---
title: "Hong Kong-listed Link REIT sells retail space in one of Singapore’s earliest suburban malls for $196M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/282479930.md"
description: "Hong Kong-listed Link Real Estate Investment Trust (REIT) has sold its retail space at Thomson Plaza in Singapore for S$250 million (US$196 million). The asset, named Swing By @ Thomson Plaza, is being sold to Jack Investment and Pangjwee Development at a 23% premium to its book value. This sale is part of Link's strategy to optimize its portfolio and increase exposure in Singapore. Following the divestment, Link's Singapore portfolio will include AMK Hub and Jurong Point. Link REIT is Hong Kong's largest listed REIT with a portfolio valued at HK$217 billion."
datetime: "2026-04-13T03:22:23.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/282479930.md)
  - [en](https://longbridge.com/en/news/282479930.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/282479930.md)
---

# Hong Kong-listed Link REIT sells retail space in one of Singapore’s earliest suburban malls for $196M

The asset, called Swing By @ Thomson Plaza, is being sold to Jack Investment and Pangjwee Development. It sits on the first and third levels of the mall and has 49 years left on its tenure.

It is being sold at a 23% premium to its latest book value of S$202.6 million and about 45% above its acquisition price of S$172.5 million, according to _The Edge Singapore_.

The REIT bought the retail space, together with Jurong Point, another suburban shopping center, from NTUC Enterprise as it announced its first foray into Singapore’s market in late 2022, _The Straits Times_ reported.

Swing By @ Thomson Plaza in Singapore. Photo from Link REIT's website

The sale of Swing By @ Thomson Plaza, slated for completion in the second quarter of this year, is part of Link’s ongoing strategy to optimize its portfolio by recycling assets where appropriate to generate value for unitholders, according to a company statement issued on Wednesday.

"While Link continues to focus on its core strength of retail malls in Asia Pacific and is keen to increase its exposure in Singapore, asset recycling remains an integral part of our active portfolio optimization strategy," John Saunders, Link’s executive director and chief investment officer, said in the statement.

"We regularly review our assets to determine whether near-term value has been fully realized, with any decision to retain an asset effectively equivalent to buying it again at current market prices."

Following the divestment, Link’s Singapore portfolio will comprise AMK Hub and Jurong Point, per _The Business Times_.

Link is Hong Kong’s largest listed REIT, with a portfolio of 129 properties in the city. The portfolio, valued at HK$217 billion (US$27.7 billion) as at the end of September 2025, includes 9 million square feet (836,127 square meters) of retail internal floor area, alongside the Quayside office tower and roughly 57,000 parking spaces.

Developed by lender DBS decades ago to serve neighborhoods away from the city, Thomson Plaza was one of Singapore’s pioneering suburban malls. Opened in 1979 with much fanfare, it has since remained a well-known community hub for residents in the area, according to the bank’s website.

### Related Stocks

- [00823.HK](https://longbridge.com/en/quote/00823.HK.md)

## Related News & Research

- [Link Real Estate Investment (LKREF) Receives a Hold from Goldman Sachs](https://longbridge.com/en/news/283482015.md)
- [Bought in 2023 for $172.5m, sold for $250m — Thomson Plaza retail block deal explained](https://longbridge.com/en/news/282308714.md)
- [CMC Markets Streamlines Singapore Operations](https://longbridge.com/en/news/285336428.md)
- [14:13 ETBoutique Brokerage Alta Real Estate Wins REBNY's 2026 Residential Deal of the Year for Times Square Penthouse Sale at The Platinum](https://longbridge.com/en/news/285597036.md)
- [Etsy (NYSE:ETSY) CFO Charles Baker Sells 2,030 Shares](https://longbridge.com/en/news/285355100.md)