The Rail Mall
The Rail Mall is a commercial building in District 23 · Bukit Panjang, on land zoned RESIDENTIAL under the URA Master Plan. It is leasehold with roughly 20 years remaining. 1 transaction is on record since 1995, most recently in Jun 2024. ACRA records 0 live company registrations at this address.
What are the key facts about The Rail Mall?
- Asset class
- Commercial
- Land-use zone
- RESIDENTIAL
- Gross plot ratio
- Landed housing area
- Tenure
- Leasehold
- District / Area
- District 23 · Bukit Panjang
- Address
- 380,382,384 Etc Upper Bukit Timah Road
- Land area
- 7,177 sqm
- Completed
- Not on record
- Storeys
- Not on record
- Submarket
- Suburban
- Transactions on record
- 1 (records start 1995)
- Live listings
- None
- ACRA registrations
- 0
Who owns The Rail Mall, and what is it valued at?
- Announced 20 Jun 2024 · completed 15 Aug 2024PARAGON REIT sold The Rail Mall for S$78.5 million (cash consideration).At the time: NLA 49,886 sq ft
- Announced 30 Apr 2018DBS Trustee Limited, in its capacity as Trustee of SPH REIT bought The Rail Mall for S$63.2 million (purchase consideration) from Pulau Properties (Pte) Ltd.At the time: NLA 50,000 sq ft
Source: the owners' own filings on SGX — notices of valuation of real assets, acquisition and divestment announcements, and annual reports. Facts only, each with its date; a valuation is not a sale price, and occupancy and WALE are as of the date shown. Only REITs and SGX-listed companies file these: a building with a private owner shows no owner here.
About The Rail Mall
The Rail Mall is a mixed-use building in Bukit Panjang (District 23). It is located along Etc Upper Bukit Timah Road, Singapore 678040.
Under the URA Master Plan it sits on land zoned residential.
The site is leasehold, with about 20 years remaining on the lease. It occupies roughly 7,177 sqm of land.
1 transaction has been recorded here, at a median of S$744 psf. The most recent was in June 2024.
The nearest MRT is Hume MRT, 366 m away (about a 6-minute walk). The closest bus stop (Bef Hume Stn Exit 2) is 125 m away (about a 2-minute walk).
What is The Rail Mall zoned as?
- Land-use zone
- RESIDENTIAL
- Gross plot ratio
- Landed housing area
URA has not published a fixed plot ratio for this site — the Master Plan records "LND" (Landed housing area), meaning intensity is decided case by case on application. Do not quote a plot ratio, and do not compute buildable GFA from it.
What has The Rail Mall sold for?
| Date | Use | Price | Area | PSF |
|---|---|---|---|---|
| Jun 2024 | Shop House | S$78.50M | 105,563 sqft | $744 |
URA/JTC records from 1995 — that is where the record starts, not when the building was built. Strata and land deals can mix in one building's history; compare like with like. sqm ↔ sq ft converter
What does space at The Rail Mall rent for?
Retail space — District 23 retail
Region band · 2026Q3S$ per sq ft per month
A REGION BAND — URA's grid for the whole district or location, not this street or building. Say "across <district/location>, …", never that this building rents for it. The middle of URA's retail grid for District 23 across every floor and size band — a ground-floor shop and an upper-floor unit sit at very different points in it.
Source: URA REALIS retail rental analysis (district × floor × size grid).
Market context around The Rail Mall
- Suburban: Rent S$33.36 psf/mth · Vacancy 5.7% (1Q 2026) · Planned / under construction 1.53m sq ft
Official series (URA, 2026Q3): Retail vacancy rate (Whole Island) 6.5 (-0.4 pp on the year) · Retail rental index (Central Region) 81.2 (+1.4% on the year).
Brokers draw submarkets and grades differently; each figure is the broker's own, for its own area, cited to its report. Rents are per square foot per month.
What do commercial rents run near The Rail Mall?
