HONG KONG – The last Singapore mall owned by Wharf Real Estate Investment is being sold to local father-and-son property moguls, marking the end of the Hong Kong firm’s presence in the city state.
The company, majority-owned by billionaire Peter Woo, is selling Scotts Square in the premier Orchard Road shopping district for $310 million, according to people familiar with the matter.
Real estate investors Raj Kumar and Kishin RK are the buyers, the people said, asking not to be identified because the matter is private.
The father-son duo oversee office towers, malls and hotels across Singapore, where they are known for acquiring and rejuvenating prime commercial properties.
Wharf did not immediately respond to an e-mailed request for comment. Kishin RK declined to comment.
With Scotts Square containing about 12,160 sq m of retail space, the deal translates to a price of $2,368 per square foot.
Bloomberg earlier reported on the firm’s plans to exit its Singapore portfolio, which was valued at HK$7.7 billion (S$1.2 billion) at the end of 2025.
The other asset, an iconic mall known as Wheelock Place, has been sold to a fund backed by Hongkong Land Holdings in a $1.1 billion deal announced in July.
The latest transaction marks the end of a long sales process for Scotts Square, which was originally marketed for S$450 million in 2024. BLOOMBERG
