Ming Arcade enbloc by Royal Group of Companies for $172m

 

For $172 million, the freehold commercial property Ming Arcade at 21 Cuscaden Road was sold after a public tender procedure that ended on December 15. The transaction has set a new price benchmark of $3,125 psf per plot ratio (psf ppr), surpassing Shun Tak Holdings past record of $2,910 psf ppr for Park House at $375.5 million in 2018.

There were “several bids” for the Ming Arcade tender, according to Jeremy Lake, at Savills Singapore. Savills also facilitated the sale of Tanglin Shopping Centre in February 2022 for $868 million, or $2,769 per square foot per year. “The transacted price is 34% over the reserve price,” he says.

 Read More: Ming Arcade Up for Collective Sales by Public Tender  

Royal Group of Companies, a Singaporean family office established by real estate tycoon Asok Kumar Hiranandani, has purchased Ming Arcade. The forthcoming second Raffles Hotel on Sentosa will join the Sofitel Singapore Sentosa Resort & Spa as assets owned by Royal Group.

The Royal Group has big plans for the land. “In 1980s, Ming Arcade has a vibrant lifestyle hub and we are keen to rejuvenate this development and restore the grandeur it deserves,” say Asok Kumar Hiranandani and Bobby Hiranandani, chairman and co-chairman of Royal Group of Companies.

 

 

Former Ming Arcade Location

 

Ming Arcade is a commercial property that is freehold, and it can be found in District 10 at 21, Cuscaden Road, 249720. Numerous amenities located close to Ming Arcade. Ming Arcade is placed in close proximity to a number of restaurants that are housed in neighboring structures, such as the Food Court in Orchard Tower and McDonald’s Forum in the Shopping Mall.

Cold Storage and Market Place Supermarkets may be reached on foot from the Ming Arcade within a decent amount of time. It is also near to other shopping centers such as Forum The Shopping Mall, Delfi Orchard, Hilton Shopping Gallery, Tanglin Shopping Centre, and Wheelock Place, where one can find a variety of facilities including groceries and retail shopping, as well as banks and other establishments. Orchard Road, Tanglin Road, and Cuscaden Road are the three roads that provide entrance to Ming Arcade.

 

Potential of the Site

Ming Arcade is a business building of seven stories, three basement floors, and 88 individual strata flats. It has an existing gross floor size of 55,046 square feet and is situated on a freehold 12,132 square foot site that is designated for commercial use (giving it a plot ratio of 4.54). It may limit the building’s height to as little as ground level or as much as twenty stories.

In this vibrant locale, you’ll discover a plethora of upscale accommodations and luxurious residential options. The upcoming Artyzen Hotel promises to offer a unique blend of artistry and hospitality, setting a new standard for luxury in the area. The Edition Hotel, renowned for its contemporary design and impeccable service, provides another enticing choice for discerning travelers. Boulevard 88, a prestigious residential and commercial development, boasts an exclusive lifestyle in the heart of the city. For those seeking the pinnacle of luxury, the Four Seasons Hotel, Four Seasons Park, and St. Regis Hotel & Residences stand as iconic symbols of opulence, each offering a distinct and indulgent experience that complements the area’s thriving cosmopolitan ambiance.

 

Former Ming Arcade Registration of Interest

---

** Do fill up the form below to register for preview and we will update and also email you the brochure once its available.

Name: *

Email: *

Phone: *

Unit Type:

Remarks:

I acknowledge and consent to be called and/or sent text /messages and email via the above mediums regarding Singapore New Launches in general (e.g. promotional offers, invitations to launches) at my telephone number(s) above