SIAS invites you to attend this dialogue to connect directly with Lendlease Global Commercial REIT regarding the acquisition of PLQ Mall and the Preferential Offering. This session provides an opportunity to seek clarity on recent developments, hear directly from Management, and make well‑informed investment decisions.

Acquisition of 30% Interest in PLQ Mall 

Lendlease Global Commercial REIT (“Lendlease REIT”) had announced the acquisition of 30% interest in PLQ Mall to achieve full ownership and control of the asset. Upon completion of the transaction, its total asset value will increase to S$4.2 billion with Singapore representing approximately 90% of the portfolio. This reflects the continued execution of Lendlease REIT’s Singapore-focused growth strategy, enhancing diversification and income stability. The enlarged portfolio will strengthen Lendlease REIT’s suburban retail focus to 65.2%. 

Post acquisition, Lendlease REIT will be able to refinance existing borrowings at the asset level, unlocking potential annual savings in all-in debt costs of approximately S$2 million. Pro forma gearing is expected to remain healthy at 37.6%. 

In conjunction, Lendlease REIT launched a preferential offering to raise approximately S$196.6 million, issuing new units at S$0.558 each. Around S$113.8 million of the proceeds will be used to finance the acquisition, with the remainder directed toward reducing debt.