Partnerships




Trans Corp (Since 2001)
Trans Corp is the Media, Lifestyle, Retail and Entertainment arm of CT Corp, a diversified holding company with businesses across a wide spectrum of industries. Trans Corp’s businesses include two free-to-air news and entertainment television broadcast, Pay TV Channel, News Portal, shopping malls and hotels, indoor themepark, franchisee for certain food and beverage, as well as international high-end fashion franchises. Trans Corp also owns majority ownership of Trans Retail Indonesia (formerly Carrefour Indonesia), together with GIC.

Metro first collaborated with Trans Corp in 2001 when it opened its third store in Bandung Supermal. By 2008, Trans Corp had acquired a 40% stake in Metro Indonesia, and in recognising the country’s growing demand for Metro stores, Trans Corp increased its shareholding to 50% in 2010.

Today, Metro Indonesia is one of the leading retailers in the country, housing a wide range of well-known international and local brands. Metro Indonesia currently has 10 stores spread across Jakarta, Bandung, Surabaya, Makassar and Solo.

In November 2017, Metro entered into further collaboration with PT. Trans Corpora for the development, marketing and sales of apartment units in Bekasi, Jakarta, Indonesia. In April 2018, Metro strengthened the partnership with PT. Trans Corpora with the development, marketing and sales of apartment and SoHo units in Bintaro, Jakarta, Indonesia.

In December 2019, Metro entered into a Deed of Sale and Purchase and sold its entire 50% equity stake in Metro Indonesia to Trans Corp. At the same time, Metro entered into a revised license agreement and granted to PT Metropolitan Retailmart permission to use its "Metro" trademarks in return for a fee payable to Metro.


InfraRed NF China Real Estate Fund (Since 2007)
Headquartered in London with offices in Hong Kong, Sydney, New York and Seoul, InfraRed Capital Partners (“InfraRed”) is a manager of specialist infrastructure and real estate funds.

Metro’s partnership with InfraRed NF China Real Estate Fund, L.P. (“the Fund”), a fund managed by InfraRed in joint venture with Hong Kong’s Vervain Group (which includes entities operating under the former name of “Nan Fung China”), started in 2007 with investments in EC Mall, No. 1 Financial Street and Metropolis Tower – in Beijing. In 2009, Metro entered into a joint venture with the Fund and Tesco plc in three Tesco Lifespace malls in Qinhuangdao, Fushun and Anshan. Another joint venture with the Fund and Tesco plc followed in February 2011 in three Tesco Lifespace malls in Fuzhou, Xiamen and Shenyang. Metro and the Fund have since divested their interest in all these developments.

In 2015, Metro invested in InfraRed NF China Real Estate Fund II (A), L.P. (“Fund II”). Fund II is the follow-on fund to the Fund. In 2016, Metro extended the Group’s partnership with Fund II through a co-investment in a real estate debt instrument.

In 2018 and 2019, Metro invested in InfraRed NF China Real Estate Fund III L.P. (“Fund III”) as well as co-invested with Fund III in real estate debt instruments.

Top Spring International Holdings Limited (Since 2011)
Top Spring International Holdings Limited (“Top Spring”) is a real estate property developer in the PRC specialising in the development and operation of urban mixed-use communities and the development and sale of residential properties in the Greater Bay Area, the Yangtze River Delta, the Central China, the Beijing-Tianjin and the Chengdu-Chongqing regions in the PRC. Metro acquired an initial stake of 5% in Top Spring when it was listed on the Main Board of The Stock Exchange of Hong Kong Limited in March 2011. Top Spring’s revenue stood at HK$0.7 billion for the year ended 31 December 2019.

In FY2013, Metro invested S$48 million for 30% equity in Nanchang Top Spring Real Estate Co., Ltd (“Nanchang Top Spring”), a partnership with Top Spring. Known as Nanchang Fashion Mark and located at Hong Gu Tan Central Business District in Nanchang, Jiangxi Province in the PRC, the mixed-use development initially had total leasable/saleable gross floor area (“GFA”) of approximately 780,000 square metres (“sqm”). Metro and Top Spring divested their interest in Nanchang Top Spring in 2017/2018.

In December 2013, Metro acquired a 30% stake in Shanghai Shama Century Park from Top Spring for RMB 524 million. The property operated as serviced apartments with a total of 284 residential units across a total GFA of approximately 49,357 sqm. All 284 residential units have been sold and handed over as at 31 March 2020.

On 1 July 2014, Top Spring became an associated company of the Metro Group when Metro’s nominated representative was appointed to the board of directors of Top Spring as non-executive director. As at 31 March 2020, Metro has an equity stake of approximately 16.2% voting rights and 14.9% ownership interest in Top Spring.

In September 2017, Metro, together with Top Spring, acquired three office buildings in Bay Valley in New Jiangwan City, Yangpu District, Shanghai, for RMB 2.5 billion. Metro’s stake is 30%.

