Hongkong Land

The deal will lift the fund’s assets under management to S$9.4 billion

Revenue is down 15.8% to US$632.7 million as the group winds down its build-to-sell business

For investors, a flood of rumours over the sale of assets – including properties, fast-food chains and car dealerships – can be disconcerting

It also expects a better full-year earnings for 2026

Hongkong Land’s strategy update provides a useful reference

M+S, the owner of the high-rise complex, has reportedly priced the asset at about S$5.7 billion

Investing in a Reit where another group is the sponsor may be hardly optimal for the property giant

It says the move aligns with its ‘positive outlook and conviction in Singapore’s prime commercial property market’

The group is ‘very positive’ on the Singapore market, and looks to expand its presence through the new private fund or development opportunities