Wharf REIC (HKG:1997), controlled by Hong Kong billionaire Peter Woo, is reportedly reviewing the sale of its entire Singapore commercial portfolio which is currently valued around HK$7.7 billion (around S$1.3 billion / US$985 billion). The portfolio comprises Wheelock Place and Scotts Square and Wharf is seeking to sell them at a higher price. Market watchers say that Wharf plans to divest Scotts Square before Wheelock Place, the latter for which it will want more than S$1.1 billion, according to the people. That’s in part because Scotts Square which is approximately 131k sqft of retail space has faced challenges despite its prime location, including a higher tenant turnover and weaker footfall relative to other malls in the retail strip. Scotts Square, a freehold asset, was marketed at a guide price of S$450 million in early 2024. However, no sale ensued and the property is now being marketed at around S$400 million....