All the retail unit of Centrium Square has been purchase by Canali Logistics, which is a incorporated Vehicle of Mohammed Saiful Alam, who also owns Bangladeshi conglomerate S Alam Group. Bangladeshi Group handle various businesses such as cement, steel, consumer products, power, transportation, shipping, property and also trading businesses.
Mr Saiful Alam has also purchase Hotel Grand Chancellor at Belilios Road over at little india back in 2014 for $248 million, though the hotel has since been renamed to Grand Imperial Hotel.
Centrium Square is located at the current Serangoon Plaza over at little india. The purchase at $135m work out to be about $4,967psf for this freehold strata area at this high traffic region. There’s a total of 49 retail space at Centrium Square which the developer intent to sell to one party rather than slice to multiple retail investors although they intent to retain it for long term investment.
Meanwhile, Tong Eng is also marketing another freehold commercial development Arc 380 at the former Lavender Food Court. This development consists of retail spaces and also offices on the upper floor units.