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 Squa ...

Core Insights - Hongkong Land is set to launch the Singapore Central Private Real Estate Fund (SCPREF) with over S$8 billion ($6.19 billion) in assets under management at inception, aiming to be the largest private real estate fund in Singapore [4] - The fund will focus on managing commercial properties in Singapore and is expected to be officially announced in the first quarter of 2026 [4] - The fund launch follows the company's recent sale of its interest in Marina Bay Financial Centre Tower 3 to Keppel REIT for nearly S$1.5 billion, aligning with its capital recycling targets [4] - The company plans to transfer its interests in Marina Bay Financial Centre Towers 1 and 2 and One Raffles Quay to the fund, which have a total attributable property value of S$3.9 billion as of June [4] - The fund launch supports Hongkong Land's goal of increasing its assets under management to $100 billion by 2035 [3]