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SINGAPORE PROPERTY

Sceneca Square sells for S$64 million; money launderer’s Beach Road retail unit fetches S$8.7 million

The single-storey mall in the east is being bought by 8M Real Estate, a Singapore property investment group

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Kalpana Rashiwala

Kalpana Rashiwala

Published Fri, Sep 6, 2024 · 10:07 PM
    • Sceneca Square will be a single-storey mall in a mixed-use project that also includes the Sceneca Residence.
    • At the corner of Beach Road and Liang Seah Street, the first-storey retail unit leased to Chef China has fetched S$5,657 psf on strata area of 1,539 sq ft.
    • Sceneca Square will be a single-storey mall in a mixed-use project that also includes the Sceneca Residence. PHOTO: MCC SINGAPORE
    • At the corner of Beach Road and Liang Seah Street, the first-storey retail unit leased to Chef China has fetched S$5,657 psf on strata area of 1,539 sq ft. PHOTO: GOOGLE MAPS

    THE Singapore retail strata market seems to be buzzing more. Recent deals include the S$64 million sale of Sceneca Square mall being built next to Tanah Merah MRT station, and the S$8.7 million sale of a retail unit at The 101 in Beach Road owned by convicted money launderer Su Haijin.

    The single-storey Sceneca Square is being bought by 8M Real Estate, a Singapore property investment group owned by Hong Kong-based Crane Capital, a unit of US pension fund Washington State Investment Board.

    Set up in 2014, 8M Real Estate is a major owner of conservation shophouses in Singapore.

    Singapore propertyCommercial & IndustrialSingapore retail

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