The reported bid translates to record price of $3,343 psf and a net yield of close to 4.2%.
SINGAPORE (April 4): The potential $2.2 billion acquisition of Jurong Point mall is a sign that the market is receptive to paying a premium for assets with good quality and scalability, according to DBS Group Research.
According to reports, NTUC social enterprise Mercatus Co-operative, which currently owns AMK Hub, One Marina Boulevard, and 50% of Nex mall, is “close to sealing a deal” to buy Jurong Point – the largest suburban retail mall in Singapore.
