Hongkong Land has launched Singapore’s largest private real estate fund, as the 137-year-old property developer embarks on a strategic pivot towards fund management and commercial properties under CEO Michael Smith.
The Singapore Central Private Real Estate Fund (SCPREF) will focus on prime commercial assets in the country’s central business district, and with around 8.2 billion Singapore dollars ($6.4 billion) in assets. SCPREF’s initial portfolio comprises several buildings in Singapore’s CBD: Asia Square Tower 1, One Raffles Link, One Raffles Quay, Marina Bay Link Mall and Towers 1 and 2 of the Marina Bay Financial Centre.
