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.


Trump, Canada Reach Gordie Howe Bridge Deal Ahead of July 27 Opening
Disaster or digital spectacle? The dangers of using floods to create social media content
OpenAI Executive Fidji Simo to Step Down Amid Health Challenges Ahead of IPO
The American mass exodus to Canada amid Trump 2.0 has yet to materialize
Want to cut your energy bills? Here’s how five experts are doing it
Oppenheimer Sees CNH Industrial as Top 2026 Agriculture Stock Pick on Dealer Consolidation Strategy
SK Hynix Prices Record U.S. ADR Offering at $149 After $200 Billion Investor Demand
European Regulators Clash With U.S. Treasury Over Private Credit Transparency
Elon Musk Says Anthropic Leads AI Race as Claude Models Challenge OpenAI
Nippon Paint Reportedly Offers Up to €7.5 Billion for Akzo Nobel Decorative Paints Business
The ghost of Robodebt – Federal Court rules billions of dollars in welfare debts must be recalculated
BHP Faces Port Hedland Strike Threat as Iron Ore Export Risks Grow
US-Iran Strikes Escalate as Strait of Hormuz Crisis Pushes Oil Prices Higher
Gold Prices Set for Weekly Loss as Iran Tensions and Fed Rate Outlook Weigh
BOJ May Raise Japan Growth Forecast While Keeping Focus on Inflation Risks 



