Yesterday I wrote an article revisiting SPH as an income stock (You can
read it here).
The article highlights that one of SPH’s strategy is to become a quasi-REIT to diversify its business risk from a press business whose moat is getting more narrow.
One of its recent purchase have been Clementi Mall.
The purchase of Clementi Mall
The purchase of Clementi Mall was through a consortium CM Domain Pte Ltd, which is under SG Domain Pte Ltd which is then owned by Times Properties Private Limited which is wholly owned by SPH as well as NTUC FairPrice and NTUC Income.
The breakdown of ownership is
- Times Properties (60%)
- NTUC FairPrice (20%)
- NTUC Income (20%)
Clementi Mall
- NLA of 194,000 sf or 18,000 sq metres of retail space
- Retail/Commercial GFA of 269,100 psf
- Estimated fitted out cost of SGD 50 mil
- Anchor shopping mall in the west. It should ...
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