CapitaLand’s Funan mall reaches 95 percent occupancy before opening

CapitaLand Integrated Commercial Trust's Funan mall in SingaporeCapitaLand Integrated Commercial Trust's Funan mall in Singapore

Newly redeveloped Funan mall reached 95 percent committed occupancy ahead of its opening Friday, with more than 190 brands among the tenants, CapitaLand and CapitaLand Mall Trust said in a filing to SGX Tuesday.

“This points to the continued market demand for centrally-located and well-designed retail spaces that enjoy inherent shopper traffic as part of a quality integrated development,” Tony Tan, CEO of CapitaLand Mall Trust Management, the trust’s manager, said in the statement.

Funan is owned by CapitaLand Mall Trust and managed by CapitaLand.

The newly signed tenants include Taobao’s new concept store in Singapore to integrate the Alibaba-owned e-commerce site’s online and offline channels, the filing said. The store will offer products from Taobao, including furniture, household items, textiles and clothing, the filing said.

Nikon will also have its first standalone outlet in the mall, with the shop including workshop space for photography tutorials, the statement said.

Premium Swiss sewing machine brand Bernina will also be a tenant, with sales of sewing machines as well as offering sewing workshops, the statement said.

Around 25 percent of Funan’s retail space will be taken up by 80 food and beverage outlets, including a cluster of ramen restaurants, the property developer said.

The Funan development has around 887,000 square feet in total gross floor area and includes a retail component, two office blocks and lyf Funan Singapore, which is a coliving serviced residence. The mall will have an underpass linking it to the City Hall MRT station.

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