Portfolio of Commercial Assets in Australia

In November 2019, Metro expanded its regional footprint by investing 20% in a joint venture with Sim Lian that owns a portfolio of 14 quality freehold properties comprising 4 office buildings and 10 retail centres that span across 4 key states in Australia, namely New South Wales, Victoria, Queensland and Western Australia. The four office buildings are strategically located in the core CBD of Sydney and Brisbane, and the fringe CBD of Melbourne and Perth. The other 10 retail centres are located regionally with over 90% of the retail space being anchored by defensive non-discretionary retailers such as supermarkets that cater to day-to-day necessities of the community within the primary residential catchment area.

To align the interest with its strategic partner Sim Lian and to grow its asset management arm, the Group invested a 20% equity stake in a newly incorporated asset and investment management company, namely Sim Lian – Metro Capital Pte. Ltd., in November 2019 to manage the portfolio in Australia. For more information on Sim Lian – Metro Capital Pte. Ltd., please refer to www.simlian-metro.com.