Capitaland’s J’den Condo is expected to be completed by 2027 and will include commercial space connected to nearby MRT interchange and J’Den Condo amenities. Residential units are priced from S$2,000 to S$2,100 psf and launches in second half of 2023.

Amidst the current healthy transactions of commercial shophouses, Tan believes that more shophouses are going to enter the market in the coming months.Foreign investors, especially Chinese nationals, are ramping up their interest in Singapore’s shophouses, setting record prices in the process. Recently, a three-storey shophouse on Stanley Street changed hands for $29 million, the highest price achieved for a shophouse to date, while a two-storey intermediate conservation shophouse on Amoy Street fetched $21.8 million. According to CBRE, Union Property Holding, which is owned by Zhang Nie, former Singapore head of Chinese oil trader Unipec, purchased the five-storey homogeneous commercial building Liberty House for $92.2 million. Shophouses with public entertainment licences, allowing them to open until 3am, are particularly attractive to these investors. The six-storey commercial shophouse, Bugis Point on North Bridge Road, is already receiving multiple offers, mostly from Chinese nationals. Transactions of commercial shophouses are on a steady rise and more such properties are anticipated to make their way to the market in the coming months.