Empty new mall in Changi now on sale for RM117m

SINGAPORE (April 9): A long vacant three-storey mall in Changi is now seeking a new owner with a guide price of S$38 million (RM117 million) or S$2,000 psf, reported Channel News Asia (CNA).

Located on a site measuring about 13,561 sq ft, [email protected] mall along Upper Changi Road North obtained a Temporary Occupation Permit in Dec 2019, but the mall has been left empty until now.

According to CNA’s earlier report, the developer, Fortune Assets Changi, said it struggled to find tenants for the mall due to the “circuit breaker” measures in April last year which restricted the leasing of retail spaces to bring in “desired trades” like cafes and restaurants.

The developer had applied to the Urban Redevelopment Authority (URA) to turn the six shop units on the first and second floors into restaurants. However, the application was rejected by URA as the authority had received public feedback on traffic and parking problems in that area.

CBRE Singapore, which is the appointed agent for the sale, declined to comment on the reason for the sale but noted that interested parties are welcome to express their interest by April 28.

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