Named the Singapore Central Private Real Estate Fund, it is the largest office-focused private investment fund in Singapore and ranks among the biggest Asia-focused funds, the company said in a press release Tuesday.

The fund will primarily manage prime commercial properties and pursue acquisitions of commercial assets located in Singapore’s Central Business District and the Orchard Road area.

Its starting portfolio includes a 100% stake in Asia Square Tower 1; 33.3% interests in Marina Bay Financial Centre Tower 1 and Tower 2 as well as Marina Bay Link Mall; a 33.3% interest in One Raffles Quay; and a 100% interest in One Raffles Link.

The fund supports Hongkong Land’s capital recycling strategy unveiled in October 2024, aimed at redeploying funds from prime property holdings to acquire new ultra-premium integrated commercial developments in Singapore.

The company, established in 1889, targets to reach $100 billion in assets under management by 2035.

“We’re around halfway there,” said CEO Michael Smith at a virtual media briefing Tuesday, as reported by The Straits Times.

“And a lot of that $50 billion is Hong Kong Central, which we own 100% in our balance sheet. We still have a bit of a journey between now and 2035, but it’s a great start,” he said.

Singapore property investment market hit the highest in eight years in 2025, driven by lower asking prices and financing costs. Sales rose 27% to SGD34.12 billion, the highest since 2017, according to property consultancy Savills.