Link REIT to acquire 50.1% stake in Singapore's Eastpoint Mall

Link REIT has announced a strategic partnership with Income Insurance to acquire a 50.1% stake in Eastpoint Mall in Singapore for 239.5 million Singapore dollars. Income Insurance will retain the remaining 49.9% interest. Under the agreement, Link REIT will serve as the asset and property manager for the mall.

The transaction, which is expected to be completed in the first quarter of 2027, includes plans for phased asset enhancement projects starting that same year. Eastpoint Mall is a retail property located in eastern Singapore with a leasable area of approximately 214,000 square feet, directly connected to Simei MRT station.

Link REIT will fund the acquisition through internal resources and debt financing. Following the completion of this deal, the group will manage three retail assets in Singapore: Eastpoint Mall, Jurong Point, and Hougang Mall.

Income Insurance stated the sale is part of a capital recycling strategy to reallocate funds into areas that create long-term value for policyholders. Link REIT's Chief Investment Officer, Song Junyan, noted that while the group remains focused on selling non-core assets, this specific investment opportunity was attractive due to its capital efficiency and growth potential.