Sim Lim Square seeks $1.1b for collective sale

The 99-year leasehold Sim Lim Square in Rochor Canal Road is attempting a collective sale amid declining footfall in recent years, according to industry observers.
The 99-year leasehold Sim Lim Square in Rochor Canal Road is attempting a collective sale amid declining footfall in recent years, according to industry observers. PHOTO: THE NEW PAPER

SINGAPORE - The collective sale committee for Sim Lim Square, Singapore's gadget central, has settled on an asking price of around $1.1 billion and will begin getting signatures for its maiden collective sale attempt, The Straits Times understands.

Former presidential hopeful Salleh Marican, who runs Second Chance Properties and owns 12 commercial units in Sim Lim Square, stands to get around $30 million if the sale is successful.

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