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Capitaland, Link REIT vying for NTUC's $4 bil portfolio of malls

Bloomberg7/21/2022 04:53 PM GMT+08  • 2 min read
Capitaland, Link REIT vying for NTUC's $4 bil portfolio of malls
Jurong Point, one of the malls under Mercatus Co-operative Ltd., a unit of NTUC that holds the properties / Photo: The Edge Singapore
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Capitaland Integrated Commercial Trust and Link Real Estate Investment Trust are among bidders vying for NTUC Enterprise Co-operative’s $4 billion portfolio of shopping malls in Singapore, people with knowledge of the matter said.

CICT is sounding out sources of financing for the prospective transaction, while Hong Kong’s Link REIT is working with an adviser on a potential bid, said the people, who asked not to be identified as the information is private.

The assets are also drawing interest from other players in Singapore including Frasers Property, the people said. Non-binding bids are due by the end of this month, they added.

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