SG Property Intelligence

Research evidence excerpt

SG Property Intelligence

J P M O R G A N Asia Pacific Equity Research

13 July 2026

Wharf REIC exploring a sale of Wheelock Place and

Scotts Square

Wharf REIC (1997 HK, covered by Karl Chan) is exploring a sale of its Singapore/ASEAN Property and

Orchard Road Singapore portfolio, aiming to exit Wheelock Place and Scotts REITs

Square at prices above their end-2025 combined valuation of HK$7.7 bn (about Terence M Khi AC

US$982 m). It plans to divest Scotts Square first, which has seen higher tenant (65) 6882-1518

turnover and weaker footfall despite its prime location, with CBRE currently terence.ml.khi@jpmorgan.com

marketing it around S$400 m after an earlier S$450 m guide in early 2024 did not Mervin Song, CFA AC

result in a deal. Wheelock Place, a larger mixed retail and office asset with a lease (65) 6882-7829

expiring in 2089, is said to be pitched at more than S$1.1 bn. (Source: Bloomberg mervin.song@jpmorgan.com

J.P. Morgan Securities Singapore Private Limited/

Finance L.P.) J.P. Morgan Securities (Asia Pacific) Limited/ J.P.

Morgan Broking (Hong Kong) Limited

Dunearn House drew about 5,900 visitors during its preview weekend, ahead

of its July 25 sales launch. Joint developers Frasers Property, CSC Land Group and

Sekisui House flagged interest from upgraders, families and investors, supported

by its D11 location and positioning as the first residential project within the Bukit

Timah Turf City precinct. The 99-year project has 380 units (2BR to 4BR), with

indicative prices from S$1.475m at S$2,799 psf (2BR), S$2.597m at S$2,978 psf

(3BR) and S$3.588m at S$3,030 psf (4BR). (Source: EdgeProp)

Companies

Celine Tang has been appointed chairman and non-executive director of

Suntec REIT’s manager, and will also join the nominating and remuneration

committee.