Compass Point will officially be renamed as Compass One, following a misadventure last December when the shopping centre in Sengkang was proposed to be called 1 Sengkang Mall.

The change in name is to reflect the change in the mall's management.

M&G Real Estate took full ownership of the mall in February 2016, having owned a majority stake since 2002.

M&G Real Estate is the real estate fund management arm of M&G Investments.

Previously, the mall was under Frasers Centrepoint, which manages a host of other malls, such as Bedok Point and Northpoint.

In a press release last week, M&G Real Estate announced that the revamped Compass One will have 50 new retailers, a children's playground and the Sengkang Public Library will be spread over two floors.

About 90 percent of the retail space in the mall have been leased to tenants and it is targeted re-opening will be in the third quarter of this year.

Supermarket chain Cold Storage and Kopitiam food court will also be back.

The mall has been completely closed off since last October and is currently still undergoing a major renovation.

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