Liat Towers has installed and tested a new anti-flood system, in time for the wetter weather ahead. This is to prevent another episode of flooding, which caused severe damages to its basement shops in June. So the building's management has installed a S$200,000 flood barrier system. Liat Towers receives heavy rain warnings from PUB through SMS alerts. A security officer will then do a visual check to...
Singapore Retail
Rents along Orchard and Scotts Road edged higher in the fourth quarter after staying flat for four straight quarters. According to real estate consultancy DTZ, the average gross rent of first-storey space in the Orchard/Scotts Road area increased by a marginal 0.3 per cent or 10 cents on-quarter to S$39.80 per square feet per month. DTZ said there will be very little new supply coming on-stream in 2011...
A Malaysian lifestyle furnishing store has estimated that it suffered some S$800,000 worth of losses due to a late handover of premises by nex shopping mall. King and King Wong said it was handed the premises more than a month late - on December 1, instead of mid-October. The delay saw the lifestyle furnishing store missing out on the early crowds and potential revenue. The store said the delay was due...
ainboard-listed Amara Holdings has announced that it plans to give a $32 million face lift to its shopping mall at 100 Tras Street and re-brand it as "100 AM". Amara said the additions and alteration works to its existing four-storey Amara Shopping Centre is slated for completion in the second quarter of 2012. The revamp will add another 22,000 square feet of supermarket space at Basement 1 to the...
The single-biggest attraction of PoMo, the Selegie Road mall formerly known as Paradiz Centre that has been put up for sale, is its busy, city-fringe location. But converting footfall into shopping revenue may need a new tenant mix, analysts say. "At this moment, the tenant mix of the mall is not attractive," said Mr Samuel Tan, course manager for retail management at Temasek Polytechnic. "It does not...
Market experts said Selegie road mall PoMo which was put for sale on Wednesday will see much interest from investors. Experts said this is due to its busy, city-fringe location but added that a new tenant mix is needed to attract more shoppers. PoMo underwent a S$20-million refurbishment to increase its retail space three years ago. Formerly known as Paradiz Centre, the retail and office development has...
Owners of Tanglin Shopping Centre in Tanglin Road have put the building up for collective sale, which could be the biggest of its kind in the area. The property now comprises 363 shop, office and medical units, but can be redeveloped to have homes, shops, offices, or hotel rooms. Reports have put the reserve price for Tanglin Shopping Centre at $1.25 billion. This works out to a record price of about...
US$3.14 billion worth of direct commercial property investment deals in Singapore for the third quarter of 2010 was the third highest in the Asia-Pacific region behind Japan and Australia. In terms of quarter-on-quarter growth, the 358 per cent increase recorded for Singapore in Q3 placed it as the top market mover in the region for the quarter, according to Jones Lang LaSalle. Major deals in the...
Southeast Asia's largest property developer CapitaLand said on Friday it had sold units at a property in downtown Singapore for a total of S$218 million. Its indirect subsidiary Adelphi Property Pte. Ltd has sold 86 office units and 77 retail units to Guthrie Pte. Ltd. and its joint venture partner Sun Venture Property Pte. Ltd. The property is a 999-year leasehold, 10-storey mixed-use building...
The latest mall in Singapore, the Nex in Serangoon Central, is packing in the crowds. But those driving to mall are complaining there are not enough carpark lots. The mall claims it is attracting 70,000 customers daily since it opened last week. Shopowners are happy, with business exceeding targets. But outside the mall, shoppers are complaining of high traffic volume and tailgating cars right to the...