Firmus Capital fund buys Singapore mall

Singapore-based Firmus Capital, a boutique real estate management platform, has acquired Le Quest Mall, a residential area east of Singapore’s planned eco-city project in Tengah, reported Business Times.

The seller was Qingjian Realty. The sales price was not reported.

The mall totals 64,584 square feet and is the retail component of private mixed-residential development Le Quest. Tenants include FairPrice Finest, Koufu, McDonald's, KFC, Pizza Hut and Guardian Pharmacy.

Lim Su Kiat, CEO of Firmus Capital, said, “Le Quest Mall is a convenience centre that is well-located, with good accessibility serving a dense and growing catchment population. Our strategy is to curate a strong tenant mix focusing on necessities, essential services and F&B, and to position Le Quest Mall as top-of-mind for convenience-based shopping for the nearby residents.”

The latest acquisition brings Firmus' newly launched Firmus Opportunity Fund VCC's total assets