NTUC co-op tipped as front runner for Jurong Point

Singapore

A NEW party has emerged in the race for Jurong Point mall.

The Business Times has learnt that Mercatus Co-operative - an NTUC social enterprise that owns and manages suburban malls - is now the front runner for Jurong Point.

Its bid is understood to be about S$2.2 billion, which would translate to S$3,343 per square foot based on the 658,000 square feet of commercial net lettable area owned by an equal joint venture between Lee Kim Tah Holdings and Guthrie GTS in Jurong Point.

When contacted, Mercatus declined…