SHENG Shiong will be buying a commercial property at Block 118 Aljunied Avenue 2 from Jelita Property for S$29.5 million, it said in a bourse filing on Friday.
The property, for running a supermarket, comprises units in the first and second storeys of a seven-storey Housing and Development Board commercial property with a four-storey public car park. It has a gross floor area of about 2,717 square metres, with a leasehold tenure of 86 years commencing from July 1, 1993.
It is located within a reasonable walking distance from Aljunied MRT station, and is near Geylang Polyclinic, NTUC Health Nursing Home and Aljunied Industrial Estate.
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