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Category: Real Estate

Retail News Asia is committed to providing both local and global retailers with the latest Real Estate news throughout the Asian market. This on a daily base.

  • Singapore’s CapitaLand Mall Trust boosts property revenue

    Singapore’s CapitaLand Mall Trust boosts property revenue

    CapitaLand Mall Trust (CMT), has achieved net property income (NPI) of S$273.3 million for the half year to June 30.

    That represents a 10-per-cent increase on the same period last year, boosted by the 100-per-cent contribution of Westgate, of which the trust acquired the balance 70 per cent interest during the fourth quarter of last financial year.

    Tony Tan, CEO of CapitaLand Mall Trust Management Limited (CMTML), which manages CMT, said the trust would receive a further boost from the second half of this year from the opening of the new Funan mall on June 28.

    “The contributions from Westgate and Funan are expected to anchor CMT’s steady financial performance while we embark on the rejuvenation of Lot One Shoppers’ Mall starting from the third quarter of 2019,” said Tan.

    “Proposed works include expanding the footprint of the public library to enhance the mall’s community focus and reformatting the cinema to house smaller screens that better serve moviegoers’ demands for variety.”

    Tan said that against a backdrop of a slowing Singapore economy, the trust remains cautious in its outlook.

    “Competition for the consumer wallet is expected to stay keen with the progressive opening of new malls, although the supply of new retail space is projected to taper off from 2020. As a proactive REIT manager, we will continue to review our portfolio for possibilities to create value through acquisition and development opportunities.”

    For the second quarter, CMT’s gross revenue and NPI rose 10.6 per cent and 10.2 per cent respectively year-on-year. The improvement in gross revenue was mainly due to the completion of the acquisition of the Westgate stake on November 1, which contributed $18.4 million to gross revenue. Funan’s reopening on 28 June 2019, after a three-year redevelopment, contributed $900,000 to the total gross revenue of the group. The increase was partially offset by lower gross revenue from Sembawang Shopping Centre, which was divested on June 18 last year.

    CMT owns and invests in 15 shopping malls, primarily in Singapore: Tampines Mall, Junction 8, Funan, IMM Building, Plaza Singapura, Bugis Junction, JCube, Raffles City Singapore (40-per-cent interest), Lot One Shoppers’ Mall, 90 out of 91 strata lots in Bukit Panjang Plaza, The Atrium@Orchard, Clarke Quay, Bugis+, Bedok Mall and Westgate. As at June 30, CMT owned 12.3 per cent of CapitaLand Retail China Trust.

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  • Positive outlook for Singapore retail leasing sector

    Positive outlook for Singapore retail leasing sector

    Ongoing investment-sale activity for malls suggests a positive outlook for the Singapore retail leasing sector, reports Edmund Tie & Company – especially for properties well connected to public transport and offering experiential and activity-based retail options.

    In a report Q2 2019 Real Estate Times for the Singapore market, the property company projects islandwide rental growth will be mixed, ranging from a 2 per cent decline to a 2 per cent increase this year. The low supply pipeline from next year onwards is likely to provide some underlying support to occupancy rates and rental levels.

    Investment market 

    For the second consecutive quarter, investment transaction value (of properties valued above S$100 million) jumped more than 52 per cent quarter on quarter with two transactions totalling $961 million. The largest sale was Chinatown Point for $520 million to a foreign institutional investor.

    The net supply of space fell by about 78 per cent as fewer projects were completed. As such, islandwide occupancy declined slightly by 0.4 percentage points to 90.1 per cent in the first quarter, however, the opening of Funan mall with 325,000sqft net lettable area – with 95 per cent of space pre-leased – is not expected to significantly impact occupancy rates in the second quarter.

    Rental rates 

    Singapore retail leasing rates across the different market segments remained largely flat, as occupancy rates remained high for malls located in prime positions. Upper-storey retail in the Orchard Road/Scotts Road area likely fell slightly due to weakened tourist spending, while the prime malls in the suburban areas continue to attract major brand retailers and new-to-market brands.

    The net demand and supply for retail spaces in suburban areas slowed in the first quarter, with the occupancy rate down marginally.  Prime-located malls with easy transportation access and a diverse and well-managed tenant mix continued to perform relatively well.

