A Singaporean real-estate billionaire is suing Brookfield Asset Management over alleged breaches of contract and confidentiality related to a proposed joint venture to buy industrial properties in the city-state. Lim Chap Huat, executive chairman of Soilbuild Group Holdings, alleges that Brookfield usurped a property deal that the New York-based asset manager had originally pitched as a collaboration with Soilbuild, according to documents filed Monday to Singapore’s High Court. The lawsuit hasn’t been reported previously.

The dispute centers on a 2025 transaction in which Brookfield bought three properties in Singapore from Mapletree Industrial Trust for more than $400 million. The lawsuit names Lim, Soilbuild and a Soilbuild subsidiary as claimants, alleging that Brookfield had agreed with Soilbuild to pursue the acquisition through a joint venture and worked with Soilbuild over several months to put a deal together.

Soilbuild claims that Brookfield reneged, alleging that the asset manager called off the proposed joint venture two days before Mapletree announced it was selling the properties to Brookfield.