Indicative area yield — District 23 retail
An INDICATIVE AREA yield for District 23 retail — NOT this building's yield, and not any unit's. Commercial rents are published as a district percentile grid, so both halves describe the district.
Priced on STRATA sales only: rent is quoted per unit of lettable area, and commercial land PSF runs far above strata — mixing them would shift the ratio sharply.
Net deducts the 10% non-residential property tax ONLY — not vacancy, maintenance, agent fees, financing, or the 9% GST on purchase.
Retail rents — District 23 ($ psm/month, 2026Q3)
| Floor level · size band | 25th pct | Median | 75th pct |
|---|---|---|---|
| B1 & Below · 30 & Below | $301.00 | $351.50 | $421.39 |
| Level 1 · 30 & Below | $337.00 | $386.49 | $398.56 |
| Level 4 & Above · >30 - 100 | $247.02 | $248.59 | $265.90 |
| Level 1 · >30 - 100 | $146.69 | $255.89 | $274.59 |
| B1 & Below · >30 - 100 | $312.82 | $320.00 | $323.19 |
| Level 2 & 3 · >30 - 100 | $168.47 | $207.40 | $244.22 |
| Level 1 · >100 - 300 | $87.55 | $123.10 | $164.64 |
URA REALIS rental-contract percentiles for the district/location — an area benchmark, not this building's own rents. Office and retail are dimensioned differently and are never mixed.
What is near The Rail Mall?
Getting around
- Hume MRT366 m · ~6 min
Amenities nearby
Competing premises nearby
Retail and F&B premises competing for the same footfall — context for an occupier, not a selling point.
Straight-line distances. Source: PropKaki amenities data.
Getting there and parking at The Rail Mall
nearest MRT/LRT Hume (DT4) 304 m, about 4,746 taps a weekday; 1 more station within 1 km; bus stops within 400 m: 8, about 5,216 taps a weekday; Bukit Panjang: 9,091 resident workers (Census 2020, by workplace); about 19,000 residents within 1 km (June 2026); 1 other mall within 1 km. Ranked against 12,856 retail buildings by PropKaki's model: a relative score, not a footfall count.
A relative score from PropKaki's model (station and bus taps nearby, workers and residents around, and competing malls), not a count of people.
Stations within 1 km
- Hume (DT4)304 m · 4,746 weekday taps
- Hillview (DT3)497 m · about 14,000 weekday taps
Taps are fare-card taps in and out at the station's gates on an average weekday (Jul 2026 to Sep 2026) — people passing through, not visitors to The Rail Mall. Transfers between lines don't tap, so interchanges read low.
Bus
8 bus stops within 400 m, with 5,216 boardings and alightings on an average weekday.
How many companies are registered at The Rail Mall?
- Live registrations
- 0
- Registered last 3 years
- 0
Company REGISTRATIONS at this address (ACRA), not a tenancy schedule. Registration does not mean the company physically occupies space here, and a low count does not mean the building is empty. Do not describe this as occupancy or vacancy.
Frequently asked questions about The Rail Mall
Where is The Rail Mall?⌄
The Rail Mall is at 380,382,384 Etc Upper Bukit Timah Road, Singapore 678040, in the Bukit Panjang planning area.
What is The Rail Mall zoned as?⌄
The Rail Mall sits on land zoned residential under the URA Master Plan.
What is the tenure of The Rail Mall?⌄
The Rail Mall is leasehold. About 20 years remain on the lease.
What have units at The Rail Mall sold for?⌄
Across 1 recorded transaction, the median price is S$744 psf. The latest was in June 2024.
What is the nearest MRT station to The Rail Mall?⌄
Hume MRT is the closest, 366 m away (about a 6-minute walk).
The facts are here — now get the verdict on The Rail Mall.
Ask what a unit here would fetch, what the zone allows, or how it compares.
PropKakiHere's the building's zone, its recorded deals and every live unit — and where the asking prices sit against them.