8M Real Estate makes first move into suburban projects

Sceneca Square near Tanah Merah MRT will open in 2026

8M Real Estate Pte. Ltd. will push into suburban mixed-use developments for the first time as the heritage-focused landlord broadens its portfolio beyond conserved shophouses in Singapore’s central business district (CBD).

The move signals a strategic pivot under CEO Jocelyn Hao, who took the helm in October. The firm plans to roll out two suburban projects in 2026, including Sceneca Square near Tanah Merah MRT station.

“This is our first venture into the suburban area, and it fits our mandate of bringing what makes Singapore best in terms of customer and retail experience,” she told Singapore Business Review.

The development will feature FairPrice Finest, managed by NTUC FairPrice Co-operative Ltd —the biggest supermarket chain in Singapore—as its anchor tenant, giving nearby residents expanded grocery options. The expansion comes as 8M continues to lean on its core portfolio of conserved shophouses—a limited stock of about 6,500 across the island.

“We own the biggest portfolio of heritage shophouses, primarily in the CBD,” Hao said via Zoom. “Our mandate also includes protecting these heritage shop houses for Singapore and for the community we serve.”

She said the challenge is balancing preservation with ensuring the buildings adapt to market demand.

8M has been accelerating its use of technology to update its portfolio. Smart building management systems now track utilities, optimise energy use and let tenants lodge maintenance requests digitally.

“Tenants can reach out or use the technology to inquire for support or seek maintenance needs,” she pointed out.

The firm is testing more automation in its upcoming Tanah Merah MRT Station project, including Internet of Things-enabled toilets and autonomous cleaning robots. Internally, 8M has deployed an artificial intelligence (AI) chatbot — Ask Grace — to help employees retrieve human resource information quickly.

Hao expects meaningful shifts across Singapore’s property sector in the next three to five years, with pockets of opportunity emerging in residential, retail and office markets.

In housing, co-living supply is set to expand, buoyed by investor interest following Coliwoo Holdings Ltd.’s initial public offering and plans to add 1,000 units by 2026. Other players, including Cove Living Pte. Ltd., are pushing deeper into niche products.

8M aims to differentiate itself by offering bigger units suited for stays of three to six months, letting residents cook and manage daily routines more comfortably. A co-living asset in Jalan Besar—a partnership with Cove—will further extend this strategy.

Consumer behaviour in retail and food and beverage is shifting toward value-driven concepts, Hao said, though interest from luxury brands in heritage spaces remains strong.

She cited earlier collaborations such as Louis Vuitton X Murakami and Chanel Ltd.’s cruise presentation at Raffles Hotel as examples of how global brands use shophouses and conserved spaces to create distinctive experiences.

The office segment remains steady for 8M, supported by demand from small businesses and tenants seeking spaces of up to 10,000 square feet.

Hao said she wants to position 8M to give back to Singapore’s retail and commercial industry. Community partnerships will remain central to its expansion.

“We have always been deeply rooted in the community,” she said. “Our CSR (corporate social responsibility) program works closely with key partners, and that will continue as we grow.”