Sin Ming Centre Sold for $49 Million To Apex Asia Development
In a notable transaction that underscores the dynamism of Singapore’s real estate market, Sin Ming Centre has been sold to Apex Asia Development for an impressive sum of $49 million.
This significant deal, brokered by OrangeTee & Tie on April 3, marks the first successful sale of a mixed-use development in Singapore this year, highlighting the continued appeal of such properties in the city-state’s property landscape.
Located on Sin Ming Road within the bustling District 20, Sin Ming Centre is a distinctive four-storey mixed-use development that harmoniously blends commercial and residential spaces.
Comprising five commercial shops on the ground floor and 22 residential units above, this property occupies a 15,432 sq ft plot and boasts a gross floor area of 46,257 sq ft.
Completed in 1998, the building enjoys full occupancy across both its commercial shops and residential units, a testament to its prime location and the high demand for space within the area.
Sin Ming Centre’s allure is further enhanced by its proximity to a host of amenities and dining options along Upper Thomson Road, as well as the nearby Thomson Plaza shopping mall.
The development benefits from excellent transport connectivity, with two MRT stations – Upper Thomson on the Thomson-East Coast Line and Marymount on the Circle Line – located a short walk away.
Additionally, its accessibility is boosted by major thoroughfares including Upper Thomson Road, the Pan Island Expressway, and the Central Expressway, ensuring ease of travel for residents and visitors alike.
Apex Asia Development’s Vision for the Future
Under the leadership of Chairman Li Jun, who boasts a reputable track record with landmark projects like JadeScape, Apex Asia Development is poised to inject new life into Sin Ming Centre.
The developer plans to transform the site into a cutting-edge mixed-use development that will continue to offer commercial shops on the ground floor while refreshing the residential offerings above.
This redevelopment aligns with Apex Asia Development’s strategic growth plan and their commitment to redefining urban living through innovative projects.
The sale of Sin Ming Centre to Apex Asia Development not only represents a pivotal moment for the developer’s expansion in Singapore but also signals the enduring attractiveness of mixed-use developments in the city’s competitive property market.
As Apex Asia Development embarks on this redevelopment journey, the future of Sin Ming Centre looks bright, promising to deliver a refreshed urban living experience that will cater to the evolving needs and preferences of Singaporeans.
With this acquisition, Apex Asia Development reinforces its position as a significant player in Singapore’s real estate scene, ready to set new benchmarks in mixed-use development and urban living solutions.
