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
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.
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