Hong Kong real estate giant Link Reit is acquiring two Singaporean retail developments, Jurong Point and Swing By @ Thomson Plaza, for US$1.6 billion.
Upon the transaction's completion with the seller, Mercatus Co-operative Limited, Link will be one of the top 10 retail asset owners in Singapore and the sixth largest shopping center operator by footprints.
As part of the transaction, Link will sign a 10-year asset and property management service contract for AMK Hub, a third suburban shopping center that will continue to be owned by Mercatus.
According to Link CEO George Hongchoy, the transaction allows them to build a dedicated team in Singapore and create a base to expand further into other asset classes and strategies in Asia Pacific.
The two properties generated an annualized net property income of $79 million as of last October.


Time to buy local: war fuel price shocks reveal the folly of a long food supply chain
Dollar Surges to Monthly High as Middle East Conflict Rattles Global Markets
SpaceX Eyes Historic IPO at $1.75 Trillion Valuation
Australia's Trade Surplus Surges in February on Gold Export Boom
Asian Stocks Drop as Trump Signals Iran War Escalation
How to support someone who is grieving: five research-backed strategies
South Korea's Exports Hit Record High in March on AI-Driven Chip Demand
Office design isn’t keeping up with post-COVID work styles - here’s what workers really want
Gold Prices Surge as U.S.-Iran Ceasefire Talks Spark Market Optimism
The Beauty Beneath the Expressway: A Journey from Self to Service
Chinese Universities with PLA Ties Found Purchasing Restricted U.S. AI Chips Through Super Micro Servers
Nomura Upgrades PDD Holdings to Buy, Calls Stock Too Cheap to Ignore
What’s the difference between baking powder and baking soda? It’s subtle, but significant
RBI Clamps Down on Rupee NDF Activity, Banks Face Steeper Losses
RBC Capital: European Medtech Firms Show Minimal Middle East and Energy Risk Exposure
Can your cat recognise you by scent? New study shows it’s likely 



