Successfully marking our maiden foray into commercial property redevelopment, SingHaiyi, together with our joint venture partners, completed the acquisition of Park Mall in December 2015 with the intention of redeveloping Park Mall into two office blocks with a retail component. Park Mall is a commercial and retail development comprising a 15-storey office cum retail space that is located in close proximity to the Orchard Road commercial and shopping belt and is also easily accessible from the nearby Dhoby Ghaut MRT station.
Our wholly-owned subsidiary, SingHaiyi Development Pte. Ltd., has been appointed to lead the redevelopment of Park Mall and will provide professional project and development management services.
|Location||Penang Road, Singapore|
|Committed Equity Participation||S$134.4 million|
|Tenure||Leasehold - 99 years from 1969|
|Expected Commencement of Redevelopment||2016|
|Expected Completion of Redevelopment||2H2019|