The Marina Bay Link Mall, one of Singapore’s newest underground malls, is reporting brisk business after just a month of opening.
Some tenants said sales have doubled since they started operations.
The mall has a catchment of about 55,000 workers and residents in the area.
The number is expected to grow with additional condominiums being built.
Currently, four in 10 of the retail space is occupied by food and beverage outlets.
By the first quarter of 2012, another 82,500 sq feet of retail space will be added.
Tenders will be called for by the first quarter of 2011.
Already more than half of the new space has been committed for banking services and DBS Bank is taking up 66 per cent of the new space.
“There is a huge population out here, from Raffles Place to Tanjong Pagar, to Shenton Way, and now at the Marina Bay area. There can be never too many shops and F&B. We need to make sure that we just have the quality, the good mix, and of course great customer service, to keep them coming back,” said Rose Tong, director of Marketing, Retail, with Raffles Quay Asset Management.
Source : Channel NewsAsia – 3 Feb 2011