Located along Sembawang Road, Sembawang Shopping Centre reopened to shoppers in 2008 following CMT’s acquisition in 2005. It comprises four levels of retail space – three levels above ground and one basement level – with a net lettable area of 143,631 square feet. The mall registered a committed occupancy of 99.4% as at 31 December 2017. Its major tenants include Giant, Yamaha Music School, Food Junction and Daiso Japan.
SINGAPORE (Apr 19): CapitaLand Mall Trust (CMT) has agreed to sell Sembawang Shopping Centre to a joint venture between Lian Beng Group and Apricot Capital for $248 million.
Sembawang Shopping Centre was valued at $126.0 million as at Dec 31 2017. The divestment is expected to generate net proceeds of about $245.6 million and a net gain of about $119.6 million when the transaction is completed by June 2018.
