Private investor Cheong Sim Lam snaps up Holland Piazza mall in Holland Village for $100 mil

The two-storey Holland Piazza was formerly the Holland V Mall, with its trademark windmill (Photo: Colliers)

EdgeProp Singapore

/ EdgeProp Singapore

March 5, 2026 6:00 AM SGT

propertyeditor@edgeprop.sg

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Holland Piazza, a two-storey retail mall at the corner of Lorong Liput in Holland Village, has been purchased by private investor Cheong Sim Lam for $100 million, according to Colliers Capital Markets & Investment Services on March 5.

The price translates to $4,586 psf based on the mall’s gross floor area of 21,806 sq ft.

The standalone mall comprises two storeys, a terrace, and a basement. It was redeveloped from the former Holland V Mall — known for its trademark windmill. Prior to that, it was the site of the Eng Wah open-air cinema.

The mall houses a mix of restaurants, experiential concepts and retail operators, says Terry Wong, head of capital markets & investment services at Colliers.

The property sits amid the established shophouse-lined streets of Lorong Liput, Lorong Mambong and Chip Bee Gardens, a long-standing lifestyle and dining enclave in Holland Village.

“With the ongoing uplift of Holland Village and the addition of new residential supply, we expect occupier demand and footfall to increase, supporting both rental resilience and future repositioning strategies for the next owner,” says Wong.

The deal comes amid renewed transaction activity in Holland Village, even as the precinct adjusts to shifting footfall patterns following the opening of One Holland Village.

Last July, seven ground-floor retail units at Holland Road Shopping Centre, occupied by the CS Fresh supermarket, were sold for $71.1 million. It works out to $5,801 psf based on a combined strata area of 12,260 sq ft. The buyer was Millennium Century, a private investment holding company whose shareholders are Lee Sai Kit, Tay Lee Hoon and Sean Lee Ka Shing.

Earlier, in February 2025, the shophouse at 19/19A Lorong Liput was sold for $11.8 million, or $7,027 psf based on land area. The ground floor is tenanted to Mian Jia Noodle Bar, while the upper floor is leased to WeBarre fitness studio.

The property was acquired by the Goh family of lifestyle products retailer Ossia International, who had earlier purchased 18 strata retail units at the podium of Orchard Shopping Centre for $73 million.

Holland Village has undergone successive waves of revitalisation, most notably the redevelopment of the former carpark into One Holland Village by Far East Organization, Sino Group and Sekisui House.

Upcoming residential projects — including Holland Vista (342 Build-to-Order units) and the 666-unit Skye at Holland — are expected to expand the precinct’s catchment when completed in 2029. The nearby Holland Plain GLS site could yield about 280 homes and new community spaces linked to the Rail Corridor.

“As enhancements across the wider area gather pace, Holland Village is well positioned to benefit from higher footfall, stronger retail demand and sustained rental growth over the medium to long term,” Wong adds.

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