White Sands retail mall sold for $467m

Offers approximately 150,352 square feet of net lettable area.

White Sands, a suburban retail mall in Pasir Ris, has been sold for $467m.

The transaction was brokered by Cushman & Wakefield on behalf of Frasers Centrepoint Trust.

The six-storey shopping mall offers approximately 150,352 square feet of net lettable area and is fully occupied by a diversified tenant mix. Key tenants include Pasir Ris Public Library, FairPrice, and Koufu, making it a well-established retail destination in the eastern part of Singapore.

The property is directly connected to Pasir Ris MRT Station, which is expected to become an interchange station with the completion of the Cross Island Line (CRL) in 2030. The enhanced connectivity is anticipated to further strengthen the mall's long-term appeal.

According to Cushman & Wakefield, investor demand for quality retail assets in Singapore remains resilient, supported by the country's safe-haven status, strong retail market fundamentals, and a favourable interest rate environment.

Shaun Poh, Executive Director of Capital Markets at Cushman & Wakefield, said the sale reflects sustained interest in well-located, income-producing retail properties, adding that these market conditions are expected to continue supporting investment activity in the months ahead.

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