SINGAPORE: Serangoon Plaza, which was built in the 1960s, will soon be torn down to make way for a new commercial development, said property group Tong Eng on Tuesday (Jan 10).
Responding to queries from Channel NewsAsia, director at Tong Eng Brothers Teo Kar Tin said demolition and construction works are expected to start next month and will be completed in the third quarter of 2019.
Mustafa, Singapore’s biggest 24-hour mall, has a branch at Serangoon Plaza and is the largest tenant there. All tenants have been told to move out by the end of this month, Tong Eng said, adding that the tenants will be able to meet the deadline.
Formerly known as President Shopping Centre, the five-storey Serangoon Plaza was bought by Feature Development, an associate firm of Tong Eng, in 1984, which then sold 10 per cent of the units. In 2013, Feature Development bought back the units it had sold for about S$40 million so that it would have the option of redeveloping the site.
The land will now be redeveloped into a 19-storey commercial development called Centrium Square, Tong Eng said. The new development will have a five-storey podium with retail space on the first and second storeys and a 14-storey tower with medical suites and offices. The retail space has been fully sold to shipping company Canali Logistics, it added.
Artist’s impression of the new Centrium square development. (Image: Centrium Square website)
