Holland Piazza sold for $100m to investor Cheong Sim Lam

The two-storey mall hosts restaurants, retail, and experiential outlets.

Colliers’ Capital Markets & Investment Services team has advised on the $100m sale of Holland Piazza to private investor Cheong Sim Lam.

The acquisition works out to $4,586 per sq ft of gross floor area (GFA), according to a press release.

The two-storey standalone mall has a GFA of 21,806 sq ft and houses a mix of restaurants, experiential outlets, and retail operators.

The site has undergone multiple redevelopments, previously housing the Eng Wah open-air cinema and later Holland V Mall.

"With the ongoing uplift of Holland Village and the addition of new residential supply, we expect occupier demand and higher footfall, supporting both rental resilience and future repositioning strategies for the next owner," said Terry Wong, Head of Capital Markets and Investment Services, Colliers Singapore.

The surrounding area is seeing new residential developments, including Holland Vista and Skye at Holland, both expected to be completed in 2029.

Holland Plain has been designated as a future residential precinct, with a new government land sales site expected to yield approximately 280 homes, along with community spaces and park connectors linking to the Rail Corridor.

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