Singapore, Jan 30, 2026, 15:10 SGT — Regular session
- Hongkong Land shares held firm at US$8.48 during afternoon trading in Singapore
- Report identifies APG and Qatar Investment Authority as anchor investors in the upcoming Singapore fund
- The company revealed plans to repurchase and cancel 175,000 shares
Shares of Hongkong Land Holdings Ltd (HKLD.SI) stayed firm on Friday, lingering just under a 52-week peak of US$8.54. A report revealed APG and Qatar Investment Authority as anchor investors in its upcoming Singapore private property fund. The stock last changed hands at US$8.48, marking a roughly 96% gain over the past 12 months. (StockAnalysis)
The anchor-investor discussion comes at a crucial juncture for the company. Hongkong Land is pushing to pivot toward a fee-driven approach, focusing on managing assets for external investors instead of relying solely on rent and property sales.
Real estate sentiment has turned jittery again, with investors quick to jump on any sign of easier financing or steadier cash flows. Hong Kong’s private home prices climbed 3.3% in 2025, marking the first yearly increase since 2021. Analysts say the next move depends largely on how fast rates get cut and overall risk appetite. Eddie Kwok from CBRE anticipates a 3%–5% rise in 2026, while Morgan Stanley’s Praveen Choudhary projects a 10% gain, according to Reuters.
In December, Hongkong Land announced plans to launch the Singapore Central Private Real Estate Fund, or SCPREF, managing over S$8 billion (around $6.2 billion) in assets under management (AUM). The company will transfer stakes in Marina Bay Financial Centre Towers 1 and 2, along with One Raffles Quay, into the fund. One Raffles Link will also be moved into the vehicle, following the sale of its interest in MBFC Tower 3 to Keppel REIT for nearly S$1.5 billion. (Reuters)
Some investors have raised eyebrows over Hongkong Land’s decision to opt for a private fund instead of a listed REIT — which trades like a stock and typically distributes most income as dividends across many markets. Gordon Marsden, head of capital markets Asia Pacific at Cushman & Wakefield, said the private fund route offers investors more flexibility to “develop, package and exit” assets. He added: “Overall, that is a positive for the market.” (The Edge Singapore)
Hongkong Land continued its share buyback, according to a regulatory notice dated Jan. 29. The company repurchased 175,000 shares on Jan. 28, paying between US$8.22 and US$8.46 per share, with a weighted average price of US$8.3609. It also confirmed plans to cancel these shares.
Traders see a familiar setup: buybacks provide a safety net, paired with a longer bet that a shift in rates could boost property values and deal flow. Yet, both factors carry their own complications.
A rally sparked by rate cuts can quickly lose steam if those cuts come too late, or if developers continue flooding the market with discounted new flats that weigh on resale values. Hongkong Land faces the challenge of turning its Singapore platform into steady fee income without assuming risks it can’t accurately price.
The other question is when execution will happen. Cornerstone investors provide some support, but the real challenge lies in getting more institutions to agree on terms that work for everyone — and whether seed portfolio valuations can stay steady amid a volatile market.
Investors are keeping an eye on any news about SCPREF’s fundraising. More immediately, Hongkong Land’s earnings report on March 5 will be key for clues on capital returns and asset valuations. (TradingView)
