Landsea established a private real estate fund in Singapore with an initial scale of 50 billion, aiming to reach 780 billion in 10 years

The Land Company announced the launch of its first private real estate fund, the Singapore Core Private Real Estate Fund (SCPREF), with an initial asset management scale of SGD 8.2 billion (approximately HKD 50.4 billion). This fund becomes Singapore's largest private investment platform for office properties, operating with a permanently open structure. Integrating Four Core Properties with a Target Size of SGD 15 Billion The establishment of SCPREF is the first major initiative by the Land Company since it announced its strategic transformation last October. The Land Company stated that the fund aims to establish an investment platform for acquiring high-end integrated commercial properties in Singapore by disposing of its existing quality assets to recover funds, laying the foundation for expanding its third-party capital management business, in line with its goal of reaching an asset management scale of USD 100 billion (approximately HKD 780 billion) by 2035. The Land Company will act as the fund's general partner and manager, holding a majority stake in the fund during its initial phase. Founding investors include the Qatar Investment Authority (QIA) and APG Asset Management, along with participation from a Southeast Asian sovereign wealth fund. The initial asset portfolio of the fund includes core properties such as One Asia Square (100% equity held by the fund), Marina Bay Financial Centre Towers 1 and 2 along with the retail portion (33.33% equity held by the fund), One Raffles Quay (33.33% equity held by the fund), and One Raffles Link (100% equity held by the fund). This portfolio has a leasable area of approximately 2.6 million square feet, with a total asset value of SGD 8.2 billion as of December 2025. The fund aims to expand its asset size to SGD 15 billion. The CEO of the Land Company, Si Mi Gao, stated that the launch of the Singapore Core Private Real Estate Fund once again demonstrates the company's ability to create value for shareholders through capital recovery, while also affirming the company's core value in developing prestigious integrated commercial properties in Singapore, a leading city in Asia. Secured SGD 4.1 Billion in Committed Equity, Achieving 80% of Fundraising Target The Land Company indicated that the establishment of SCPREF marks the official commencement of its asset management business. The company will simultaneously serve as the fund's investment manager and property operator, thereby expanding its sources of management fee income and establishing a long-term network of institutional investors. Currently, SCPREF has secured SGD 4.1 billion (approximately USD 3.2 billion) in committed equity, with over SGD 1.8 billion coming from third-party capital. Along with the proceeds from the earlier sale of Marina Bay Financial Centre Tower 3, the Land Company has cumulatively recovered approximately USD 3.4 billion since 2024, achieving over 80% of its USD 4 billion recovery target for 2027. The company announced an additional USD 300 million for share buybacks, increasing the total buyback amount since 2024 to USD 650 million. The buyback plan will continue until the end of June 2027, with plans to initiate it after announcing the full-year results in March next year, and all repurchased shares will be canceled