    New openings included Cafe Amazon outlets at Jewel Changi and Jurong Point Shopping Centre, and Xing Fu Tang (a Taiwanese bubble tea chain) opened a permanent store at Century Square in the second quarter.

    New space supply pipeline 

    From the third quarter of this year through to 2022, some 1.1 million sqft of retail space is expected to come onstream, with the majority of that to be completed in the second half of this year. The largest will be the Paya Lebar Quarter mall of about 313,000sqft.

    The average annual pipeline of known projects from next year through to 2022 is less than 150,000sqft, which is substantially below the three- and five-year average.

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  • Hong Kong’s retail leasing market easing

    Hong Kong’s retail leasing market easing

    Hong Kong’s retail leasing market is showing signs of slowing in tandem with easing retail sales.

    According to real estate advisor Savills says shopping-mall rents changed little in the second quarter, while prime streetfront retail rents fell by 1.9 per cent.

    Savills does not expect any “big headline deals” in retail rentals during the second half of this year.

    “The market lacks the momentum for active growth with unstable external factors having a powerful effect,” said Nick Bradstreet, MD and head of leasing.

    Hong Kong retail sales are down 1.8 per cent during the first five months of this year. Over a similar time frame, prime shopping street rents fell by 1.2 per cent quarter on quarter, with Central district dropping the most, by 3.8 per cent.

    In the major shopping-mall segment, base rents remained generally steady. This was helped by deals with major food-and-beverage tenancies at the newly opened OP Mall in Tsuen Wan:  Ruby Tuesday taking 5000sqft of space and Hadilao Hotpot 8000sqft at HK$400,000 per month.

    The lull in Hong Kong’s retail leasing market comes at a time shopping-centre landlords and retailers are reviewing their offer to shoppers.

    Savills says new market trends are emerging rapidly in Hong Kong and Southeast Asia: brands are turning to augmented reality (AR) to enhance the customer experience and retailers are thinking of new green initiatives with consumers responding positively.

    “Despite the slowdown in retail figures, we see that new technologies are being adapted to upgrade the customer experience, changing the retail landscape,” said Bradstreet.

    AR examples include an Ikea app which allows users to ‘place’ 3D furniture in their homes to scale, Benefit Cosmetics is encouraging customers to try on different eyebrow shapes before they shape their real ones; and MAC has launched an AR Beauty Try-On campaign.

    On the green front, the use of banana leaves for packaging vegetables and other fresh produce was initiated by Rimping Supermarket in Thailand, and then adapted by major supermarkets in Vietnam and Indonesia (including Big C, Lotte Mart and Bintang). Although still in its testing phase, the idea is being well received by shoppers and retailers have reported a boost in sales for products packaged this way.

    Simon Smith, senior director, research & consultancy at Savills, said trade tensions are hitting businesses across southern China and consumers are spending less on big ticket items as a result.

    “Landlords today seem to be more flexible when renewing existing tenants and are open to reducing rents if necessary.”

  • CapitaLand unveils reimagined Funan to the public

    CapitaLand unveils reimagined Funan to the public

    unan, one of Singapore’s best-known and most enduring retail icons, reopens its doors to shoppers today after three years of redevelopment, starting a new chapter in its storied evolution.  Home to a rich variety of more than 190 brands clustered around six passion themes Tech, Craft, Play, Fit, Chic and Taste, the new Funan is set to become the centre of commercial, social and cultural activities in Singapore’s Civic District.  Injecting vibrancy to Singapore’s retail scene, more than 30% of Funan’s brands are new-to-market brands, concepts or flagships.  As a showcase for local talents, more than 60% of Funan’s brands originate from Singapore.

    In a nod to its past, the new Funan will go beyond selling IT products to incorporating the tech experience throughout the entire development.  Executives entering Funan’s twin office blocks enjoy the convenience of facial recognition turnstile access.  Using one of the about 40 smart directories in Funan, shoppers can browse and search for trending merchandise before mapping the shortest route possible to reach a store with the wayfinding system.  Enabled by sensors, these smart directories can also make product recommendations based on the shopper’s demographic profile.  By year-end, shoppers can expect a robot-enabled handsfree shopping and 24/7 click-and-collect drive-through service.

