Potential buyer shortlisted amid strong interest for Cuscaden Peak’s The Clementi Mall
Entity linked to Zhao Zhichao of The Elegant Group said to be in exclusive due diligence at above the S$750 million guide price
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[SINGAPORE] An expression of interest exercise for the sale of The Clementi Mall is said to have garnered strong interest, with 12 offers received at the initial close of submissions on Oct 3.
Out of these, eight parties were shortlisted by the mall’s owner, Cuscaden Peak Investments, to sharpen their pencils and submit their highest offer at the second closing on Oct 17.
Following this, an entity linked to Zhao Zhichao, who is behind The Elegant Group, is understood to be in exclusive due diligence with a view to buying the five-storey mall next to Clementi MRT station.
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