Hongkong Land Holdings Limited said on Jul, 30 2026 that its Singapore Central Private Real Estate Fund (SCPREF) has signed a definitive agreement to buy Wheelock Place, a mixed-use property on Orchard Road in Singapore, from a subsidiary of Wharf Real Estate Investment Company Limited.

The agreed purchase price is about 1.1 billion Singapore dollars, matching a recent independent valuation. The deal is SCPREF’s first acquisition since the fund was launched in Feb, 2026.

Wheelock Place comprises a 21-storey commercial tower and two basement levels that house offices, a shopping podium and car parks, with a total gross floor area of roughly 43,280 sq. m. The property has direct access to the Orchard MRT station.

Completion is targeted by the end of Aug, 2026. Upon closing, SCPREF’s assets under management are expected to rise to 9.4 billion Singapore dollars from 8.2 billion Singapore dollars at inception.

Hongkong Land will inject additional equity to maintain its majority stake in SCPREF and will receive higher management fees linked to the expanded asset base. The company said the transaction should be accretive to its underlying earnings once completed.