Hong Fok family scion Cheong Sim Lam buys retail property Holland Piazza for S$100 million
The buyer is likely to reposition the mall’s basement with wellness or entertainment operators to complement Holland Village’s family-friendly appeal
[SINGAPORE] Private investor Cheong Sim Lam, of the Cheong family who controls Hong Fok Corporation, has acquired Holland Piazza from Eng Tiong Realty for S$100 million.
The transaction price translates to S$4,586 per square foot (psf) based on a gross floor area of 21,806 square feet (sq ft).
The acquisition marks the first ownership change in over five decades for the freehold retail property. The Ng family behind Eng Tiong Realty has held the land on which Holland Piazza sits for decades.
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