NEX Shopping Mall is a regional suburban shopping mall in Serangoon. Serangoon is within the North-East Region of Singapore. NEX is the largest shopping mall in the North East Region and one of the largest suburban malls in Singapore. NEX is directly linked to Serangoon Bus Interchange, an integrated air-conditioned bus interchange in Singapore. Shoppers can travel via Serangoon Bus Interchange or Serangoon MRT station.
NEX was constructed on a 25,007.70 square metres site directly above Serangoon MRT station.The site was launched under the Government Land Sale Programme Reserve List and was first put on public tender in 2003 The site has a 99-year leasehold tenure and is classified as a white site. As the site was not awarded in 2003, it was launched again on 7 December 2007. A total of six bids were received when the tender closed on 26 March 2008. The tenderers were:
- 1. Gold Ridge Pte Ltd for $800,900,000.00
- 2. Serangoon Community Developments Pte Ltd for $727,000,000.00
- 3. FC Retail Trustee Pte Ltd (unit of Frasers Centrepoint) for $706,138,888.00
- 4. An entity comprising HSBC Institutional Trust Services (Singapore) Limited (trustee for CapitaMall Trust), NTUC Income Insurance Co-Operative Limited and NTUC Fairprice Co-Operative Limited for $660,926,828.00
- 5. An entity comprising City Ridgeview Pte Ltd (a unit related to City Developments), Hong Leong Holdings Limited and TID Pte Ltd for $401,000,000.00
- 6. Peak Star Pte Ltd for $215,000,000.00
The tender was eventually awarded to Gold Ridge Pte Ltd with a maximum gross floor area (GFA) of 87,527.00 square metres at a tendered price of S$9,150.32 per square metre of GFA.