M&G Real Estate becomes sole owner of Compass Point mall

It will reopen in 2016.

M&G Real Estate, the real estate fund management arm of M&G Investments, will become the sole owner of Compass Point Shopping Centre in Sengkang after its move to acquire the remaining 18.99% of shares it does not already own.

The shares will be bought from FCL Centrepoint Pte. Ltd., a wholly-owned subsidiary of Frasers Centrepoint Limited. FCL will cease to manage the property once the transaction is completed, which is expected to be in February next year.

The Sengkang mall is currently closed for a major refurbishment and is expected to re-open in 2016 under a new name and new management.

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