Link REIT to acquire 50.1% of Eastpoint Mall for $239.5m

The transaction is expected to be completed in the first quarter of 2027.

Hong Kong-listed Link REIT will acquire a 50.1% interest in Eastpoint Mall from Income Insurance for $239.5m.

Directly connected to Simei MRT station, Eastpoint Mall is a suburban retail property in eastern Singapore, with approximately 214,000 square feet of net lettable area.

Link will serve as the mall’s asset and property manager upon completion of the transaction, which is expected in the first quarter of 2027.

Income Insurance will retain the remaining 49.9% interest.

Link said it will fund the acquisition through internal resources and debt facilities.

Both parties will undertake a phased asset enhancement initiative, during which Eastpoint Mall will remain open. Works are expected to commence in 2027.

Following completion of the acquisition, Link will manage three retail assets in Singapore: Eastpoint Mall, Jurong Point and AMK Hub.