Hongkong Land up 5.2% on launch of S$8.2 billion Singapore real estate private fund
It has injected its stakes in Marina Bay Financial Centre Towers 1 and 2, Marina Bay Link Mall and One Raffles Quay into the fund
[SINGAPORE] Shares of Hongkong Land rallied in early trade on Wednesday (Feb 4), after it launched a S$8.2 billion Singapore private fund for commercial real estate.
The counter rose US$0.45 or 5.2 per cent to US$9.12 on Wednesday, having risen 4.7 per cent the day before when the fund was announced.
As at 9.13 am, it eased to US$8.97, still up by US$0.30 or 3.5 per cent, with more than 1.2 million shares traded.
Hongkong Land’s new S$8.2 billion Singapore Central Private Real Estate Fund is the country’s largest commercial real estate private fund.
It has injected its one-third stakes in Marina Bay Financial Centre Towers 1 and 2, Marina Bay Link Mall and One Raffles Quay into the fund.
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