December 2025 top M&A deals in ASEAN markets

Singapore-based Lendlease Global Commercial REIT (LREIT) acquired a 70% stake in PLQ Mall at an agreed property value of SGD 885mn (USD 677.4mn) from the Abu Dhabi Investment Authority. The transaction will enhance LREIT’s Singapore portfolio by adding a prime suburban retail asset, strengthening income stability, and diversifying tenant exposure. PLQ Mall, located within the Paya Lebar Quarter and opened in 2019, features over 200 outlets and benefits from high footfall at the Paya Lebar MRT interchange.

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