Private fund said to be buying 11 Mercatus retail assets for S$281 million

[SINGAPORE] Entities linked to Altallo Asset Management are understood to have inked deals to buy the portfolio of 11 retail assets that NTUC Enterprise unit Mercatus put on the market in the fourth quarter of last year.

The portfolio is being sold at a total price of S$281 million, which is 8.4 per cent lower than the S$307 million indicative price for the entire portfolio reported by The Business Times in November 2025.

The properties comprise private strata-titled retail space in Bukit Timah Plaza and the freehold Coronation Shopping Plaza, and nine Housing & Development Board (HDB) commercial shops. The 11 properties add up to about 172,000 square feet (sq ft) of space.