The popular Queensway Shopping Centre is here to stay, the mall’s management has announced following a failed en bloc sale.
The 43-year-old mall was in danger of being shuttered following efforts to sell the mall along with the 13-story apartment tower it is linked to. Earlier reports of the sale had shocked mall fans, especially those who grew up visiting it for its array of sports apparel and sneakers, among other goods.
“En bloc sale is over,” the mall said in a cute video on its website Thursday. “Queensway Shopping Center is here to stay for many more years.”
A poster announcing the good news was also displayed at the mall, according to a photo posted to Sah Sports Centre’s Facebook page that has since been shared nearly 2,000 times. It is one of the more than 200 tenants. There are 78 apartments in Queensway Tower.
A committee agreed in April to proceed with the sale. Queensway Shopping Centre at the time was said to be worth around S$500 million.
However, the sale would only succeed if it had was supported by over 80% of stakeholders.
Among those who challenged the sale were Queensway Shopping Centre’s shop owners, according to a May report from Today news. Over 20% of them signed a petition against it.
Dozens of Singaporeans cheered the mall online today.
“Awesome news!! Good luck to all of you,” a Vimala Selvan wrote.
“Woohoo.. We can still go back there and hang out!!” Crystal Weisz said.
This article, God Saved the Queensway: Shopping center to stay after unsuccessful sale, originally appeared on Coconuts, Asia's leading alternative media company. Want more Coconuts? Sign up for our newsletters!