    Out of approximately 400 carpark lots at Funan, 36 lots are set aside for its carpark reservation system, whereby drivers can book a day in advance via the CapitaStar app.  Upon arrival, drivers will be guided to their allocated lots by the video-based smart carparking facility.  Users of Funan’s Bicycle Hub gain access to the shower rooms using the CapitaStar app, which is also leveraged by tenants The Ark and Golden Village to offer seamless online-and-offline experiences for their customers.  Access to the Makers Studios at Funan’s Tree of Life is also fully automated via QR codes.  Behind the scenes, Funan utilises video analytics to measure and analyse footfall throughout the mall and entering each store.  In-store smart terminals further capture transaction data so that tenants can use the analytics to refine their offerings and enhance customer experiences.

    Mr Chris Chong, Managing Director, Retail, CapitaLand Singapore, said: “From Funan Centre in 1985 to Funan The IT Mall in 1997, and from Funan DigitaLife Mall in 2005 to Funan today – each change represents an evolution of the mall’s positioning to serve the needs of different generations of consumers.  The reimagined Funan relaunches the mall as a social retail space for discovery, learning and shopping, underpinned by a digital layer of customer experience to enhance satisfaction.  With this configuration, CapitaLand aims to support retailers in embracing opportunities in the brave new world of bricks-and-clicks by attracting and growing a responsive and vibrant community, powered by an ecosystem of sensors and analytics to deepen consumer insight.  As Funan enters a new era, we remain committed to innovate Funan’s offerings to keep its retail platform dynamic and relevant.”

    Mr Tony Tan, CEO of CapitaLand Mall Trust (CMT) Management Limited, said: “As Singapore’s largest retail real estate investment trust, we are cognisant of the importance to stay competitive by adapting to the evolving retail landscape, so that we can deliver sustainable long-term returns to our unitholders.  Conceived to support retailers’ omnichannel strategies, the redevelopment of Funan represents CMT’s effort to pave the way forward in serving the needs of present and future generations of shoppers.  We are heartened that Funan’s latest transformation has been well-received by the market, having achieved robust levels of 95% for retail leasing and 98% for office leasing.  We will remain vigilant in monitoring market trends and continually identify ways to future-proof the malls in our portfolio.”

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  • GIC Partnering to build India’s largest shopping mall

    GIC Partnering to build India’s largest shopping mall

    Singapore’s sovereign wealth fund GIC is partnering with Indian property developer DLF, to construct India’s largest shopping mall.

    Down Town will be a mixed-use development of more than 2.5 million sqft, featuring retail and commercial space. It will be built on a 23-acre parcel of land owned by DLF in Gurugram.

    “The retail mall will be part of this 8 million sq ft project that will also have a component of serviced apartments, a five-star hotel, and commercial development,” an unnamed person with knowledge of the matter told an Indian news channel.

    “The project will be developed in two-three phases in more than five years.”

    The joint venture between DLF and GIC was formed in late 2017. The two companies are already working on a high-rise residential project of about 7 million sqft near Central Delhi.

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  • Aeon Vietnam to build another Hanoi mall

    Aeon Vietnam to build another Hanoi mall

    Aeon Vietnam will invest US$280 million for its third property in the capital city, Hanoi.

    The mall, in South Hanoi, is scheduled to open by the end of next year, according to Aeon executive director and general director of Aeon Mall Vietnam, Yasutsugu Iwamura.

    The Japanese retail giant plans to have 20 malls in Vietnam by 2025. It already has four trading,  in Ho Chi Minh City, Hanoi and the southern province of Binh Duong. Two others are under construction in Hanoi and the northern city of Hai Phong.

    The retailer hopes to have a strategic partnership with Vietnam retailers, increasing sales of agricultural products to Japan through its system.

    It plans to double imports from Vietnam to US$500 million next year, and double again to US$1 billion by 2025.

    Last year Aeon’s imports were worth US$245 million, with clothing accounting for 55 per cent of that figure.

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  • Parkson Holdings Extends Store Lease in China

    Parkson Holdings Extends Store Lease in China

    Parkson Holdings’ Beijing operation Parkson Retail Development (PRD) has extended a department store lease in the city until the end of 2021.

    PRD’s Hong Kong-based owner PRGL announced in a stock exchange filing in Hong Kong the firm has signed a new lease agreement for a 189sqm area from the China National Arts and Crafts Group in Beijing’s Fuxingmen. It has agreed to pay a quarterly rental of RMB2.5 million (US$361,800).

