City Developments to List REIT that Has HSBC London HQ Property

Posted on 06/04/2021

Singapore-based City Developments Limited (CDL) filed forms for an initial public offering (IPO) of a real estate investment trust with commercial assets in the U.K. to the Singapore Exchange and the Monetary Authority of Singapore. Some of the assets in the REIT include HSBC Holdings Plc’s London headquarters. City Developments seeks to raise about 500 million pounds. In addition, the Qatar Investment Authority decided to have HSBC’s London HQ building move into the REIT.

The REIT will have a portfolio size of about 1.8 billion pounds.

DBS Group Holdings and Oversea-Chinese Banking Corporation have been assisting CDL on the REIT listing.

The company’s CDL Hospitality Trusts listed in 2006 on the Singapore Exchange. CDL Hospitality Trusts owns hotel assets valued at S$ 3.1 billion, according to its website.

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