9 Penang Road (formally known as Park Mall)
Successfully marking our maiden foray into commercial property redevelopment, SingHaiyi, together with our joint venture partners, completed the acquisition of 9 Penang Road in December 2015 with the intention of redeveloping 9 Penang Road into two office blocks with a retail component. 9 Penang Road is a commercial and retail development comprising a 10-storey office cum retail space that is located in close proximity to the Orchard Road commercial and shopping belt and is also easily accessible from the nearby Dhoby Ghaut MRT station.
Our wholly-owned subsidiary, SingHaiyi Development Pte. Ltd., has been appointed to lead the redevelopment of 9 Penang Road and will provide professional project and development management services.
|Type||Mixed commercial/retail use|
|Location||9 Penang Road, Singapore|
|Committed Equity Participation||S$134.4 million|
|Total Development Cost||S$800.0 million|
|Tenure||Leasehold – extended for 99 years, expiring 7 December 2115|
|Net Lettable Area (Approximate)||Office: 352,000 sq ft/ Retail: 15,000 sq ft|
|Number of Floors||Office: 8 Levels (3rd to 10th floor)
Retail: 1 Level (1st floor)
Carpark: 2 Levels (Basement & 2nd floor)
|Expected Completion of Redevelopment||2H 2019|