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The Qatar Investment Authority (QIA) has joined Hongkong Land Holdings Limited as a founding investor in the Singapore Central Private Real Estate Fund (SCPREF), the latter’s inaugural private real estate vehicle.
With $8.2 billion Singapore dollars ($6.3 billion) in initial assets under management (AUM), SCPREF is the Asian country’s largest office‑focused private real estate fund, offering exposure to income‑generating commercial properties in the city’s central business district and Orchard Road, a statement from Qatar’s sovereign wealth fund said.
The fund is anchored by Asia Square Tower 1, an asset QIA has owned and actively invested in since 2016.
The fund’s initial portfolio comprises a 100% interest in Asia Square Tower 1, a one-third interest in Marina Bay Financial Centre Tower 1 and Tower 2 and Marina Bay Link Mall, a one-third interest in One Raffles Quay and 100% interest in One Raffles Link.
The London-listed Hongkong Land is a major property development, investment and management group.
QIA, which has AUM worth approximately $580 billion, on Monday said it plans to invest in new venture capital programmes as part of a $3 billion investment strategy.
(Writing by Brinda Darasha; editing by Bindu Rai)
