Singapore Shopping Centre Back on the Market at S$200 Million
Singapore Shopping Centre is back on the collective sale market with a new asking price of S$200 million, which is 21.6% lower than the previous reserve price of S$255 million in 2020.
Key Details
- 99-year leasehold development
- Located opposite Dhoby Ghaut MRT station at 190 Clemenceau Avenue
- Triple road frontage: Clemenceau Avenue, Penang Road, and Penang Lane
- Existing gross floor area (GFA): approx. 12,566.5 sq m
- Site area: 2,449.8 sq m
- Zoned for commercial use with a 4.2 plot ratio under URA Master Plan 2019
Land Rate & Redevelopment Potential
The revised asking price translates to a land rate of between S$2,800 to S$3,500 psf ppr, depending on use and intensity. The site can be:
- Redeveloped for hotel use (same 4.2 plot ratio)
- Adaptively repurposed for hotel use at an effective plot ratio of 5.1296
Being located just outside the URA-designated zone for Orchard Road means the developer may be allowed to strata-subdivide the space, which is generally not permitted along Orchard.
Lease Renewal
Marketing agent ETC has submitted an enquiry to renew the lease to a fresh 99-year term. They noted the site’s strong potential amid ongoing transformations in the precinct, such as:
- Dhoby Ghaut Green and other new public spaces
- New developments in the Orchard-Dhoby Ghaut area
- Proximity to UBS at 9 Penang Road, Plaza Singapura, and Singapore Management University
Developer’s Comments
Swee Shou Fern, Head of Investment Advisory at ETC, commented:
“With the precinct undergoing a wave of transformation, we see strong potential for this site to become a new anchor for this end of Orchard Road. Combined with the flexibility for redevelopment or adaptive reuse, this property offers developers limitless potential.”
Past Attempts & Timeline
- First launched for collective sale in July 2019 at S$255 million
- Relaunched in early 2020 at the same price — no successful bid
- Current tender closes on Oct 28, 2025
Nearby Developments
The Singapore Shopping Centre is close to:
- Plaza Singapura
- 9 Penang Road (UBS headquarters)
- MacDonald House (to be occupied by Vanta private club)
- Singapore Management University (SMU)
