The seed assets are likely to be Hongkong Land’s one-third stake in Marina Bay Financial Centre (MBFC) Towers 1&2, its one-third stake in One Raffles Quay (ORQ) and its 100% stake One Raffles Link (ORL).
Hongkong Land has announced it is setting up its Singapore Central Private Real Estate Fund (SCPREF).
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 assets under management (AUM), as well as introducing a new earnings stream in terms of fee income for the company.
