M&G Real Estate signed a sale and purchase agreement to acquire Four Car Showrooms in Singapore from Jardine Cycle & Carriage Limited (SGX:C07) on October 23, 2022. The four properties include 201,057 SF JC&C's regional headquarters at 239/241 Alexandra Road in Bukit Merah, seven-storey facility at 301 Alexandra Road, a 356,803 square foot industrial complex near Jurong Lake District and a two-level Pandan Loop facility located within an industrial estate near Singapore's west coast. The four properties generated an annual income of SGD 25.9 million.