Lian Beng JV buys Sembawang Shopping Centre from CapitaLand Mall Trust

The price tag is S$248m, nearly twice the valuation for the property done about four months ago

The 999-year leasehold Sembawang Shopping Centre has four floors of retail units and three carpark levels with 165 parking spaces. It is now more than 99 per cent occupied.

PHOTO: CAPITALAND GROUP

LIAN Beng-Apricot Sembawang (LBAS) is buying Sembawang Shopping Centre from CapitaLand Mall Trust (CMT) for S$248 million, a price tag that is almost double the suburban mall's latest valuation.

LBAS is a 50-50 joint venture company of home-grown construction firm Lian Beng Group (Lian