Knight Frank Singapore and CBRE have announced the sale of a unique portfolio of four large-format Housing & Development Board (HDB) retail units through an Expression of Interest (EOI) exercise. Located in the bustling town centres of Ang Mo Kio, Bukit Merah, Clementi, and Toa Payoh, these fully-tenanted units present a rare investment opportunity in Singapore’s competitive retail market.
The portfolio, with a combined strata area of approximately 104,808 sq ft, includes properties with prominent street frontages and high footfall. Each unit spans two levels within standalone HDB commercial blocks, offering substantial income-generating potential. The properties are anchored by established tenants such as NTUC FairPrice and COURTS, ensuring a stable rental income.
Galven Tan, CEO of Knight Frank Singapore, highlighted the scarcity of such assets, stating, “With only approximately 8,500 HDB commercial units available for private ownership, this portfolio represents a truly scarce and highly sought-after investment opportunity.” Michael Tay, Executive Director of Capital Markets at CBRE Singapore, added that HDB town centres are vital for daily life in Singapore, serving as key destinations for dining, shopping, and leisure.
The properties are not subject to Additional Buyer’s Stamp Duty and Seller Stamp Duty, making them eligible for foreign purchase. The EOI exercise will close on 23 July 2025 at 3pm. This sale offers investors a chance to acquire prime retail assets in mature residential hubs, with potential for future repositioning and rent reversions.
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