The Compass One mall in Sengkang will reopen in September after being closed for nearly a year for renovation works, owner M&G Real Estate said in a press release on Thursday (Jul 28). The revamped mall will have a larger library spanning two floors, more educational facilities, larger common areas, and improved amenities including a children’s wet and dry playground. New tenants include...
Singapore Retail
Funan DigitaLife Mall, which closed this July, will undergo three years of redevelopment works, according to CapitaLand Mall Trust Management on Friday (Jul 22). This is to enhance the site's attractiveness as a lifestyle destination in the revitalised Civic and Cultural District in Singapore, according to its press release. Slated to be completed in the fourth quarter of 2019, the new integrated...
Singapore office space prices fell by 1.5 per cent in the second quarter. Rentals of office space also fell by 3.5 per cent in this quarter, compared to the 2.1 per cent dip in the first quarter of the year, URA figures showed. Meanwhile, prices for retail space fell by 3.1 per cent in the second quarter, following a 1.9 per cent dip in the previous quarter. Rentals of retail space also fell by 3.9 per...
Rents across both Grade A CBD office spaces and prime retail spots will likely continue to face pressure in the coming 12 months, says property consultancy Cushman & Wakefield in its Q2 Marketbeat reports. It forecasts declines across the board, except for prime suburban retail which has a stable 12-month outlook. On the retail front, the consultancy noted that there are increased food and beverage...
ALL the retail space of Centrium Square, which will come up on the current Serangoon Plaza site in Little India, is understood to have been sold to a foreign investor for S$135 million. This works out to S$4,967 per square foot based on the freehold strata area of 27,179 sq ft - all on the first two levels. The purchase is being made made by Canali Logistics, a Singapore-incorporated vehicle of...
Nine units of Holland Road Shopping Centre and one unit of 211 Henderson, an industrial building, are up for sale, either collectively at a guide price of just over S$24 million or on a piecemeal basis. All of them are freehold units and are being sold with vacant possession. They are owned by two companies controlled by the Lim family that used to operate Lim's Arts and Living, out of eight of the...
Funan DigitaLife Mall will close its doors on Thursday night after being operational for 31 years to make way for three years of redevelopment works. CapitaLand's senior management will host a "thank you" party for some 400 invited guests comprising tenants, loyal shoppers and mall staff at Funan's Main Atrium to celebrate the mall's milestones over the decades as it prepares to start a new...
Katong Shopping Centre has been put up for collective sale for the third time. The reserve price is set at S$630 million. This translates to a land price of S$2,248 per square foot per plot ratio. The mall, which contains 425 units, sits on a freehold plot of nearly 87,000 square feet. Situated along Mountbatten Road, it houses among others, offices, employment agencies, printing and tailoring...
As retail players in the Republic recalibrate their strategies to stay afloat amid turbulent times, more clarity from the Government over property cooling measures is needed, said Mr Terry O’Connor, CEO of mainboard-listed electrical, IT and furniture retailer Courts Asia. “We need some certainty in terms of what the policies are going to be and hope to see some long-term direction in the...
AVERAGE prime retail rents on Orchard Road fell for the sixth consecutive quarter in the second quarter of this year, CBRE Research said on Thursday. Prime Orchard Road rents stood at S$32.50 per square foot per month (psf/month), on average, in the second quarter, down 1.1 per cent from the first quarter of 2016. The prime suburban retail rents fell less sharply, with the average prime rent in that...