# Pasir Ris mall White Sands changing hands for $467 mil

- **Source:** EdgeProp Singapore
- **Published:** 2026-07-01T00:11:16.000Z
- **Author:** Edgeprop Singapore
- **Original:** https://www.edgeprop.sg/property-news/pasir-ris-mall-white-sands-changing-hands-467-mil
- **Topics:** Commercial & Industrial, Transactions & Deals, Investment & Capital Markets

## Featured rationale

The transaction signals continued investor appetite for well-connected suburban malls and allows FCT to strengthen portfolio resilience and its balance sheet by recycling capital.

## AI summary

Frasers Centrepoint Trust agreed to sell White Sands mall to Growth Capital for $467 million, generating approximately $454.1 million in net proceeds for debt repayment.

## Original article

Frasers Centrepoint Trust (FCT) is selling White Sands mall in Pasir Ris for $467 million to Growth Capital, an unrelated third-party purchaser.

FCT’s trustee has entered into a put and call option agreement with the buyer, and the deal is expected to complete around Sept 30, said FCT’s manager in a June 30 bourse filing.

The mall has a leasehold tenure of 99 years starting from May 1993. Comprising five storeys and three basement levels, its gross floor area totals 240,371 sq ft with a net lettable area of 130,352 sq ft as at Sept 30, 2025.

Read also: Pasir Ris Town Square community hub opens, with more changes in store by 2030

It had a total of 132 tenants with key ones including FairPrice, Cookhouse by Koufu, McDonald’s, and Popular Bookstore, as at end-September last year.

White Sands is directly connected to and sits next to Pasir Ris MRT Station, which will become an interchange station when the upcoming Cross Island Line is completed in 2030.

FCT had acquired White Sands in 2020. It is the smallest mall in the Reit’s portfolio and has “performed well” since acquisition, said Richard Ng, CEO of the manager.

Cushman & Wakefield (C&W), which brokered the sale of the suburban retail property, said the transaction follows an offer sourced by its capital markets team.

“Investor interest in quality retail assets remains strong, supported by Singapore’s safe-haven status, robust retail operating fundamentals, and favourable interest rate environment,” said Shaun Poh, executive director of capital markets at C&W.

Poh added that these factors will likely continue to support transaction activity and drive further investment opportunities in the months ahead.

Read also: Loyang Valley sold en bloc to SingHaiyi-led consortium for $880 mil

The proposed divestment is part of FCT’s proactive portfolio management strategy to strengthen its portfolio resilience and unlock value for unitholders, Ng noted.

Net proceeds from the sale will be around $454.1 million, and the Reit manager plans to use these to repay debt.

Upon completion of the sale, FCT’s retail portfolio will comprise eight retail properties in the suburban regions of Singapore: Causeway Point, Century Square, Hougang Mall, Nex (effective 50% interest), Northpoint City, Tampines 1, Tiong Bahru Plaza, and Waterway Point (effective 50% interest).

"Well-connected malls with established trade areas continue to attract significant investor interest. Investors are drawn to the attractive net yields, strong fundamentals and value-add angles,” says Jeremy Lake, managing director, investment sales & capital markets at Savills Singapore, joint marketing agent for White Sands.

Check out the latest listings for Pasir Ris properties

## Chinese translation

> Translation model: grok

### 白沙购物中心（White Sands）以4.67亿新元易手

该商场目前是星狮地产商业信托（Frasers Centrepoint Trust）零售组合中规模最小的物业。买家为Growth Capital。

星狮地产商业信托（Frasers Centrepoint Trust，FCT）正以4.67亿新元向无关第三方买家Growth Capital出售白沙（Pasir Ris）的White Sands商场。

FCT管理人于6月30日提交的交易所文件称，FCT受托人已与买家订立认沽及认购期权协议，交易预计于9月30日前后完成。

该商场自1993年5月起为99年地契。建筑共五层及三层地库，截至2025年9月30日，总楼面面积为240,371平方英尺，净可出租面积为130,352平方英尺。

延伸阅读：白沙市镇广场社区中心开幕，2030年前仍有更多变化

截至去年9月底，商场共有132名租户，主要租户包括FairPrice、Cookhouse by Koufu、麦当劳及Popular Bookstore。

White Sands紧邻并直接连通白沙地铁站（Pasir Ris MRT）；待即将开通的跨岛线（Cross Island Line）于2030年完工后，该站将成为换乘站。

FCT于2020年收购White Sands。管理人首席执行官黄瑞强（Richard Ng）表示，它是该房地产投资信托组合中规模最小的商场，收购后“表现良好”。

促成这笔郊区零售物业交易的戴德梁行（Cushman & Wakefield，C&W）表示，交易源自其资本市场团队寻获的报价。

戴德梁行资本市场执行董事Shaun Poh表示：“投资者对优质零售资产的兴趣依然强劲，受惠于新加坡避险地位、稳健的零售运营基本面，以及有利的利率环境。”

Poh补充说，这些因素很可能在未来数月继续支撑交易活动并推动更多投资机会。

延伸阅读：Loyang Valley整栋出售予新海逸牵头财团，成交价8.80亿新元

黄瑞强指出，拟议出售是FCT主动组合管理策略的一部分，旨在增强组合韧性并为单位持有人释放价值。

出售所得净额约4.541亿新元，信托管理人计划用于偿还债务。

交易完成后，FCT零售组合将包括新加坡郊区八项零售物业：Causeway Point、Century Square、Hougang Mall、Nex（实际持股50%）、Northpoint City、Tampines 1、Tiong Bahru Plaza及Waterway Point（实际持股50%）。

White Sands联合营销代理第一太平戴维斯新加坡投资销售与资本市场董事总经理Jeremy Lake表示：“交通便利、商圈成熟的商场持续吸引显著投资者兴趣。投资者看重有吸引力的净收益率、强劲基本面及增值空间。”

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