• Acquisition aligns with Link’s focus on retail assets in Asia Pacific, provides both diversification and growth
• Asset enhancement initiatives planned to sharpen its positioning as the essential community hub offering enhanced shopping experiences
• Link will serve as the asset and property manager of the mall
• Income Insurance will retain a 49.9% stake in Eastpoint Mall, remaining committed to the mall’s long-term growth
• Link continues to focus on the sale of other non-core assets

Link, the manager of Link Real Estate Investment Trust (Link REIT; Hong Kong stock code: 823), and Income Insurance Limited (“Income Insurance”) today  announced a new partnership to drive the next phase of growth of Eastpoint Mall in Singapore. Link REIT will acquire a 50.1% interest in the mall from Income Insurance for a total consideration of S$239.5 million. Income Insurance will retain the remaining 49.9% interest. Link will serve as Eastpoint Mall’s asset manager and property manager.

Link will work closely with Income Insurance, as advised by CapitaLand Investment (CLI), to execute the transaction and develop an asset enhancement strategy, unlocking the value-creation potential of Eastpoint Mall. The partnership draws on both parties’ deep understanding of community malls in Asia Pacific as well as extensive experience in Singapore’s real estate market.

For Income Insurance, the transaction represents a considered and strategic decision to optimise its property portfolio in line with its core return objectives and long-term sustainability goals. Pursuant to the advice of its real estate investment manager, CLI, appointed in April 2026, the transaction enables Income Insurance to re-cycle capital to work where it can best serve policyholders over the long term. 

John Saunders, Link’s Executive Director and Chief Investment Officer, said: “We are primarily focused on the divestment of non-core assets, however, this is a compelling and capital efficient investment which underscores Link’s focus on its core strengths in owning and actively managing retail assets across Asia Pacific.”

Ellina Chia, Link’s Head of Singapore Regional Centre, said: “We are delighted to be partnering with Income Insurance and further growing our retail asset management business. We see opportunities to unlock further value through active asset management and targeted asset enhancement initiatives which will strengthen Eastpoint Mall’s positioning and relevance within the local community.”

David Chua, Chief Investment Officer, Income Insurance, said: “Eastpoint Mall has long served as an important retail and community landmark in the eastern part of Singapore and Income is pleased to continue our interests in its next phase of growth. Through our retained significant stake, we will collaborate with Link to support the rejuvenation of Eastpoint Mall and its surrounding community. This reflects our focus on creating long-term value for our policyholders while continuing to serve our customers and Singaporeans.”

Upon completion of the transaction, which is expected to take place in the first quarter of 2027, Link and Income Insurance will work together to ensure a smooth transition of the mall’s asset management and operations. The partners will also undertake a phased asset enhancement initiative (AEI), with works expected to commence in 2027. During the AEI, Eastpoint Mall will remain open and continue to serve the community.

Following the completion of the transaction, Link will manage three retail assets in Singapore, namely Eastpoint Mall, Jurong Point, and AMK Hub*.

Directly connected to Simei MRT station, Eastpoint Mall is a suburban retail property in eastern Singapore, with approximately 214,000 square feet of net lettable area. 

Link will fund the acquisition through internal resources and debt facilities. They were advised by Jones Lang LaSalle (JLL) on this transaction as real estate brokers.

*Link provides asset and property management service for AMK Hub, a suburban retail mall under Mercatus’ ownership.