Link Asset Management Limited (Link), the manager of Link Real Estate Investment Trust (Link REIT; Hong Kong stock code: 823), announced today (Wednesday) that it has entered into agreements with Jack Investment Pte Ltd and Pangjwee Development Pte Ltd for the sale of its property interests in Swing By @ Thomson Plaza, a retail property located in Singapore, for S$250 million.

The divestment, which is priced at a premium to the most recent book valuation of the property, forms part of Link’s ongoing portfolio optimisation strategy which aims to recycle assets, where appropriate, in order to create value for Unitholders. The purchase price was S$172.5 million.

Link’s Executive Director and Chief Investment Officer, John Saunders, said: “While Link continues to focus on its core strength of retail malls in Asia Pacific and is keen to increase its exposure in Singapore, asset recycling remains an integral part of our active portfolio optimisation strategy. We regularly screen our assets to assess whether we believe we have maximised near term value with a decision to hold being effectively a decision to buy again at today’s price.”

“Swing By @ Thomson Plaza has performed well since acquisition, supported by targeted asset management initiatives undertaken by Link to improve the property’s market position and operating performance. The disposal allows Link to realise the value created through these initiatives and, where capital is deemed surplus to near term requirements, it allows us to return such capital to Unitholders,” Mr Saunders added.

The disposal is expected to be completed in the second quarter of 2026.

High resolution photos can be downloaded here. 

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About Swing By @ Thomson Plaza

Located in Singapore’s Thomson neighbourhood and directly linked to the Upper Thomson MRT station, Swing By @ Thomson Plaza is a multi-concept enclave that offers F&B, retail, entertainment and lifestyle options within the wider Thomson Plaza mall.

Located at Levels 1 and 3 of the Thomson Plaza, Swing By represents around 56% of the overall mall and houses more than 60 tenants. The most recent book valuation of the property is S$202.6 million (September 2025).

About Link Asset Management Limited

Link Asset Management Limited (Link) is a leading, independent, and fully integrated real estate investor and manager focusing on the APAC region. It manages Link Real Estate Investment Trust (Link REIT, Hong Kong stock code: 823), one of the largest REITs in Asia, and its real estate investment portfolio. Link also aims to leverage its investment management capabilities to serve as a trusted investment manager to capital partners through its business line, Link Real Estate Partners. 

Building on its strong track record over almost two decades, Link targets to deliver resilient returns and growth to its unitholders. Link offers a “REIT plus” investment case through its strategic focus on diversifying the Link REIT Portfolio across geographies and asset classes in APAC and expanding its investment management business.

Link aspires to be the trusted partner in APAC real estate sector for unitholders, capital partners, tenants, and the wider communities it serves.

For more information about Link, please visit www.laml.com.