JD Property Partners to Launch USD 1B Singapore REIT

JD Property, the real estate subsidiary of Chinese e-commerce player JD.com, is partnering with Partners Group and EZA Hill Property to float a Singapore-headquartered real estate investment trust (REIT) worth over USD 1 billion. The initial public offering, likely as early as next year, will be one of the largest new additions to Singapore's REIT market in recent years.

The consortium has already acquired four logistics properties for approximately 306 million (USD 238 million), which are likely to be the initial portfolio of the REIT. The fund will deal largely in industrial and logistics assets in Singapore with a possible push into other Southeast Asia markets.

“This scheduled REIT demonstrates increasing faith in Singapore's REIT market and notes the increasing presence of Chinese investment in the region," a source close to the deal stated.

Key Highlights

• JD Property, Partners Group, and EZA Hill to launch a USD 1B Singapore-headquartered REIT, one of the largest in recent years
• Initial portfolio includes four logistics assets worth USD 238M, with plans to expand into Southeast Asia’s industrial and logistics markets
• Move reflects growing Chinese investment in Singapore’s REIT sector and positions JD Property for long-term growth in Asia

Final asset mix is being finalized, with the structure of the REIT aimed to be completed by October. Depending on the composition, the ultimate valuation could be higher than the initial projections.

Also Read: The Role of Singapore in Southeast Asia's Tech Scene

For JD Property, the launch marks a big move in taking advantage of its rapidly expanding logistics real estate platform beyond China. For Singapore, it puts pace into a rejuvenating market that just welcomed the biggest listing since 2021.

"This listing is not just a case of raising capital. It is about positioning for long-term growth in logistics and industrial assets in Asia," another person in the talks said.