A NEW mall at Serangoon Central has secured 30-per-cent commitment rate for its food and beverage outlets and speciality shops - more than four months after it broke ground. Expected to open by the end of next year, the mall - christened "nex" - will be the biggest mall in north-east Singapore. Anchor tenants include cineplex operator Shaw Organisation, foodcourt operator Food Junction, hypermarket...
Retail Space
Property developer Far East Organization has said its S$700 million Orchard Central mall is on track to open in June. The 12-storey mall has just obtained the temporary occupation permit. It expects to raise tenancy take-up rate to 75 per cent in the coming months, from the current 65 per cent. Far East Organization said Orchard Central will stand out from other malls when it opens in about two...
Tampines 1, Singapore's newest shopping mall, will open on April 9 with full tenancy confirmed. The S$450 million mall will join two others, Tampines Mall and Century Square in that area. Located beside the Tampines MRT station, the six-storey mall will have 172 tenants. More than 75 per cent of its tenants will open this Thursday. These include IT shop Challenger, Japanese clothing giant Uniqlo, and...
Twenty-four stallholders at Chinatown's night market along Pagoda Street have been asked to move. But some are unhappy, saying they would rather stay put. Their relocation is part of efforts by the Singapore Tourism Board to redevelop the area. Stallholders were initially given until the end of March to move out, but now they have until the end of next month. Negotiations between the Chinatown Business...
ION Orchard, one of Singapore's largest shopping malls, is set to open this July amid the dismal economic outlook and falling consumer confidence. In a filing to the Singapore Exchange, CapitaLand said tenants have already committed to lease 80 per cent of space in the mall. 60 per cent of the retail space will be devoted to flagship stores and new-to-market brands including Boucheron, Dsquared and Diane...
Four industry bodies in Singapore have banded together to battle the current downturn. The Singapore Retailers Association, the Restaurant Association of Singapore, the Singapore Jewellers Association, and the Textile and Fashion Federation have pledged to share information and create a unified stance on matters common to their industries. In a joint statement, the four industry bodies say they have tied...
A 40-year-old shopping icon in Orchard Road is at risk of losing its tenants to upcoming malls in the area. Sources told Channel NewsAsia that about half of Shaw Centre's office and retail tenants had moved out within the last six months. Many of them refused to renew their leases after Shaw raised rents by about 100 per cent. Tyan and Betty Barclays, both upmarket boutiques on the ground floor of Shaw,...
Singapore's Marina Bay Sands integrated resort will unveil details of plans for its retail space after the Chinese New Year in January next year. Recent reports said its parent company, Las Vegas Sands, is facing financial difficulties. But the Singapore firm remains confident about prospects for its retail business. The S$5.4-billion Marina Bay Sands project is still being built. When completed, it will...
Landlords and their retail tenants are seeking the same present from Santa as Christmas approaches - a return to the good times. The shop tenants are worried that there will be a dip in consumer spending as a result of the economic downturn. Meanwhile they are still paying top dollar for retail space. While market watchers say they certainly are not expecting rents to rise in the final quarter of this...
The dip in consumer spending due to the economic downturn has caused concerns among many retailers who are paying top dollar for retail space. Market watchers said they do not expect any rental growth in the 4th quarter, but some retailers may be holding out for concessions. Orchard Road, Singapore's prime shopping district, is set to welcome four new malls next year - ION Orchard, 313@Somerset, Orchard...