental income.
