Market Chatter: Wharf REIC Plans Divestment of Singapore Mall Properties
Wharf Real Estate Investment (HKG:1997) is eyeing the disposal of the Wheelock Place and Scotts Square malls in Singapore, Bloomberg reported Friday citing people familiar with the matter.Wharf is reportedly targeting a sale price higher than the HK$7.7 billion valuation of the properties as of end-2025, according to its recent annual report.The property investment company is aiming to expedite the sale of Scotts Square first amid problems including a high tenant turnover and low footfall, Bloomberg said, citing the people.Wharf owns the properties, located in the Orchard Road shopping district, through a unit in Singapore, according to the report.Wharf Real Estate Investment did not immediately respond to' request for a comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
