Keppel Land to acquire 75% stake in retail management firm Array Real Estate

This would be one of the largest retail portfolios in Singapore.

Keppel Land Limited has inked joint venture agreement with Hong Kong-based retail management firm Array Holdings through the acquisition of a 75% stake in Array Real Estate.

Array has a strong track record in the development, management and marketing and leasing of retail malls. Their clients include property owners and property funds in Singapore and the region.

Its senior management team has collectively played key roles in the development and/or mall management of approximately three million square feet of retail space, including Jurong Point Shopping Centre, Heartland Mall, Century Square, Tampines One, Hougang Mall, Tiong Bahru Plaza, White Sands, Liang Court, and Taimall in Taiwan.

Collectively, this would be one of the largest retail portfolios in Singapore. The transaction is expected to be completed in January 2015.

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