    The group has been conducting retail activities at the site for 20 years and this lease follows renewals of seven other leases in the same building back in February. In total, Parkson leases 23,887sqm in other areas of the museum from the same landlord for terms extending as far as the end of November 2028.

    A statement from PRGL said the operation has brought stable revenue in the past, and that the new lease brings continuity to the group’s retail efforts in a location familiar to its long-term customers.

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  • Singapore’s Funan mall Opening Date Revealed

    Singapore’s Funan mall Opening Date Revealed

    Funan mall is set to open its doors on June 28 – ahead of schedule after a three-year redevelopment.

    Located in the heart of Singapore’s Civic District, the mall will host more than 180 brands under six themes: tech, craft, play, fit, chic and taste. One in three of the stores will be new-to-market brands, new concept stores or flagships.

    “Shaped by its unique location in a new-gen live-work-play hub, Funan brings together experiential and activity-based retail at a scale not seen before in Singapore’s Civic District, while providing a collaborative platform for retailers to share their brand stories,” said Chris Chong, MD, retail, at CapitaLand Singapore.

    “With a dedicated community manager, Funan goes beyond a singular focus on achieving a certain retail mix to curate community experiences that consumers are passionate about, as it seeks to build social connections and networks beyond the transactional.”

    Experiential and activity-based retail takes centrestage at Funan – Climb Central will operate the highest climbing facility in the Civic District, extending from the base of the Tree of Life at Basement 2 to Level 1.

    “To date, Funan has achieved about 92 per cent in commitment for its retail leasing and we expect more leases to be signed in the coming months,” said Tony Tan, CEO of CapitaLand Mall Trust Management Limited.

    “The robust demand for Funan’s retail space comes on the back of a strong pre-leasing commitment of 98 per cent for its twin office blocks. With a clear focus on offering differentiated experiences and connections that are not replicable online, Funan aims to anchor and grow its own community of followers who will keep returning. This innovative approach in curating a mall will augur well in creating sustained value for our unitholders over the long term,” said Tan.

    New-to-market brands

    Tech company Dyson will unveil its first standalone store in Singapore at Funan. The beauty-only concept store will be dedicated to its Dyson Supersonic hair dryer and recently-launched Dyson Airwrap styler.

    British folding-bikes maker Brompton Junction will open its first Southeast Asian flagship store, and launch a Lion City special edition bike.

    Golden Village’s seven-screen multiplex in Funan will feature two new seating concepts – Deluxe Plus and Gold Class Express – along with virtual reality pods in its foyer, showcasing popular games and cinematic content for customers.

    FairPrice Finest will introduce a digital shopping experience at Funan, allowing customers to shop and pay through their phones.

    Kopitiam will launch its latest concept KopItech, where patrons can place their orders via one of 17 self-service kiosks or through Facebook’s messaging app.

    Singapore’s True Group will open a flagship TFX fitness centre in Funan, True’s first fitness centre in Singapore with a swimming pool and outdoor deck.

    Other retailers will make their return to Funan, including tech retailer AddOn Systems which will operate Singapore’s Lenovo Flagship Store, and GamePro Shop, which will organise esports tournaments.

    Courts is opening its first uniquely IoT store, featuring simulated smart home concepts where consumers can visualise their dream home fully connected.

    Local eateries Ya Kun Kaya Toast, Qi Ji and Old Chang Kee will also return, with Qi Ji marking its 16th outlet islandwide since its first stall in Funan Centre back in the 1990s.

    Local labels

    More than half of Funan’s tenants are homegrown brands, both established and emerging.  These include artisan jeweller Carrie K’s first standalone boutique and fashion label Love, Bonito’s largest outlet in Singapore. Footwear brand Another Sole will also launch its first menswear collection there.

    Native online brands opening their first brick-and-mortar outlets include fashion retailer All Would Envy and creative confectionery brand Nasty Cookie.

    Specialty coffee roaster Papa Palheta, the group behind Chye Seng Huat Hardware, will be launching Singapore’s first employee-owned cafe, PPP Coffee and Sinpopo will open its first coffee concept in Funan. Designer store Grafunkt will include an in-store bistro.

    At an urban farm on Level 7 operated by Edible Garden City, farmers will work with chefs to curate, grow and harvest pesticide-free produce, supplying the produce straight to restaurants in the building.

