AMARA Holdings' shopping mall in Tanjong Pagar, 100 AM, will soon be home to Parco, after the group inked a lease agreement with the Singapore subsidiary of the Japanese department store operator. Parco (Singapore) Pte Ltd agreed to take up some 14,000 square feet of food and beverage (F&B) space at the mall. It plans to open a new restaurant zone named itadakimasu by Parco, housing a variety of...
Retail Space
Gambling tycoon Sheldon Adelson, whose Las Vegas Sands Corp. owns the landmark Marina Bay Sands, said he's considering selling the casino resort's retail assets after a government-imposed moratorium expires next year. The company has spoken with potential buyers, Chairman Mr Adelson said in a conference call after Las Vegas-based Sands announced first-quarter results Wednesday. "We have been...
Real estate company CapitaLand is calling for ideas for Funan DigitaLife Mall, which is set to close its doors for three years for redevelopment works from Jul 1. About 388,000 sq ft will be added to the mall’s current Gross Floor Area of 482,000 sq ft when the redevelopment is completed, according to CapitaLand. In a media release on Friday (Apr 15), CapitaLand said the public can submit their...
SHOPS and shophouses overtook residential properties in total sales value in auctions in the first quarter of this year, a report by Knight Frank released on Wednesday shows. Some S$5.5 million worth of shops and shophouses were sold in auctions in Q1, more than double the residential sector's S$2.5 million. This marked the first time since the second quarter of 2014 that the residential sector was...
Anchor tenants – like major department stores and big name brands – have long been used to pull the crowds into shopping malls. But against a more challenging retail landscape, industry analysts told Channel NewsAsia that this strategy may no longer have the same draw. The landlord-anchor tenant relationship is also coming under the spotlight, amid an ongoing rental dispute between landlord Ngee...
Japanese cheap-chic fashion brand Uniqlo will open its first global flagship store in Singapore and in the South-east Asia region "this autumn", according to a press release on Tuesday (Mar 29). The new store, which will be the largest in Singapore and the region, will be located in Orchard Central, and will have a sales area of about 2,700 square metres across three levels in the mall, the company...
Business associates for more than 22 years, the landlord of Ngee Ann City and its anchor tenant, department store Takashimaya, are tussling in a dispute over rent. In a High Court hearing that started yesterday, Ngee Ann Development and Takashimaya are seeking to resolve a deadlock as they cannot agree on the interpretation of a 2014 agreement on how rental rate is to be valued. The two parties...
Japanese lifestyle brand Muji is planning a new flagship store in Singapore. Masaaki Kanai, chairman of Muji's parent company Ryohin Keikaku, said on Tuesday (Mar 15) that the new flagship store is estimated to be around 3,300 square metres and will feature more lifestyle concepts. "Apart from the usual Muji products, the store will have an 'Open Muji' concept where community creators are invited to...
As Singapore retailers face pressure from the slowing economy, Orchard Road malls are looking for new ways to draw the crowds. Besides renovating the mall and changing the tenant mix, landlords are also throwing in free performances in a bid to attract the crowds. For example, over the weekend, shoppers at ION Orchard witnessed a series of aerial circus acts. The performances marked the completion of...
Home furnishing and accessories shop iwannagohome will close its outlets in Singapore, its parent company confirmed on Friday (Feb 26). Both its branches at Tanglin Mall and Great World City will be closed, said a spokesperson for the brand, which debuted in Singapore in 2007. Clearance sales have begun at both outlets. A retail employee told Channel NewsAsia that he was told the shop would close...