The Business Times
business-time-50

DFI sells Jelita Shopping Centre for S$91.68 million to former precision engineering entrepreneur

Deal entails long leaseback of ground level to ensure DFI’s continued supermarket operations

google-preferred-sourceAdd BT as a preferred source
Kalpana Rashiwala

Kalpana Rashiwala

Published Mon, Nov 20, 2023 · 05:00 AM
    • The transacted price for the two-storey Jelita Shopping Centre is higher than the S$85 million guide price stated when an expression of interest exercise for the property was launched in June.
    • The transacted price for the two-storey Jelita Shopping Centre is higher than the S$85 million guide price stated when an expression of interest exercise for the property was launched in June. PHOTO: JLL

    DFI RETAIL Group (DFI) has sold Jelita Shopping Centre for S$91.68 million to a low-profile property investor, Peter Koh Pang An, and his wife. The couple are Singapore citizens.

    A rags-to-riches entrepreneur who used to be active in the Singapore precision engineering scene, Koh owns Platinum 28, a freehold industrial building at 28 Genting Lane, which he acquired from Ho Bee in 2011. He also owns suburban malls in Australia and New Zealand.

    The transacted price for the 999-year leasehold Jelita Shopping Centre, at the corner of Holland Road and Jalan Jelita, is higher than the S$85 million guide price JLL went to the market with in June.

    Singapore propertyDFI Retail Group

    TRENDING NOW

    Altitude Xperience argued that the rooftop space in contention was not considered an unused space.

    Simba ordered to pay S$700,000 in damages to indoor skydiving operator Altitude Xperience for trespass

    The former employees were sued by Envy’s liquidators to claw back payments including commissions, profit-sharing bonuses and referral fees made to them.

    Apex court dismisses almost all of the appeals by Envy’s ex-employees over S$38 million of clawbacks

    Some industry watchers wonder if Orchard Road can hold its own next to competing retail destinations, both global and local.

    What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future

    The airline said it tapped Bank of China, DBS, HSBC and Standard Chartered for the potential bond sale.

    Singapore Airlines plans debut 5-year dim sum bond

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More