Wharf Real Estate Investment Company (1997) is considering selling its property portfolio located on Orchard Road, Singapore's premier shopping district, Bloomberg reported, citing people familiar with the matter.
The people said Wharf REIC is seeking to sell its Wheelock Place and Scotts Square shopping malls.
According to the company's latest annual report, these assets were valued at a total of HK$7.7 billion as of the end of 2025. However, sources said Wharf REIC is seeking a higher price for the sale.
According to the company's website, the company acquired the property portfolio at the end of 2019. Wheelock Place features retail shops, services, and dining options spread across seven floors within a conical architectural design. Numerous large multinational corporations' offices are set inside the office tower above the podium mall.
Scotts Square, located just minutes from Wheelock Place, is a four-story shopping mall with tenants including designer brands, specialty service outlets, and a variety of upscale restaurants.
