Published: 22 October 2025

Tigere Property Fund (Tigere REIT) has announced plans to expand its real estate portfolio through the acquisition of two prime retail assets, the Greenfields Retail Centre and Phase 1 of Zimre Park Retail Centre, in a deal valued at approximately US$25.1 million.

The acquisitions are subject to unitholder approval and will be fully financed through the issuance of 770.5 million new Tigere REIT units, marking the fund's second major purchase since its initial public offering (IPO). This follows the earlier acquisition of Highland Park Phase 2.

According to Tigere REIT, the move aligns with its strategy of securing high-quality, income-generating properties supported by long-term, US dollar-denominated leases, which underpin stable returns and capital growth for investors.

The combined net asset value (NAV) of the target properties informs the total acquisition consideration. Upon completion, Tigere REIT's total units in issue will rise to 1.84 billion, with the newly issued units representing 41.8% of the enlarged unit base.

The implied issuance price per unit for the transaction is US$3.26 cents, reflecting a 2.536% premium over the REIT's NAV per unit of US$3.18 as of June 30, 2025.

The Greenfields Retail Centre, acquired on a leasehold basis, is the larger component of the transaction. Developed from December 2024, the centre spans 14,000m² of gross lettable area (GLA) and hosts 54 tenants, currently fully occupied.

Tigere REIT said the acquisitions will strengthen its portfolio of prime retail assets, supporting consistent income streams and long-term growth for investors.
- online

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