APG (All Pension Group, Algemene Pensioen Groep), a Dutch pension investment company based in the Netherlands, which is a subsidiary of the largest pension fund in the Netherlands, and Qatar Investment Authority (QIA) are reported by PERE to be the anchor investors in Hongkong Land's Singapore Central Private Real Estate Fund (SCPREF).
SCPREF is expected to be the largest Singapore private real estate fund with more than $8 billion of assets under management (AUM) at inception. The fund will be solely focused on managing prime commercial property assets in Singapore, creating a private investment platform that will own and operate some of Singapore’s most valuable real estate assets in terms of location, tenants, and resilience of rental income.
SCPREF is expected to be seeded by Hongkong Land’s Singapore commercial portfolio and other assets acquired by the fund on inception and over time, creating future growth in earnings and AUM, as well as introducing a new earnings stream in terms of fee income for the Company.
On Dec 12, 2025, Hongkong Land said it would transfer its one-third interest in One Raffles Quay and Marina Bay Financial Centre Towers 1 and 2 into SCPREF together with its 100% interest in One Raffles Link.
Combined, these assets have a total attributable property value of $3.9 billion (US$3.0 billion) as of June 30 2025 and contribute approximately 3.2 million sq ft of prime office space in Singapore on a 100% basis. SCPREF is expected to launch with AUM more than double that of Hongkong Land’s seed portfolio, Hongkong Land had said on Dec 12.
The establishment of SCPREF is in line with the Company’s strategy to grow its AUM to US$100 billion by 2035, with meaningful participation from third-party capital investors, Hongkong Land added.