    Located in the heart of Singapore’s Civic District, the mall will host more than 180 brands under six themes: tech, craft, play, fit, chic and taste. One in three of the stores will be new-to-market brands, new concept stores or flagships.

    “Shaped by its unique location in a new-gen live-work-play hub, Funan brings together experiential and activity-based retail at a scale not seen before in Singapore’s Civic District, while providing a collaborative platform for retailers to share their brand stories,” said Chris Chong, MD, retail, at CapitaLand Singapore.

    “With a dedicated community manager, Funan goes beyond a singular focus on achieving a certain retail mix to curate community experiences that consumers are passionate about, as it seeks to build social connections and networks beyond the transactional.”

    Experiential and activity-based retail takes centrestage at Funan – Climb Central will operate the highest climbing facility in the Civic District, extending from the base of the Tree of Life at Basement 2 to Level 1.

    “To date, Funan has achieved about 92 per cent in commitment for its retail leasing and we expect more leases to be signed in the coming months,” said Tony Tan, CEO of CapitaLand Mall Trust Management Limited.

    “The robust demand for Funan’s retail space comes on the back of a strong pre-leasing commitment of 98 per cent for its twin office blocks. With a clear focus on offering differentiated experiences and connections that are not replicable online, Funan aims to anchor and grow its own community of followers who will keep returning. This innovative approach in curating a mall will augur well in creating sustained value for our unitholders over the long term,” said Tan.

  • Raffles City Hangzhou conferred World Gold Winner of Retail Category at 2019 FIABCI World Prix d’Excellence Awards

    Raffles City Hangzhou conferred World Gold Winner of Retail Category at 2019 FIABCI World Prix d’Excellence Awards

    Raffles City Hangzhou, CapitaLand’s largest operational Raffles City development, has been named the World Gold Winner in the Retail Category at the prestigious 2019 FIABCI World Prix d’Excellence Awards held in Moscow, Russia on 30 May 2019. This follows the footsteps of ION Orchard in Singapore and Raffles City Chengdu in China, which won in the same Retail Category in 2013 and 2015 respectively. Raffles City Hangzhou is the only commercial development from China feted at this year’s Awards.

    The annual FIABCI Awards, dubbed the Oscars of real estate, recognise projects that exemplify excellence in all the disciplines of real estate, such as best practices in sustainability and positive contributions made to the community. It is considered one of the most reliable indicators of a development’s worth and its impact on the future of commercial real estate. Mr Lucas Loh, President & CEO of China, CapitaLand Group, said: “We are honoured that Raffles City Hangzhou has received the highest accolade in the Retail Category at the 2019 FIABCI World Prix d’Excellence Awards, which celebrates the crème de la crème of real estate projects around the globe. This is the second Raffles City development in China after Raffles City Chengdu to clinch the prestigious award, underscoring the high and consistent quality of our signature Raffles City portfolio.”

    “CapitaLand is continually pushing the boundaries of urban development with smart, sustainable and human-centric designs that add value to the communities it operates in. With Raffles City Hangzhou, we set out to create a landmark development in the new city centre that will serve as the heart of civic and commercial activities. We are heartened that Raffles
    City Hangzhou has not only achieved commercial success since its opening, it has received recognition from global industry experts. As CapitaLand marks 25 years in China this year, we remain firmly committed to meeting the changing needs and aspirations of Chinese consumers as the country enters new stages of urbanisation and urban renewal.”

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  • Aeon to invest US$119 million on new Malaysian Malls

    Aeon to invest US$119 million on new Malaysian Malls

    Aeon Malaysia will spend around RM500 million (US$119.2 million) this financial year on mall renovations and new openings.

    The figure is less than the Japanese retailer’s spend last year and reflects a more focused approach on portfolio consolidation and refurbishments.

    The retailer currently operates 28 Aeon malls and 34 outlets. It is intending to open its next mall in Nilai, Negeri Sembilan this year, as well as renovating its Aeon Taman Maluri mall in KL. It will also invest in upgrades to selected Daiso and Wellness pharmacy stores.

    Aeon Malaysia’s net profit rose to RM32.64 million (US$7.8 million) in the first quarter to March 31, up from RM27.94 million in the same period last year, mainly driven by higher retail revenue and margin.

