Singapore Post (SingPost) is to open a new retail mall at the SingPost Centre next to Paya Lebar MRT Station in the second half of this year.
SingPost Centre will house the new General Post Office, which combines traditional counter service with technology-enabled innovations such as POPStations and eSAM machines over a space measuring 3,330 sq ft. The new General Post Office will also have a heritage corner, where customers can enjoy a learning journey through SingPost’s 150 years of history serving the Singapore community.
CapitaLand Limited, through its wholly owned shopping mall business, CapitaLand Mall Asia, has signed its first third-party mall management contract in Singapore with SingPost for its upcoming mall at the new SingPost Centre, CapitaLand informed in its news release on 28 March.
The five-storey SingPost Centre mall, which has 269,000 sq ft of GFA, excluding car park, and a net lettable area of about 175,000 sq ft the mall will include household names such as supermarket NTUC FairPrice, cinema chain Golden Village, and food court operator Kopitiam, as well as leading retail brands, family entertainment outlets and enrichment centres, SingPost said.
Located conveniently next to the Paya Lebar MRT interchange station serving the East-West Line and Circle Line, SingPost Centre sits in the heart of Paya Lebar Central, a region in the east of Singapore with 120,000 square metres (sq m) of land earmarked by the Urban Redevelopment Authority for development into a vibrant commercial hub.
As the commercial hub nearest to the CBD, Paya Lebar Central is expected to house approximately 500,000 sq m of commercial space when fully developed. It will also be a stone’s throw away from the Geylang Serai civic area, which is expected to play host to a multitude of community events throughout the year.
These factors are expected to boost the population catchment and vitality of Paya Lebar Central, which in turn bode well for the prospects of the mall at SingPost Centre.
Under the contract, CapitaLand will oversee the pre-opening of the mall, marketing and promotion activities, lease management and facilities management.
Mr Mervyn Lim, Covering Group Chief Executive Officer, SingPost, said, “CapitaLand has an established track record for successful marketing and management of retail spaces in Singapore and across Asia. With CapitaLand as our mall manager, we will be able to optimise the returns from this property while we focus our attention on our core operations of postal services and eCommerce logistics.”
CapitaLand is one of Asia’s largest real estate companies. Headquartered and listed in Singapore, it is an owner and manager of a global portfolio worth more than S$78 billion as at 31 December 2016, comprising integrated developments, shopping malls, serviced residences, offices, homes, real estate investment trusts (REITs) and funds in the eastern part of the island, where it owns and manages Tampines Mall and Bedok Mall, and also Jewel Changi Airport, which is scheduled to open early in 2019.
Subscribe
Login
0 Comments
