August 28, 2025

Hold onto your hats, real estate fans! JD Property, the property investment arm of Chinese e-commerce giant JD.Com, is cooking up a storm. Along with Swiss firm Partners Group and Asian-backed EZA Hill Property, it is planning to launch a sparkling new real estate investment trust (REIT) in Singapore. This starry new REIT could be worth more than $1 billion and might hit the Singapore Exchange as early as next year, sources close to the project revealed. This is juicy news because it hasn’t been told before! Why is this exciting? If all goes well, this will be one of the biggest new players entering Singapore’s REIT market in over a year. It shows strong faith in the city’s REIT sector and highlights how Chinese money is playing a bigger role in Southeast Asia’s booming property game. Just this month, the trio—JD Property, Partners Group, and EZA Hill—bought four big logistics properties from CapitaLand Ascendas REIT for a cool S$306 million (about $238.56 million). These assets will likely form part of the new REIT’s core. Right now, these investors are busy figuring out exactly which properties will make the cut. The REIT team didn’t respond to questions from Reuters, and CapitaLand kept quiet about who bought those logistics assets. But insiders say the plan is to grow the REIT beyond Singapore, into other parts of Southeast Asia, snapping up more industrial and logistics properties. The aim is to get everything ready by October, although the final value might shift depending on the mix of assets. This news brightens the mood in Singapore’s REIT market, which had slowed down since 2021 because of rising interest rates and shaky global economics. The recent launch of NTT DC REIT, the biggest since 2021, and the soaring stock index since July, show investors are getting excited again. Singapore is working hard to boost its marketplace, and it looks like the efforts are paying off! A bit about the partners: EZA Hill is backed by Rava Partners from Hillhouse’s real assets division and is busy snapping up logistics and industrial buildings all over Southeast Asia. Meanwhile, JD Property, mostly owned by JD.Com, is not a small fish either. It runs over 50 projects in nine countries, including Japan, Indonesia, and the UAE. Big names like Warburg Pincus and Hillhouse invest with them, and they’ve teamed up with top sovereign wealth funds such as Singapore’s GIC and Abu Dhabi’s Mubadala. And just to add more spice, JD Property is also eyeing a separate Hong Kong IPO, but the timing is still hush-hush. They applied back in March 2023 but are still waiting for the green light from regulators. Clearly, JD.Com’s property arm is stirring up the Asian property pot! Will their Singapore REIT be the next big thing? Stay tuned as this story unfolds.

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Tags: Jd property, Reit, Singapore exchange, Partners group, Eza hill, Real estate investment,