    Aeon MD Shinobu Washizawa admitted that the firm’s tighter focus serves reflects an expected weak performance this year as consumer activity remains subdued. The company has also been absorbing new costs related to the implementation of sales and services tax last year.

    “It will be a challenging year. But we are working on controlling our costs and increase operational efficiencies,” he said.

  • Centara kicks off 36th anniversary with epic 36-dayglobal celebration

    Centara kicks off 36th anniversary with epic 36-dayglobal celebration

     Centara Hotels & Resorts, Thailand’s leading hotel operator, is marking its 36th anniversary milestone with a 36-day worldwide customer-focused celebration tied to the company’s 1983 founding. On this occasion, it also marks the 36th anniversary of Centara Grand at Central Plaza Ladprao Bangkok, the first hotel of the group, together with the 10th anniversary of Centara Grand and Bangkok Convention Centre at CentralWorld and Centara Grand Mirage Beach Resort Pattaya.

    Thirty-six years ago, Thailand’s first shopping centre mega-mall development, Central Plaza, rose from a suburban construction site on Bangkok’s Ladprao Road, complete with a brand new 5-star hotel that launched the Central Group’s hotel business with one of the Group’s largest investment commitments.

    From its first hotel in Ladprao, Centara has grown and prospered. Today, 70 Centara properties with six distinctive brands are operational or under development across 12 countries, and the company is well on its way to doubling its global portfolio by 2022.

    Centara will kick off the 36th anniversary celebration by rolling out a series of enticing offers, attractive promotions and lucky draws on 3rd June 2019, all featuring a special “36” theme. Guests should look out for the following limited-time deals:

    Every Third Night For Just THB 36 – For 36 days (3rd June to 9th July 2019), travellers will be able to stay with Centara for just THB 36. Under this amazing offer, guests who book a minimum three-night stay at any Centara hotel or resort worldwide – including five-star Centara Grand resorts in Thailand and the Maldives – will be able to pay just THB 36 for their third night.

    Lucky Stay E-Voucher – For seven days from 14th to 20th June 2019, guests will be able to book rooms at selected Centara hotels for one set price (only THB 3,600 per night) and enjoy sublime stays with a higher value. This generous offer is valid for room nights worth more than THB 4,500 and available for stays taken up until 31st October 2019.

    Cash Bonus Spending Credit: THB 3,600 for More! – The 36th anniversary celebrations will make your Centara stays even more rewarding this summer. Guests who purchase a stored value credit of THB 3,600 between 21st and 27th June will see its value instantly boosted to THB 5,500. Use the credit to pay for spa treatments, hotel dining and much more.

    LINE Coupons: Exclusive Deals for THB 36 and THB 360 – Sip, snack or feast for less with a series of tantalising weekly coupons. For 36 days (3rd June to 9thJuly), Centara will reveal a series of fantastic F&B deals on LINE, the social media app. Grab a coffee, bakery and other snacks for as little as THB 36, or a relaxing 40-minute massage at spa Cenvaree for just THB 360.

    10 Year Travel in Style Challenge: Photo Competition – Compete in the 10 Year Travel in Style Challenge with Centara, or the 36 Year Challenge if you dare. Guests who post their “now and then” throwback travel photos and use hashtag #36CentaraThrowback could win one of 36 prizes, including one grand prize — a sensational five-night holiday at Centara Ras Fushi Resort & Spa Maldives, including transfers.

    Exclusive Privilege for Centara The1 – Our Photo Challenge is twice as enticing for members of Centara The1. All Centara The1 member prize winners will also receive 3,600 Centara The1 points, on top of their main prize. To help our winners make the most of their points, Centara will be offering free night redemptions for just 6,363 points at select hotels for a limited time.

    And that’s not all. Guests who stay with Centara during the 36-day anniversary period will be offered the chance to enter a Check-In Lucky Draw. Guests can win on-the-spot prizes including spa treatments, bottles of wine, celebratory cakes, special discounts and more.

    Since it first entered the hospitality industry 36 years ago, Centara has developed a strong reputation for blending gracious Thai-style hospitality with world-class accommodation and exceptional amenities. Now, with an expanded collection of innovative brands, Centara is aiming to write the next exciting chapter in our history, with the goal of doubling our global portfolio by 2022.

