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KOH Brothers Group and Heeton Holdings unveiled Sun Plaza on Monday, a newly-improved suburban mall in Sembawang following a S$33 million asset enhancement drive.
Under a 50:50 joint venture between the two firms, the additions and alteration works on the six-storey mall added 5,772 square feet to existing lettable space, bringing total net lettable area to some 158,000 sq ft.
The asset enhancement exercise, which started in November 2013, was in line with the strategy to boost yields of investment properties through a retail and tenant mix revamp and optimisation of space utilisation, said Heeton Holdings chief executive and managing director Vince Toh.
The new mall is located next to Sembawang MRT and Sembawang Bus Interchange and has achieved near full occupancy with anchor tenants such as NTUC Fairprice, National Library Board and Kopitiam.