Note that at the end of 2017, Sembawang Shopping Centre was estimated to be valued at around $126 million. However, the Apricot-Lian Beng joint venture had to part with a cool $248 million. This resulted in a net gain of almost $122 million. This is indeed the highest amount of money that has been used to acquire a private shopping mall in Singapore.
Sembawang Shopping Centre Located at Sembawang
The completion of this massive transaction indicates that CapitaLand Mall Trust has around 15 properties in its portfolio including JCube, Bugis Junction, and Plaza Singapura. Currently, this shopping mall is being managed by Knight-frank Property Asset Mngt Pte Ltd. Overall, this development is expected to grow massively in the next coming years. Well, this is because the business outlook is rapidly gaining momentum.
Sembawang Shopping Centre Largest Shopping Centre in Sembawang
Note that Sembawang Shopping Centre is not only the largest commercial development in Sembawang. Sun Plaza is another mixed development which is found along Sembawang Drive. The commercial and residential development sits between the bus interchange and the MRT Station in Sembawang.
Due to low patronage, Sun Plaza was closed in 2009. However, it was refurbished in 2014. Some of the notable changes include the installation of unique alfresco dining spots, outdoor escalators, in addition to changing the interior layout and the exterior façade.
It was reopened in 2015 and it currently hosts more than 100 specialty stores. This mixed development now contains more beverage and food premises. Besides that, there are multiple educational centers, a public library among others.