Hongkong Land takes 10.8% stake in Suntec REIT for $541m

The group bought the interest at a discount of $2.03 per unit.

Hongkong Land Holdings Limited has acquired a 10.8% interest in Suntec Real Estate Investment Trust (Suntec REIT) from ESR Group Limited for $541m (US$422m).

The REIT’s portfolio includes office and retail assets across Singapore’s central business district, notably a 33 1/3 % interest in Marina Bay Financial Centre (Towers 1 & 2) and One Raffles Quay.

The same assets are also held 33 1/3 % by the Singapore Central Private Real Estate Fund, which is majority owned and managed by Hongkong Land.

The group said the acquisition allows it to deploy recycled capital into prime Singapore commercial properties and adds yield from Suntec REIT to its earnings profile.

The investment was made at a discount to the REIT’s independent net asset value of $2.03 per unit as of 31 December 2025.

Separately, Tang Organization holds approximately 36 % of Suntec REIT units, after its subsidiary, Acrophyte Asset Management Pte Ltd, acquired the REIT manager.

$1 = US$0.78