According to Elegant Group, activities in the pipeline for The Clementi Mall include a character-themed Chinese New Year festive campaign and a festive food fair featuring local bakeries and F&B brands.
"CLI’s stake in The Clementi Mall is a testament to the quality of the asset. This partnership will create synergies and allow us to exchange best practices and enhance our retail offerings to create a vibrant lifestyle and shopping destination at Clementi," says David Cheong, managing director of Elegant Group.
Patricia Goh, CLI’s CEO of Southeast Asia, says the collaboration draws on its real estate advisory expertise, and aligns with CLI’s long-term strategy to deepen its foothold in high-quality retail assets and grow fee income through a “capital-efficient, partnership-led approach”.
Singapore-based Elegant Group was founded in 2015. It describes itself as a well-established real estate company with a focus on the operation and management of a diversified portfolio of retail, commercial and mixed-use developments in Singapore and Australia.
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As of Jan 30, its portfolio comprises 12 properties in Singapore and Australia and covering more than 1.5 million sq ft.
Besides The Clementi Mall, Elegant Group owns the adjacent Grantral Mall @ Clementi, as well as Grantral Mall @ Macpherson. In September 2025, UOL Group sold Kinex mall to the Elegant Group for $375 million. Located near Paya Lebar MRT Station, asset enhancement works will begin this year.
Across the road from Kinex, Elegant Group is in the process of redeveloping Tanjong Katong Complex, with works expected to be completed in 2027.
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Further east, Elegant Group undertook asset enhancement works at Changi City Point in 2024, introducing new international brands to the outlet mall.
Elegant Group’s ownership of two heartland malls in Clementi prompted a parliamentary question in January about the diversity of offerings and consumer choice in the area. In response, Senior Minister of State for Trade and Industry Low Yen Ling cited consumer demand preferences and prevailing economic conditions, adding that Singapore’s competition and consumer regulator is monitoring developments.
