Two adjoining double-storey shophouse units along Syed Alwi Road are up for sale at a guide price of $9.2 million, or $2,305 psf on the floor area, according to sole marketing agent ETC, a member of Realion Group.
Located near the junction of Jalan Besar and Syed Alwi Road in District 8, the shophouses at 68 and 69 Syed Alwi Road are within 350m of Jalan Besar MRT station on the Downtown Line. Each unit occupies a land area of approximately 105 sqm and a floor area of approximately 185 sqm, says ETC in a Jan 5 announcement.
The tenure of 68 Syed Alwi Road is for 99 years from Nov 12, 1999; while the tenure of 69 Syed Alwi Road is for 99 years from Nov 15, 1999.
Under the URA Master Plan 2025, the properties are zoned for commercial use and are therefore not subject to Additional Buyer’s Stamp Duty (ABSD) or restrictions on foreign ownership.
The shophouses can be sold either individually or collectively. The sale will be conducted via an expression of interest (EOI) exercise, which will close at 3pm on Jan 29.
Jalan Besar has evolved into a dynamic commercial and lifestyle enclave, says ETC, blending heritage character with contemporary uses. The area is known as a popular food destination with established eateries, such as Sungei Road Laksa, Swee Choon Tim Sum and Beach Road Scissors Cut Curry Rice.
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The precinct is further supported by nearby retail malls, including New World Centre, Jalan Besar Plaza, Mustafa Centre and Centrum Square, adds ETC.
Swee Shou Fern, head of investment advisory at ETC, says shophouses in District 8 have seen growing investor interest in recent years, “driven by the precinct’s exciting gentrification from a traditional hardware-centric area into a trendy and bustling commercial and lifestyle hub”. “Today, the area’s long-term investment appeal is underpinned by a combination of heritage character, location and the broadened mix of uses, which continue to generate strong and sustained footfall and demand.”
Based on URA caveat records, a total of 77 shophouse transactions were recorded in 2025. District 8 accounted for the highest share at 24 transactions, or approximately 31% of total shophouse transactions.
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Against this backdrop, these two adjoining shophouses along Syed Alwi Road are well-suited for both owner-occupiers and investors, adds Swee. “[They cater] to both investors seeking income visibility, as well as owner-occupiers looking to build a business presence within a bustling precinct.”
Three adjoining two-storeyed shophouses on the same street — 65, 66 and 67 Syed Alwi Road — were put up for sale by ETC in August 2020.
