Cushman & Wakefield has successfully brokered the sale of White Sands, a prominent suburban retail mall in Pasir Ris, for S$467m. The transaction, facilitated by the firm’s Capital Markets team, highlights the continued investor interest in Singapore’s retail sector. White Sands, spanning six retail floors and a net lettable area of approximately 150,352 sq ft, is fully occupied and features a diverse tenant mix, including Pasir Ris Public Library, FairPrice, and Koufu.
The mall’s strategic location, directly connected to Pasir Ris MRT Station, is set to become even more advantageous with the completion of the Cross Island Line in 2030. Shaun Poh, Executive Director of Capital Markets at Cushman & Wakefield, expressed pride in brokering the transaction on behalf of Frasers Centrepoint Trust. He noted, “Investor interest in quality retail assets remains strong, supported by Singapore’s safe-haven status, robust retail operating fundamentals, and favourable interest rate environment.”
This sale is part of a series of significant retail mall transactions managed by Cushman & Wakefield, following deals involving i12 Katong, Swing By @ Thomson Plaza, The Clementi Mall, The Seletar Mall, and Changi City Point. The firm’s continued success in these transactions underscores the strength of Singapore’s retail market and the potential for further investment opportunities in the near future.
