HONG KONG: When anti-government protesters rampaged through the Festival Walk in Kowloon on November 12, they smashed glass panels and some of the 200-odd stores in the sprawling mall. They also inadvertently dented one of Singapore’s biggest investments in the region.
Acquired by Temasek Holdings in 2011 for HK$18.8 billion, the retail and office property is now part of the assets in Mapletree North Asia Commercial Trust after a reorganisation in 2013. The real estate investment trust tumbled to a 10-month low in Singapore after the news.
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