    For more information about Centara Hotels & Resorts, please visit https://36.centarahotels.com

  • Link’s Temple Mall installs ‘Green-Screen Studio’

    Link’s Temple Mall installs ‘Green-Screen Studio’

    Temple Mall has installed a green-screen studio letting shoppers recreate scenes from famous romance movies.

    Link’s Temple Mall has installed an in-mall green-screen studio as part of its “Love at First Scene” campaign.

    The installation features 15 romantic scenes for shoppers to choose from along with a costume borrowing service and onsite postcards, allowing customers to play the lead roles in the famous love scenes and recreate silver-screen magic.

    The experience is capped off with a snapshot at the Romantic Moments photo zone, offering an occasion for customers to have their love stories memorialized in photos. The mall also provides a three-metre-tall selfie wall and six other Insta-worthy spots for customers to confess their love in their own creative way.

    Customers who spend a designated amount under the terms of the promotion may borrow costumes to re-enact the scenes. Whether striking a pose in the “I’m flying” scene on the ship’s bow, pledging their eternal love in an Imperial Palace in China, or participating in the moon-landing scene especially for families, their performances will be captured and printed onto postcards alongside famous quotes.

    Meanwhile, lovers can take romantic snapshots in front of a 21sqm neon selfie wall with a colossal neon heart at the center. There are six selfie walls in different corners of the mall, with pose and shooting angle suggestions for the best images.

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  • Another Bangkok riverside mall in Development

    Another Bangkok riverside mall in Development

    Another Bangkok riverside mall is in the early stages of planning after the Port Authority of Thailand (PAT) said it will develop Klong Toey land it no longer needs.

    The land is located at the Klong Toey port, not far from Bangkok’s CBD where the authority currently has about 900 rai 1.44 million sqm. PAT says it plans to use only about half that area in the future and will hand the balance over to a developer to create a landmark on the Chao Phraya River.

    The 400 rai which has become available will house retail space, a business centre and other commercial space, according to PAT director-general Kamolsak Promprayoon.

    “It will be something like IconSiam,” he said. “The format will basically be a large business city with the goal of becoming a new landmark and tourism centre in the capital that offers convenient links to river-based tourism.”

    A private company has been appointed to conduct a feasibility study on the plan.

    Meanwhile, the Thai government is preparing to progressively evict about 12,500 families who are illegally occupying a nearby area, commonly referred to as the Klong Toey Slum. According to the Bangkok Post, the government has allocated four 25-storey apartment buildings to house the people in 6144 apartments, measuring just 33sqm each.

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  • Parkson Retail to open store above Chinese railway station

    Parkson Retail to open store above Chinese railway station

    Parkson Retail Group is preparing to occupy a complex above Nanjing Railway Station in Chinese Jiangxi.

    The group, a Hong Kong-listed firm controlled by Malaysian Parkson Holdings Bhd, won its US$6.1 million bid for the tenancy of buildings above the Bayi Guan Station of the Nanchang Rail Transit Line 1 in the city.

    The 12-year tenancy will allow a 42,903sqm retail space for the firm, although no formal agreement on the tenancy has been signed as of yet.

    A statement from the firm read: “The tenancy, if materialised, may constitute a discloseable transaction for PRGL,” given its alignment with the firm’s development strategy for the province.

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  • The Loft heads to China with new store Opening

    The Loft heads to China with new store Opening

    Japanese household goods store The Loft is preparing to open a new store in China’s Chengdu with local superstore business Chengdu Ito-Yokado.

    The Loft holds a 90 percent stake in the new joint venture, which has registered capital of RMB45 million (US$6.54 million).

    Chengdu Ito-Yokado is a subsidiary of fellow Japanese general merchandise retailer Ito-Yokado, which has 14 stores in Chengdu and Beijing. The Loft entered discussions with the company to form a partnership while it was evaluating opportunities for a long-term corporate strategy in Mainland China. The new joint venture now paves the way for The Loft to prepare to open its directly managed stores in Chengdu and elsewhere in China.

    The Loft, which specializes in display and layout arrangements for household accessories, cosmetics, and stationery, is one of Japan’s largest retailers of household goods with more than 100 stores in Japan. It also has a presence in Thailand. As many Chinese tourists have been visiting Loft stores, particularly Shibuya Loft in the Tokyo metropolitan area, the firm believes its stores in China will be able to attract new local customers.

    The new store is expected to launch in spring next year.

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