Yishun 10 could be redeveloped into mixed-use housing near Yishun MRT station

Some Singaporeans, especially long-time residents of Yishun and Khatib, will know of this building as GV Yishun, but the name of the four-storey mall is Yishun 10. 

In addition to the movie theatre, the strata-titled mall along Yishun Central is a popular shopping mall for residents of the area.

But Yishun 10 will soon be gone and in its place, the owner — Frasers Property — intends to redevelop the site into a new mixed-use development. 

Among a list of proposed amendments to the Master Plan 2025 published by URA on May 8, it included a proposal to rezone the commercial site to a mixed-use plot, namely “Residential with Commercial at 1st Storey”.

For some locals, this is a blow and a loss of the area’s long-standing local character and history. But there will be keen eyed buyers who will be following it closely as an ideal future home location.

Here’s what you need to know about the redevelopment of Yishun 10.

What’s going to happen with Yishun 10?

Located at 51 Yishun Central 1, Yishun 10 houses Singapore’s first multiplex cinema which opened in 1992. 

Besides the 10-screen Golden Village multiplex, it’s a long-standing social landmark for the residents in Yishun, and the strata mall comprises retail units, eateries such as Arnold’s Fried Chicken and Komala’s, and other long-running neighbourhood tenants.

The architecture of the building also stands out among the typical suburban commercial buildings. 

It was designed by Australian architect Geoff Malone, and the architecture of the building has a flamboyant style inspired by the themes of science fiction. 

It’s distinctive for its metallic surfaces, use of neon lighting, and a feature often called a “rocket ship” at the front of the building.

Yishun 10 belongs to a very specific era of Singapore’s commercial developments, particularly in suburban neighbourhoods, also known as the Outside Central Region.

In the 1990s and early 2000s, the design of many new heartland malls in suburban neighbourhoods leaned into brighter, bolder themes. 

Causeway Point, Bukit Panjang Plaza, Compass Point and Junction 8, for instance, had themed interiors or visual gimmicks that were more unique than the cleaner, more standardised mall designs common today.

Next to Yishun 10 is the mega-sized Northpoint City which is directly linked to Yishun MRT station on the North-South Line and Yishun Bus Interchange. 

The shopping mall also houses Nee Soon Central Community Club and Yishun Public Library.

Acquisition by Frasers Property

The redevelopment proposal for Yishun 10 comes less than a year after Frasers Property consolidated its ownership of the strata-titled mall.

In June 2025, Frasers Property entered into a sale and purchase agreement to acquire the portion of Yishun 10 that was not owned by Frasers Centrepoint Trust. 

That stake had been held by Hong Kong-listed cinema firm Orange Sky Golden Harvest Entertainment.

The sale price of Orange Sky’s stake in Yishun 10 was reportedly $37 million. Frasers Property then bought the remaining properties held by FCT in a deal worth $34.5 million. 

This ownership consolidation paved the way for the developer to initial redevelopment plans for the commercial site.

The proposed changes to the master plan indicates that Frasers Property intends to redevelop the site, turning it from a commercially zoned strata-titled mall into a new mixed-use residential and commercial project.

Based on media reports, Frasers Property says it’s exploring the “highest and best use” of the property. It says that for now it’s still  “business as usual” at Yishun 10, and no redevelopment timeline has yet been announced.

How big could the redevelopment be?

At the moment, Yishun 10 sits on a 37,674 sq ft plot, which has a gross plot ratio of 3.0, based on the current Master Plan. 

If the plot ratio remains unchanged, and the rezoning is successful, the new mixed-use development could yield around 90 to 100 private homes, along with a retail podium on the first floor.

However, this is an estimation and the final product will vary based on the type of commercial allocation, the size of the residential units, and any other changes to the allowable built-up area.

Looking ahead, the future development will be in a strong position to capitalise on the demand for private residential homes in Yishun Central, especially a new project close to the MRT and a major shopping mall.

The site is next to Yishun MRT station and Northpoint City. 

This proximity to key amenities is a strong demand driver, and it reflects a broader trend we’re seeing — increasingly, heartland commercial sites near MRT stations are being transformed into mixed-use residential projects.

One example was JCube in Jurong East. Once home to Singapore’s only Olympic-sized ice rink and a long-running entertainment mall, the site was redeveloped into J’Den, a 40-storey mixed-use residential development. 

Another example was Bedok Point, a suburban mall near Bedok MRT station that’s being redeveloped into the mixed-use Sky Eden @ Bedok.

From a more lifestyle perspective, the proposed rezoning and redevelopment of Yishun 10 comes as Singapore’s cinema landscape has been shrinking. 

Over the past few years, several long-running cinema operators and locations have disappeared: Cathay Cineplexes ceased operations last year, while Eng Wah shut down in 2024. 

Older neighbourhood cinemas such as Golden Village Tiong Bahru have also closed.

We should also keep in mind that Northpoint City is the main retail hub in Yishun, so the repurposing of Yishun 10 was less a question of “if” and more a question of “when".

From a land-use perspective, we think that the site’s strong location was increasingly difficult to justify as a standalone entertainment and retail property. Which makes its proposed repositioning timely.

Residents mourn the loss of more than a multiplex cinema

After the news of the proposed rezoning and potential redevelopment plans broke, online public reaction seemed to focus on Yishun 10’s place in people’s memory and the identity of the neighbourhood.

On Reddit’s r/singapore community, commenters reminisced about old arcades like Funland and Timezone, the days of the now defunct Comic Connection, and the availability of Indian movie screenings. 

There’s also a fair bit of concern at the loss of the local Arnodl’s Fried Chicken.

The news has also garnered some criticism about some of Singapore’s most unique or recognisable buildings, and the perception that they will be replaced with less architecturally significant looking contemporary developments.

Moreover, some Singaporeans commented that an increasing number of familiar entertainment and social spaces seem to be making way for more types of housing. 

Several online commenters also noted that while housing supply in the Yishun area continues to increase, infrastructure improvements, such as rail connectivity beyond the existing North-South Line, don’t seem to see much expansion.

From a planning perspective, the redevelopment makes sense

From our perspective, a redevelopment of Yishun 10 into a new mixed-use project would command stronger capital value, and help to uplift the average land values in the vicinity, than the existing strata-titled mall and cineplex could ever accomplish.

Northpoint City already integrates Yishun MRT station and the bus interchange, and its wide range of retail options meets the needs of most residents in the area.

But for many Singaporeans who grew up in the North, Yishun 10 will be hard to replace. 

It was part of a particular era of suburban Singapore, louder and more colourful, and a little more willing to experiment with its design and tenant mix.

Whether the future mixed-use development is able to replicate Yishun 10’s appeal as a niche local hangout will come down to a well-curated tenant mix, which complements rather than competes with Northpoint City.

In that sense, there is capacity for Frasers Centrepoint Trust — which owns Northpoint City — and Frasers Property to collaborate on a unified retail experience in this part of Yishun Central.

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