Holland Piazza in Singapore’s Holland Village (Image: Colliers)
A freehold neighbourhood mall in Singapore’s upscale Holland Village has changed hands for S$100 million ($78 million), the latest in a wave of retail acquisitions which helped make 2025 Singapore’s strongest year for real estate investment since 2017.
Holland Piazza, a two-storey, 21,806 square foot (2,026 square metre) shopping centre in District 10’s Tanglin-Bukit Timah corridor, was acquired by Cheong Sim Lam, a scion of the family behind Hong Kong-listed Hong Fok Corp, from family-controlled Eng Tiong Realty, which had held the property for more than 50 years.
The deal reflects strong private capital appetite for well-located freehold retail, where suburban prime rents grew 0.9 percent year-on-year in 2025 and are forecast to rise a further 1.5 to 2.5 percent in 2026, according to Cushman & Wakefield. New retail supply is running at just 300,000 square feet annually through 2029 — well below the historical average of 800,000 square feet.
Terry Wong, head of capital markets and investment services at Colliers Singapore, whose team advised on the sale, said Holland Piazza exemplifies what private capital is seeking. “Freehold tenure, neighbourhood convenience with lifestyle upside, and value-creation pathways,” Wong said. “With the ongoing uplift of Holland Village and the addition of new residential supply, we expect occupier demand and higher footfall, supporting both rental resilience and future repositioning strategies for the next owner.”
