Hongkong Land Holdings has launched its first private real estate fund, seeded with five commercial property assets located in Singapore’s central business district valued at S$8.2 billion (US$6.4 billion), and drawing investors including Qatar’s sovereign wealth fund.
The Hong Kong property investment firm announced the launch of the Singapore Central Private Real Estate Fund in a statement on February 3.
According to the firm, investors in the fund include Qatar Investment Authority, Dutch asset manager APG Asset Management, and a Southeast Asian sovereign wealth fund that it did not identify.
The fund holds 100% interest in two of the five properties – Asia Square Tower 1, and One Raffles Link – and one-third interest in the other three – Marina Bay Financial Centre Tower 1 and 2, Marina Bay Link Mall, and One Raffles Quay.
“The fund targets growing to at least S$15 billion in assets, supported by selective high quality acquisitions and will also benefit from a pipeline of future commercial assets in Singapore that Hongkong Land may develop,” the company says.
