Frasers Property Singapore’s mixed-use development in Bedok, Sky Eden@Bedok, is now offering its retail podium for sale through an expression of interest. The guide price for the podium, which consists of 12 strata retail units on the ground floor, is $45.2 million.
The total strata area of the podium is approximately 11,193 sq ft, translating to a guide price of $4,038 psf. The retail units can be sold collectively as a portfolio, individually, or in clusters, as stated by marketing agent CBRE. The units range in size from 398 sq ft to 1,313 sq ft, with prices starting from $1.91 million to $5.55 million. All the units are approved for F&B use.
Located in Bedok Central, Sky Eden@Bedok is currently under construction. It is a 99-year leasehold development with 158 residential units spread across two 16-storey towers, situated on top of the retail podium. It is just a short walk away from the Bedok Integrated Transport Hub, which comprises Bedok MRT Station and a bus interchange that is connected to Bedok Mall.
Launched in September 2022, Sky Eden@Bedok was the first private residential launch in Bedok Town Centre in a decade. All residential units have been fully sold since then, and the development is expected to receive its temporary occupation permit in the fourth quarter of 2025.
According to Michael Tay, the head of capital markets for Singapore at CBRE, the strata retail units at Sky Eden@Bedok are the first private commercial properties available for sale in Bedok Town Centre. He also mentions that due to the manageable quantum of the asset, CBRE is confident that it will attract various investors, including boutique real estate funds, family offices, high net worth individuals, and F&B business owners looking to venture into the tightly held residential enclave.
It is crucial for international investors to be familiar with the guidelines and limitations surrounding property ownership in Singapore. Unlike landed properties, which have stricter regulations, foreigners are generally able to acquire condos with fewer restrictions. However, they must adhere to the Additional Buyer’s Stamp Duty (ABSD), which is currently set at 20% for their initial property purchase. Despite this extra expense, the stability and potential for growth in the Singapore real estate market remains a strong attraction for foreign investment. In fact, many are drawn to the purchase of a Singapore Condo due to its promising returns.
The EOI for the retail podium will close on April 3 at 3pm. Interested parties can check out the latest listings for Sky Eden@Bedok properties on Ask Buddy. They can also view the 2-bedroom floor plans, site plan, and transaction data for the development, as well as other projects in District 16 on the website.