All four malls are at least 99 percent occupied and yielded S$323.7 million in combined revenues last year, which was down by 4.5 percent from the S$339 million that the portfolio generated prior to the pandemic in 2019.
Dubbed as one of the largest sets of suburban shopping centres in Singapore, the biggest asset in Mercatus’ portfolio is
Jurong Point, a S$2 billion mall located in the western portion of the city-state which spans 720,000 square feet of net lettable area.
Next largest on the list by valuation is the
S$1.96-billion NEX mall in Serangoon district, where it maintains a 50 percent stake alongside partners PGIM Real Estate, Chinese sovereign wealth fund CIC and a subsidiary of US giant Prudential Financial.
Also in the portfolio is the 320,000 square feet big AMK Hub that connects directly to Ang Mo Kio MRT station and was valued at S$846 million as of last year, as well as the S$203 million Swing By @ Thomson Plaza shopping mall on Upper Thomson Road that spans 110,000 square feet in NLA.
Jurong Point and NEX are the giant mall, the other 2 have to sell as a package, if not nobody want
