Perennial Real Estate Holdings and Singapore Press Holdings (SPH), through subsidiaries, have bought an extra 60 per cent of Chinatown Point Mall for S$92.6 million (US$64.9 million) from two funds.

Perennial’s effective stake rose from 5.15 to 45.15 per cent, while SPH’s stake rose from 7.35 to 27.35 per cent.
Other investors include NTUC FairPrice Co-Operative as well as some privateers.

Perennial Chinatown Point owns Chinatown Point, which comprises a mall and four strata office units in an integrated development.

Average shopper traffic at the mall has grown steadily in the past few years, now at about 2.4 million on a monthly basis, 78,900 on a weekday, and 76,400 on a weekend. The mall had a committed occupancy of 97 per cent as at October 31, and 100 per cent for the offices.