Wing Tai Holdings Limited (Since 2012)
Wing Tai Holdings Limited is a public listed company in Singapore with a market cap of approximately S$1.6 billion and asset value exceeding S$4 billion as at 31 December 2019. Its principal activity is that of an investment holding company focused on key markets in the Asia Pacific, with core businesses in property investment and development, hospitality management and lifestyle retail. The Wing Tai Asia network of companies include Wing Tai Holdings Limited, Wing Tai Malaysia Sdn. Bhd., Wing Tai Properties Limited and their subsidiaries in Singapore, Australia and China, as well as in Malaysia and Hong Kong. In late 2012, Metro invested 40% in a joint venture with Wing Tai Holdings Limited to jointly develop The Crest at Prince Charles Crescent in Singapore.

Scarborough Group International (Since 2014)
Founded by Kevin McCabe in 1980, Scarborough Group International (“Scarborough”) has grown from a UK-based real estate developer and investor into a global organisation focusing predominantly on real estate with other past and present business interests in Europe, North America, Australia, Hong Kong, India, China and the United Kingdom.

Scarborough is now in its fourth decade of business, having developed into a global group with a diverse portfolio. It has a comprehensive investment portfolio which encompasses all aspects of real estate, interests in leisure as well as additional investments in a number of other sectors.

In July 2014, Metro entered into a joint venture with the Scarborough Group acquiring a 25% stake in two land plots for GBP5.7 million in Manchester, United Kingdom – Middlewood Locks (a predominantly residential mixed-use development) and Milliners Wharf The Hat Box (a 144-unit new build residential development). The collaboration was further strengthened in February 2016, when Metro participated in another joint venture with the Scarborough Group to develop two office buildings on a site in Sheffield, United Kingdom.

Lee Kim Tah Holdings Limited (Since 2017)
The Lee Kim Tah Group (“LKT Group”) built both its business and reputation upon sound foundations that date back to the 1920s. The LKT Group had its nascent beginnings when the late Mr Lee Kim Tah, who went on to become the founding Chairman of the LKT Group, took over the family business of supplying materials and labour to the British army, which was then stationed in Singapore. Steered by Mr Lee’s stalwart commitment to quality and innovation, the company grew to become a leader in the construction industry, as it introduced much needed modern construction technology to Singapore in the 1980s. The eventual listing in 1984 marked an important milestone for the local construction industry: the LKT Group was among the first few construction companies to be listed on the Singapore Exchange. The LKT Group was delisted from the Singapore Exchange in 2014.

Having firmly established itself in the construction sector, the LKT Group vigorously diversified into investment and property development. Its diversification saw the LKT Group successfully deliver a wide spectrum of developments, including luxury apartments, landed properties, shopping malls and hotels. The LKT Group’s footprint straddles across Australia, China, India, Indonesia and United Kingdom.

In November 2017, Metro, together with Trans Corp and the LKT Group, entered into a joint venture to develop, market and sell five 32-storey residential towers in Bekasi, Jakarta, Indonesia. In January 2018, Metro entered into a 50:50 joint venture with the LKT Group to jointly acquire a freehold office property in London, United Kingdom. Another joint venture with Trans Corp and the LKT Group followed in April 2018 to develop, market and sell two residential towers in Bintaro, Jakarta, Indonesia.

Evia Real Estate (Since 2019)
Founded in 2010, Evia Real Estate (“EVIA”) is an owner, developer, and fund manager of diversified real estate classes across residential, industrial and logistics, commercial and retail in Singapore and South Korea. Throughout various market conditions, EVIA has made its mark, solidifying itself as one of the most recognised providers of investment opportunities across all sectors of the real estate market. In April 2019, Metro entered into a 50% joint-venture with an affiliate of EVIA to jointly acquire 7 & 9 Tampines Grande, a premium Grade-A office property in Singapore.

Sim Lian Group of Companies (Since 2019)
Sim Lian is a group of companies with established businesses in property development, investment, construction, real estate professional services and asset management.

Sim Lian Holdings Pte Ltd is an investment holding and development company, invested in a wide range of assets types across various markets in Asia. The company also has asset management business with deep expertise and a strong track record in the key real estate markets in Asia, in particular Singapore and Australia.

Sim Lian Group Ltd is an established property development, construction, and investment company with a strong track record spanning more than 40 years. The Group was listed on the Mainboard of the Singapore Exchange for 16 years from 2000 to 2016, and has a broad portfolio of residential, commercial, industrial, retail and mixed-use developments, built on the core foundations of prime location, quality workmanship and efficient space planning.

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.

Sim Lian-Metro Capital (Since 2019)
To align the interest with Metro’s strategic partner, Sim Lian and to grow Metro’s asset management arm, Metro 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.