Link Real Estate Investment Trust (0823) has entered into an agreement to sell its property interests of Swing By @ Thomson Plaza, a retail property located in Singapore, to Jack Investment Pte and Pangjwee Development for S$250 million (HK$1.54 billion).
The disposal is expected to be completed in the second quarter of 2026.
The divestment, which is priced at a premium to the most recent book valuation of the property, forms part of Link's ongoing portfolio optimisation strategy which aims to recycle assets, where appropriate, in order to create value for Unitholders, according to the announcement published on Wednesday.
The purchase price was S$172.5 million.
"While Link continues to focus on its core strength of retail malls in Asia Pacific and is keen to increase its exposure in Singapore, asset recycling remains an integral part of our active portfolio optimisation strategy," said Link's executive director and chief investment officer, John Saunders.
He added that the disposal allows Link to realise the value created through these initiatives and, where capital is deemed surplus to near term requirements, it allows the company to return such capital to Unitholders.
