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.


BHP Faces Port Hedland Strike Threat as Iron Ore Export Risks Grow
Why have so few atrocities ever been recognised as genocide?
Nippon Paint Reportedly Offers Up to €7.5 Billion for Akzo Nobel Decorative Paints Business
Japanese Yen Rises as Pension Fund Plan and BOJ Rate Hike Bets Weigh on Dollar
SK Hynix’s $28 Billion U.S. Share Sale Draws Massive Demand Amid AI Chip Boom
Booked to travel through the Middle East? Here’s why you shouldn’t cancel your flight
Elon Musk Says Anthropic Leads AI Race as Claude Models Challenge OpenAI
Dollar Eases as Middle East Conflict, Fed Outlook and Japan Pension Policy Drive FX Markets
Time to buy local: war fuel price shocks reveal the folly of a long food supply chain
Deutsche Bank Fined A$2 Million by ASIC Over OTC Derivatives Reporting Errors
UBS Starts CarTrade Tech With Buy Rating, Sees Strong Earnings Growth and ₹4,000 Target
Columbia Student Mahmoud Khalil Fights Arrest as Deportation Case Moves to New Jersey
EU Weighs New Trade Restrictions on Israeli West Bank Settlements
Wall Street Rises as SK Hynix’s Record Nasdaq Debut Steals Spotlight Ahead of U.S. CPI Data
Muji Owner Ryohin Keikaku Stock Soars After Raising Full-Year Earnings Forecast
What’s the difference between baking powder and baking soda? It’s subtle, but significant 



