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Temasek overtakes GIC as Singapore's biggest property firm

PropertyGuru

Singapore's top real estate investors have been revealed in the latest rankings published by Estates Gazette. (Photo: Someformofhuman/Wikimedia Commons)

Temasek Holdings has been named the biggest real estate firm in Singapore, with total assets under management at US$39.9 billion, according to the latest Estates Gazette ranking, which pulled together the worlds top 100 investors.

The state-linked investment firm overtook the sovereign wealth fund GIC, last years top performer, for the number one spot. Temasek has stakes in major local and regional players such as CapitaLand, M+S, Mapletree and Pulau Indah Ventures.

CapitaLand took second place with US$33.3 billion of assets, followed by GIC with US$22.4 billion, Global Logistics Properties (US$16.7 billion) and City Developments Limited (US$14.9 billion). All five companies have a combined asset value of a whopping US$127.2 billion.

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To make it on the list this year, firms have to own property valued at more than US$12.4 billion, said Estates Gazette.

This year, the top 100 companies owned a total of US$3.6 trillion worth of property, a US$400 billion increase over last years value.

Canada-based Brookfield Asset Management, remains the global leader, with almost US$130 billion of assets.

Samantha McClary, Head of Content at Estates Gazette, said: Our Global 100 list, which is based on real assets rather than property securities and debt, shows how big a business the international real estate market is.

The list, now in its third year, continues to grow with new firms appearing every year. The appearance of more property owners from new locations shows just how global a playground the real estate industry is.

Read the full list here.

Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg

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