REG - Hongkong Land Hldgs - Advancement via Singapore Private Real Estate Fund

Hongkong Land HoldingsAnnouncement

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RNS Number : 2839L  Hongkong Land Hldgs Ltd  11 December 2025

Announcement

 

12 December 2025

The following announcement was issued today to a Regulatory Information
Service approved by the Financial Conduct Authority in the United Kingdom.

HONGKONG LAND HOLDINGS LIMITED

HONGKONG LAND ADVANCES STRATEGY VIA INAUGURAL PRIVATE REAL ESTATE FUND IN SINGAPORE
Hongkong Land Holdings Limited ('Hongkong Land' or the 'Company') announces today that it has made significant advancements towards the launch of its first private real estate fund - the Singapore Central Private Real Estate Fund ('SCPREF').

 

SCPREF is expected to be the largest Singapore private real estate fund with more than S$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 unique 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. 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.
 
Prior to the transfer of the Company's interests in its Singapore commercial portfolio into SCPREF, in accordance with its contractual obligations, the Company has first offered its 33⅓% interests in One Raffles Quay ('ORQ'), Marina Bay Financial Centre Towers 1 and 2 ('MBFC T1 and T2') and Marina Bay Financial Centre  Tower 3 ('MBFC T3') to its existing joint venture partners with a deadline of acceptance of 11 December 2025.

 

MBFC T3

 

Keppel REIT has agreed to acquire Hongkong Land's interest in MBFC T3, based
on an attributable property value of approximately S$1.5 billion (US$1.1
billion), 2% above Hongkong Land's independent valuation as of 30 June 2025.
MBFC T3 provides close to 1.3 million square feet of office space on a 100%
basis.

 

Net proceeds from the sale of MBFC T3 will increase Hongkong Land's total
capital recycling achieved since 2024 to US$2.8 billion from US$2.1 billion,
around 70% of its 2027 US$4 billion capital recycling target.

 

MBFC T1 and T2, ORQ and One Raffles Link ('ORL')

 

As the pre-emptive offers for ORQ and MBFC T1 and T2 have now lapsed, Hongkong
Land plans to transfer its interests in these assets into SCPREF together with
its 100% interest in ORL. Combined, these assets have a total attributable
property value of S$3.9 billion (US$3.0 billion) as of 30 June 2025 and
contribute approximately 3.2 million square feet of prime office space in
Singapore on a 100% basis.

 

SCPREF is expected to launch with AUM more than double that of Hongkong Land's
seed portfolio. The level of equity commitments by third party capital
investors into SCPREF is currently in the final stage of documentation. It is
expected that these commitments, together with the sale proceeds from MBFC T3,
will further support the Company's capital recycling strategic focus.  The
establishment of SCPREF is in line with the Company's strategy to grow its AUM
to US$100 billion by 2035, with meaningful participation from third-party
capital investors.

 

Singapore remains a core market for Hongkong Land, with the Company planning
to use the capital recycled from the sale of MBFC T3 and SCPREF to further
invest in ultra-premium integrated commercial properties in Singapore as it
continues to execute on its strategy.

 

A further announcement is expected to be made in the first quarter of 2026 on
the fund establishment of SCPREF.

 

Hongkong Land

 

Hongkong Land is a major listed property development, investment and
management group. It focuses on developing, owning and managing ultra-premium
mixed-use real estate in Asian gateway cities, featuring Grade A office,
luxury retail, residential and hospitality products. With over US$40 billion
assets under management, Hongkong Land's ultra-premium mixed-use real estate
footprint spans over 1.28 million sq. m. in operation and 1 million sq.m under
development, with flagship mixed-use projects in Hong Kong, Singapore and
Shanghai. Its properties hold industry leading green building certifications
and attract the world's foremost companies and luxury brands.  Established in
1889, Hongkong Land takes a long-term view, investing significantly alongside
our capital partners and concentrating our portfolio where we can create the
most value for tenants, customers and investors. Hongkong Land Holdings
Limited has a primary listing on the London Stock Exchange, with secondary
listings in Singapore and Bermuda. Hongkong Land is a member of the Jardine
Matheson Group.

 

 

- end -

 

For further information, please contact:

 Hongkong Land
 Louise Corbett                                           +852 2842 8541  louise.corbett@hkland.com
 Sophia Wong                                              +852 2842 8262  sophia.wong@hkland.com

 SEC Newgate                                              +852 6021 8313  hkl@secnewgate.hk

 

This and other Group announcements can be accessed via the Hongkong Land
corporate website at 'www.hkland.com'.

 

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