Brookfield Asset Management has entered the Singapore real estate market with a S$535.3 million (US$413 million) acquisition of three high-tech properties, marking its first direct investment in the city-state.
The deal involves the purchase of two business parks—The Strategy and The Synergy—located in the International Business Park near Jurong Lake District, Singapore’s upcoming second central business district, along with a high-tech industrial complex in Woodlands Central.
The assets span a combined gross floor area of approximately 1.8 million square feet and offer strategic connectivity via major expressways and MRT stations.
The properties are being acquired from Mapletree Industrial Trust, a Singapore-listed real estate investment trust focused on data centers and industrial assets.
The acquisition gives Brookfield a foothold in Singapore’s high-tech R&D real estate sector, a segment it sees as benefiting from long-standing government support and a robust base of multinational and domestic companies.
Brookfield Managing Partner and Head of East Asia Real Estate Andrew Burych said the firm holds strong conviction in Singapore’s role as a strategic manufacturing and innovation hub for Southeast Asia.
Brookfield has maintained a presence in Singapore since 2014, with long-term partnerships involving Singaporean investors across real estate, infrastructure, private equity, and renewable energy.
In 2022, the firm launched Brookfield Oaktree Wealth Solutions in the city to cater to private wealth clients.
The acquisition aligns with Brookfield’s global investment strategy centered around three mega themes: decarbonization, digitalization, and deglobalization.
The firm continues to seek opportunities in Asia Pacific where it can deploy operational expertise, support portfolio company growth, and co-invest alongside institutional partners.
Business News Asia