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Oasis Terraces is a mid-sized suburban shopping center located in the Punggol neighborhood of northeastern Singapore, developed by Allgreen Properties and opened in 2017 as part of a mixed-use development that includes residential towers.
Spanning approximately 200,000 square feet of gross leasable area, the mall targets middle-income families and young professionals in the growing Punggol New Town area, which has seen rapid population expansion due to government-led housing initiatives. The tenant mix emphasizes everyday essentials and community-oriented retail, with anchor tenants including a FairPrice Xtra supermarket covering 25,000 square feet and a 24-hour Cheers convenience store, complemented by a variety of F&B outlets such as McDonald's, Ya Kun Kaya Toast, and local hawker-inspired eateries like The Soup Spoon, which account for about 35% of the space.
Dining options are diverse, featuring casual Asian cuisine and quick-service chains, while fashion and lifestyle stores like Cotton On and Miniso occupy 20% of the leasable area, focusing on affordable apparel and accessories. Health and wellness services include a Unity Health clinic and Guardian pharmacy, enhancing its role as a neighborhood hub.
Accessibility is strong via Punggol MRT station (North East Line) just 300 meters away, with sheltered walkways connecting to residential blocks, and ample parking for 400 vehicles plus EV charging stations. The surrounding demographic profile shows a population of over 150,000 within a 3-kilometer radius, predominantly households with children under 15 (45%) and median household income of SGD 8,500 monthly, above the national average, driven by young families relocating under the Build-To-Order program.
Occupancy rates have stabilized at 92% as of mid-2025, per JLL Singapore retail reports, reflecting resilient demand despite e-commerce pressures, with average base rents ranging from SGD 15-22 per square foot monthly, negotiable for longer terms.
Leasing advantages include flexible unit sizes from 500 to 5,000 square feet, promotional support through joint marketing with residential management, and lower turnover compared to urban malls. However, the mall faces challenges from nearby competition and market saturation in F&B categories. Punggol's ongoing development, including the Punggol Coast MRT extension slated for 2026, positions Oasis Terraces for future growth in footfall, projected to rise 15% by 2027 according to Knight Frank insights, but retailers should note seasonal dips during school holidays and potential infrastructure strains from population influx.
Overall, it offers a balanced opportunity for category-defining stores in groceries and casual dining, with risks mitigated by its integrated community setting.
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Hours of Operation
Hours
| Monday | 10:00 AM — 10:00 PM |
| Tuesday | 10:00 AM — 10:00 PM |
| Wednesday | 10:00 AM — 10:00 PM |
| Thursday | 10:00 AM — 10:00 PM |
| Friday | 10:00 AM — 10:00 PM |
| Saturday | 10:00 AM — 10:00 PM |
| Sunday | 10:00 AM — 10:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographic Profile and Footfall
The primary catchment area for Oasis Terraces encompasses Punggol New Town and adjacent Sengkang, with a 2025 estimated population of 180,000 residents, characterized by 60% aged 25-44 and 40% families with children, per Urban Redevelopment Authority data. Median household income stands at SGD 9,200, supporting mid-tier retail spending. Daily footfall averages 12,000 visitors, peaking at 18,000 on weekends, bolstered by proximity to schools like Punggol Primary and community events hosted quarterly. This demographic favors value-driven purchases in groceries and F&B, contributing to 65% of sales volume, though lower discretionary spending on luxury items compared to Orchard Road malls poses a limitation for high-end brands. Growth potential exists with Punggol's population projected to reach 250,000 by 2030, enhancing long-term viability for family-oriented tenants.
Competitive Landscape and Market Saturation
Oasis Terraces operates in a competitive northeastern Singapore retail cluster, with direct rivals including Punggol Plaza (opened 2018, 150,000 sq ft, similar tenant mix) and the larger Sengkang Grand Mall (300,000 sq ft, 95% occupancy). Within 2 km, over 50 F&B outlets create saturation in casual dining, leading to average category sales of SGD 1,200 per sq ft annually, below the island-wide average of SGD 1,500 per CBRE reports. Strengths lie in its residential integration, reducing leakage to competitors, but weaknesses include limited anchor draw for fashion, where e-commerce captures 30% market share. Retailers entering should differentiate via experiential elements, as undifferentiated quick-service faces 10-15% vacancy risks in oversupplied segments; conversely, underserved niches like pet supplies show 20% YoY growth opportunities.
Lease Terms and Operational Quality
Base rents at Oasis Terraces range from SGD 18-25 per sq ft monthly for ground-floor units, with turnover rents at 7-10% of sales above breakpoints, offering flexibility for performance-based structures, as detailed in Savills Q2 2025 leasing guide. Lease terms typically span 3-5 years with 5% annual escalations, including fit-out contributions up to SGD 50 per sq ft for qualifying tenants. Operational quality is solid, with 24/7 security, energy-efficient HVAC systems achieving 15% lower utility costs than older malls, and digital wayfinding apps improving navigation. Challenges include occasional escalator maintenance disruptions in high-traffic areas and parking constraints during peak hours, potentially impacting dwell time. For retailers, this translates to predictable costs and reliable upkeep, but due diligence on CAM fees (SGD 3-4 per sq ft) is advised to avoid surprises in saturated categories.
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