Hongkong Land Holdings—controlled by the Keswick family’s Jardine Matheson Holdings—has bought a 10.8% in Suntec Real Estate Investment Trust, betting Singapore’s prime commercial properties will stay resilient despite the escalating conflict in the Middle East.The Singapore-listed builder acquired the stake from Warburg Pincus-backed ESR Group for S$541 million ($422 million) in cash, Hongkong Land said in a statement late Thursday. Rental income from Suntec REIT prime properties in the city-state will help diversify Hongkong Land’s earnings profile, it said.

“The acquisition enables Hongkong Land to deploy recently recycled capital into prime, income producing commercial assets predominantly located in Singapore,” Hongkong Land said in a statement. “This aligns with the Company’s positive outlook and conviction in Singapore’s prime commercial property market.”

Hongkong Land said its investment in Suntec REIT was at a discount to its independently appraised net asset value of S$2.03 per share at end-2025 and it recognizes the REIT’s strategic potential to unlock........

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