Sheng Siong primed for growth as flats in new estates drive demand for supermarkets

WHEN residents first started moving into their built-to-order (BTO) flats in Tengah, a new town in Singapore’s west, they were surprised by the lack of key amenities such as supermarkets.

The way analysts see it, the increasing supply of BTO flats could be a catalyst for supermarket operators such as Sheng Siong Group .

Analysts said that new spaces put up for tender by the Housing and Development Board (HDB) will enable the supermarket chain to expand its network of stores across the island. A recent UOB Kay Hian report noted that the statutory board has put out 23,000 BTO flats this year, up 34.5 per cent from 17,100 in 2021.