Hongkong Land Launches $6.5B Singapore CRE Fund (SCPREF), Part of Strategic Fund Management Pivot

Hongkong Land (HK) launched Singapore’s largest private real estate fund, the Singapore Central Private Real Estate Fund (SCPREF), with an initial investment of about SGD 8.2B ($6.5B). The fund targets prime commercial assets in the city’s central business district and is open-ended, aiming a valuation of $15B. SCPREF’s initial portfolio includes Asia Square Tower 1, One Raffles Link, Marina Bay Link Mall, and Towers 1 and 2 of the Marina Bay Financial Center. Participating investors include Qatar Investment Authority and APG Asset Management, with an additional established Southeast Asian sovereign wealth fund also on board. The move is part of CEO Michael Smith’s pivot toward fund management and commercial properties, with Hongkong Land phasing out less-core residential development. Hongkong Land shares fell 0.6% on Feb. 4, 2026, after a recent rally of more than double over 12 months. Singapore’s property sales rose 27% in 2025 to $26.9B, the highest since 2017, supporting the developer’s outlook on absorption and limited new supply in the CBD.