HK tycoon-backed Wharf exits Singapore with $310m sale of Scotts Square

Hong Kong-based Wharf Real Estate Investment has sold its last remaining Singapore mall, Scotts Square, to local father-and-son property moguls Raj Kumar and Kishin RK, signaling the end of its presence in the city state. The majority-owned company by billionaire Peter Woo, Wharf, is divesting Scotts Square in the prestigious Orchard Road shopping district for $310 million, according to sources familiar with the deal.

The duo are renowned for their acquisition and revitalization of prime commercial properties in Singapore, which includes office towers, malls, and hotels. Wharf has not yet responded to requests for comment on the sale. Kishin RK, however, declined to provide any additional information. Bloomberg had reported earlier on Wharf's intention to exit its Singapore portfolio, valued at HK$7.7 billion (S$1.2 billion) as of the end of 2025.

In a separate deal announced in July, Scotts Square's sister mall, Wheelock Place, was sold to a fund backed by Hongkong Land Holdings for $1.1 billion. The latest transaction concludes a lengthy sales process for Scotts Square, initially priced at S$450 million in 2024.