Hongkong Land has acquired a 10.8% stake in Suntec REIT from ESR Group for a total of S$541m (鈧�365.8m).
Suntec REIT holds a S$12.1bn portfolio of office buildings, mostly located in Singapore鈥檚 financial hub, with additional assets in Australia and the UK.
Among its assets are three blue-chip towers, which it owns jointly with Hongkong Land. It has a third interest in both Marina Bay Finance Centre Towers 1 and 2 and One Raffles Quay.
Hongkong Land鈥檚 new private fund, the Singapore Central Private Real Estate Fund, also has a third interest in each of these buildings.
Hongkong Land said: 鈥淭he acquisition enables the company to deploy recently recycled capital into prime, income-producing commercial assets predominantly located in Singapore. This aligns with the company鈥檚 positive outlook and conviction in Singapore鈥檚 prime commercial property market.鈥�
Additionally, the yield derived from the company鈥檚 stake in Suntec REIT will contribute to the diversification of Hongkong Land鈥檚 earnings profile, the company said.
Hongkong Land鈥檚 investment in Singapore-listed Suntec REIT has been made at a discount to its independent net asset value of S$2.03 per unit as of 31 December 2025.
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