Situated in the Ubi industrial estate near Paya Lebar Air Base, the eight-storey complex is Singapore’s largest dedicated used-car center, comprising 121 showrooms and offices, according to The Straits Times.
A showroom of CarTimes seen at Automobile Megamart. Photo via Instagram/cartimesgroup |
Tenants are largely car dealerships dealing in new and used vehicles, alongside related services such as leasing and financing.
The land lease was originally granted to a consortium of car dealers in 1996 for 30 years. It ends this year, and if the tenants do not all agree to extend the lease, they will need to vacate the building by July 18.
The May 15 deadline follows a final four-week extension granted by the Singapore Land Authority (SLA) after multiple earlier extensions.
Throughout the renewal process, unit owners failed at several points to reach unanimous agreement, causing the initial renewal offer to lapse before SLA revised the terms and issued a second offer.
The renewal premium is divided among unit owners based on factors such as size and location.
While some owners expressed confidence in securing financing before the deadline, lease renewal committee chairman Raymond Tang struck a more cautious tone.
He said: “The committee is thankful to the SLA for the lease extension and giving us more time for the payment. But you don’t know until the final day.” He added that the renewal would collapse if even one owner fails to make full payment.
Neo Tiam Ting, director of Think One Group, which owns four units, said some older owners had opted to sell, as they do not intend to remain in the trade long term.
Describing AML as the only “proper” used-car center in Singapore due to its tenant mix and features such as convenient parking and display facilities, Henry Heng of Prime Car Traders said he has no contingency plan if the renewal fails. “I just assume that it will go through.”
Similarly, 7 Ubi Close, home to Alpine Group and a BYD showroom run by Harmony Auto, has been under a rental arrangement since 2025.
SLA said it is “prepared to consider extending the tenancy” for both sites.
Comments are closed.