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JD Property, the infrastructure and asset management division of JD.Com, has teamed up with Partners Group and EZA Hill Property to create a Singapore-based real estate investment trust (REIT) valued at over USD 1 billion. The REIT is expected to be listed on the Singapore Exchange early next year and will include recently acquired logistics assets. The partners are working towards finalising the portfolio by October. The development highlights growing investor confidence in Singapore's REIT market, alongside increasing cross-border investment from Chinese and international capital.
JD Property, the infrastructure and property investment arm of JD.Com, has joined forces with Partners Group and EZA Hill Property to establish a Singapore-listed REIT expected to exceed US 1 billion in valuation. The proposed trust is scheduled for listing on the Singapore Exchange early next year and would become one of the largest REIT launches in recent years within the city-state. Advertisement
The consortium had earlier acquired four logistics properties from CapitaLand Ascendas REIT for S$306 million, roughly US 239 million. These assets are expected to form part of the new trust's portfolio. Work is currently under way to determine the final asset mix, with the partners targeting October for completion. Depending on the selected assets, the overall valuation may vary.
This initiative comes as Singapore's REIT market shows signs of recovery following a subdued period affected by higher interest rates and global uncertainty. Investor sentiment has recently strengthened, aided by improved market activity and more favourable economic conditions.
JD Property has been expanding globally and currently manages over 50 projects across nine countries, including Japan, Indonesia, and the UAE. The company's shareholder base includes Warburg Pincus, Hillhouse, Singapore's GIC, and Abu Dhabi's Mubadala. In addition to the Singapore initiative, JD Property has also filed for a Hong Kong listing, though approval for that application remains pending.
By incorporating high-value logistics assets and preparing for an early-year listing, the consortium is positioning itself strongly within a recovering market. With the final portfolio expected to be confirmed by October, the venture illustrates both the renewed strength of Singapore's REIT sector and the expanding influence of Chinese and global institutional investors in shaping regional real estate markets.
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