CapitaLand, Link REITs Said To Be Vying For NTUC’s $4 Billion Shopping Malls (The Straits Times)

July 21, 2022 – CapitaLand Integrated Commercial Trust (CICT) 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.

Mercatus Co-operative, a unit of NTUC that holds the properties, is working with a financial adviser on the potential sale, Bloomberg News reported last month.

Mercatus manages assets worth more than $10 billion and is one of the largest mall owners by floor space in Singapore, according to its website.

Mercatus owns and runs AMK Hub, Jurong Point and Swing By @ Thomson Plaza, and co-owns Nex.

The company also has strata-titled assets within retail malls and at sites in various locations across Singapore, and One Marina Boulevard, a 31-story office building.

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