<div id="readability-page-1"><p>Singapore-listed Hongkong Land purchased the stake from Warburg Pincus-backed ESR Group for SGD541 million ($422 million) in cash, it said in a recent statement.</p><table><tbody><tr><td><img src="https://imageproxy.pbkrs.com/https://vcdn1-english.vnecdn.net/2026/03/21/AFP-20170727-032-18344984jpg-v-4877-5840-1774061221.jpg/query-ZHByPTEmZml0PWNyb3AmaD0wJnE9MTAwJnM9Sm13YWRoN2NjT3lCaXdhc2tEQnZUUSZ3PTY4MA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="680" height="487" original-src="https://imageproxy.pbkrs.com/https://vcdn1-english.vnecdn.net/2026/03/21/AFP-20170727-032-18344984jpg-v-4877-5840-1774061221.jpg/query-ZHByPTEmZml0PWNyb3AmaD0wJnE9MTAwJnM9Sm13YWRoN2NjT3lCaXdhc2tEQnZUUSZ3PTY4MA"/></td> </tr><tr><td> <p>Suntec City Office in Singapore. Photo by SPH Media via AFP</p> </td> </tr></tbody></table><p>It added that rental income from Suntec REIT’s prime assets in the city-state will help diversify its earnings profile.</p><p>&#34;The acquisition enables Hongkong Land to deploy recently recycled capital into prime, income producing commercial assets predominantly located in Singapore,&#34; it said.</p><p>&#34;This aligns with the company’s positive outlook and conviction in Singapore’s prime commercial property market.&#34;</p><p>&#34;The transaction reinforces investor confidence and positive outlook on Grade A office assets in Singapore amidst tight demand-supply dynamics,&#34; said Vijay Natarajan, an analyst at RHB Bank in Singapore, as reported by <em>Forbes</em>.</p><p>&#34;A prolonged war in the Middle East could slow down the economy and increase inflation, which will have a negative impact on office demand. However, this could be potentially offset by increased demand from Singapore’s rising safe haven appeal.&#34;</p><p>Investor appetite for Singapore commercial real estate remains strong, with the city-state ranking among the world’s most expensive markets.</p><p>Investment volumes in hotels, offices and retail properties rose 18% to SGD33.9 billion in 2025, the highest level in eight years, driven by lower interest rates, according to consultancy CBRE.</p><table><tbody><tr><td><img src="https://imageproxy.pbkrs.com/https://vcdn1-english.vnecdn.net/2026/03/21/ben-keswick1-2026-03-21T02-42-4694-3045-1774061221.png/query-ZHByPTEmZml0PWNyb3AmaD0wJnE9MTAwJnM9S0g1ZUxwQnhEcEgxMW1PekVYc2pQdyZ3PTY4MA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="680" height="423" original-src="https://imageproxy.pbkrs.com/https://vcdn1-english.vnecdn.net/2026/03/21/ben-keswick1-2026-03-21T02-42-4694-3045-1774061221.png/query-ZHByPTEmZml0PWNyb3AmaD0wJnE9MTAwJnM9S0g1ZUxwQnhEcEgxMW1PekVYc2pQdyZ3PTY4MA"/></td> </tr><tr><td> <p>Ben Keswick, executive chairman of Jardine Matheson, which controls Hongkong Land Holdings. Photo courtesy of Jardine Matheson</p> </td> </tr></tbody></table><p>Suntec REIT’s portfolio includes office and retail assets across Singapore’s central business district, including a one-third stake in both Marina Bay Financial Centre (Towers 1 &amp; 2) and One Raffles Quay.</p><p>The Singapore Central Private Real Estate Fund, majority owned by Hongkong Land, also holds a one-third stake in these properties.</p><p>&#34;Hongkong Land’s stake acquisition in Suntec REIT signals that despite heightened geopolitical risk from the Middle East, institutional capital continues to view Singapore’s prime commercial property as a safe haven, income-generating asset class,&#34; said Darren Chan, an analyst at Phillip Securities.</p><p>&#34;Rather than retreating, sophisticated investors like Hongkong Land are deploying capital, albeit more selectively, through liquid, asset-light structures such as REITs, reflecting cautious but intact conviction, he added.</p><p>Tang Organization – controlled by tycoon Gordon Tang and his wife Celina – is the largest shareholder of Suntec REIT with a 36% stake and fully owns the REIT’s manager.</p><p>In an interview with <em>The Business Times</em> in early March, Hongkong Land chief financial officer Craig Beattie said that having recycled 90% of its $4 billion target and cut net debt by 30%, the group now has ample balance-sheet headroom for new investments.</p><p>Hongkong Land manages more than $50 billion in assets, with flagship properties in Hong Kong, Singapore and Shanghai. The company focuses on developing, owning and managing mixed-use real estate across Asian gateway cities, spanning office, luxury retail, residential and hospitality segments, with a footprint exceeding 1.8 million square meters.</p><p>It is controlled by Jardine Matheson, the nearly two-century-old Hong Kong-based conglomerate and flagship of the Keswick family, which ranked 22nd among the 50 richest Hong Kong billionaires this year with a net worth of $4.6 billion, according to <em>Forbes</em>.</p></div>

ESR 房地產投資信託

香港置地控股

9A4U

X1SU

新達產業信託

<p>香港置地控股，由凱斯威克家族控制，已從 ESR 集團收購新達產業信託 10.8% 的股份，交易金額為 5.41 億新加坡元（4.22 億美元）。此舉旨在通過新加坡的優質商業資產實現收益多元化，儘管面臨地緣政治風險，但仍反映出對當地房地產市場的信心。分析師指出，投資者對新加坡商業房地產的需求強勁，投資額顯著上升。香港置地管理着超過 500 億美元的資產，繼續在亞洲門户城市尋求機會，強調其對產生收入的物業的戰略關注</p>

Hong Kong billionaire clan Keswick bet on Singapore property boom with $422M stake acquisition

vnexpress

ESR REIT

ESR-REIT

香港億萬富翁家族 Keswick 以 4.22 億美元收購股份，押注新加坡房地產市場的繁榮