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Tag: Bugis+

  • WeChat Pay embarks on first mall partnership in Singapore

    WeChat Pay embarks on first mall partnership in Singapore

    Mobile payment platform WeChat Pay has announced its first mall partner in Singapore.

    WeChat Pay is rolling out cashless payment services across retail and F&B outlets in the popular Bugis Junction and Bugis+ malls, centrally located in Singapore’s Civic and Cultural District.

    GM Ivy Ang said the malls are particularly popular with young Chinese tourists. “Together with WeChat Pay, we will offer exclusive campaigns tailored for young Chinese travellers in Singapore. As we head into the Golden Week holidays and end-of-year festivities, we will continue to offer customised promotions and targeted campaigns to WeChat users through its many communication platforms and marketing channels, so our shoppers enjoy a rewarding shopping experience,” she said.

    “In this digital age, where we see more and more shoppers going cashless. Partnering with WeChat Pay is thus a very relevant initiative,” she added.

    Grace Yin, WeChat Pay’s director of overseas operation added: “The Bugis arts, culture, and entertainment district is especially popular with young Chinese tourists, which makes Bugis Junction and Bugis+ ideal to mark WeChat Pay’s first mall partnership in Singapore.”

    With the launch, Bugis Junction and Bugis+ will be the first malls in Singapore to accept WeChat Pay as a mobile payment platform across its wide range of commercial offerings. To celebrate the introduction of the new payment platform, the mall is hosting exclusive offers for shoppers to get rewarded with virtual money packets and receive cashback coupons.

    WeChat Pay is one of the leading mobile payment solutions in China. It is currently available in over 40 countries and regions across the world in 13 currencies and has more than 800 million monthly active users.

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  • CapitaLand Mall Trust remain stable despite challenges as retail sector stalls

    CapitaLand Mall Trust remain stable despite challenges as retail sector stalls

    Despite challenges in the retail sector, CapitaLand Mall Trust (CMT) maintained stability in its fourth quarter.

    “This points to the underlying strength of our well-located malls, and the management’s continuous focus on enhancing their offering as well as improving efficiency,” says CMT management company CMTML chairman Professor Richard Magnus.

    CMT achieved net property income (NPI) of S$119.3 million (US$90.6 million) for the period, to the end of December, up 2.6 per cent from the final quarter the previous year.

    With Singapore’s GDP growth expected to be stable this year, competition in the retail sector will remain intense, with new retail space coming onstream, says Magnus. “To stay at the forefront of a dynamic retail landscape, CMT will continue to push the boundaries and explore new ways to future-enable its malls.”

    CMT’s malls had an occupancy rate of 99.2 per cent at December 31, says CMTML CEO Tony Tan.

    “As part of our ongoing effort to enhance the offline and online shopping experience in our malls, we introduced seven click-and-collect lounges under CapitaLand’s partnership with e-commerce player Lazada. They are in Bedok Mall, Bugis+, IMM Building, JCube, Plaza Singapura, Tampines Mall and Westgate.”

    He says construction for Funan is progressing well. “With less than two years to target opening, Funan has received strong leasing interest for its retail and office components.”

    For its fourth quarter, CMT recorded growth of 1.8 and 2.6 per cent in gross revenue and NPI respectively year on year. The increase was mainly because of higher occupancy for Bugis Junction and The Atrium@Orchard, partially offset by lower gross revenue from Bedok Mall because of lower rental rates and reduced occupancy.

    For the full year, CMT recorded S$682.4 million in gross revenue, down 1.1 per cent. This was mainly because of the closure of Funan mall for redevelopment, lower rental rates and the lower occupancy at Bedok Mall. This was partially offset by higher rental from IMM Building, JCube and Clarke Quay.

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  • Asics Bugis Junction and VivoCity in Singapore

    Asics Bugis Junction and VivoCity in Singapore

    ASICS, a true sport performance brand, has opened 2 new stores in Singapore, increasing the number of ASICS stores to 7 locally to strategically cater to an increasingly more distributed retail need.

    Located in Bugis Junction Shopping Mall, a vibrant and popular mall in the central business district, and in VivoCity, the largest retail and lifestyle destination in Singapore, these new ASICS stores will front cutting-edge ASICS footwear and apparels for running and popular sports in the region, including badminton, netball, tennis, soccer and gym training. Products are displayed with the latest ASICS visual merchandising concept congruent with innovative trends, to inspire a premium and positive shopping experience for each customer.

    ASICS’ aspirational “Mix Up Your Run” concept inspires runners to run stronger, faster and further. To activate and strengthen different muscle groups for better performance, runners train under varied regimes. Runners “run long” to build endurance and conquer the longest distances, “run natural” to give the muscles a completely different workout, “run fast” to break the speed limit and attain new PB (personal best) and “run tough” to stimulate agility and improve balance.

    In line with the ASICS visual merchandising concept, finding the best footwear has now been simplified with colour coding; “RUNLONG” (in blue), “RUNNATURAL” (in magenta), “RUNFAST” (in orange) and “RUNTOUGH” (in green). Customers can easily select the right footwear by looking for footwear displayed with the relevant colour codes.

    Running enthusiasts will be spoilt for choice with the comprehensive range of footwear available in the store, including the much awaited GEL-KINSEI 6, GT-2000 4, GEL-KAYANO 22, GEL-NIMBUS 17 LITE-SHOW, and GEL-QUANTUM 360.

    ASICS Bugis Junction Store, Singapore

    ASICS Bugis Junction Store, Singapore

    ASICS Bugis Junction Store, Singapore

    ASICS Bugis Junction Store, Singapore

    ASICS VivoCity Store, Singapore

    ASICS VivoCity Store, Singapore

    ASICS VivoCity Store, Singapore

    ASICS VivoCity Store, Singapore

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  • CapitaLand Malls ‘resilient’ to tough times

    CapitaLand Malls ‘resilient’ to tough times

    CapitaLand Mall Trust says its portfolio of “necessity malls” has proven resilient to the challenging economic and retail period of the last year.

    CapitaLand Mall Trust Management (CMTML), the manager of CapitaLand Mall Trust (CMT), has reported a distributable income for 2015 of S$392.0 million, up 4.4 per cent on 2014.

    Danny Teoh, Chairman of CMTML, said CMT has delivered a good set of financial results in 2015.

    “Distribution per unit to unitholders for 2015 increased 3.8 per cent to 11.25 cents, underscoring the underlying strength of our portfolio – made up of predominantly necessity shopping malls connected to or near transportation hubs serving large catchment areas.”

    Teoh says the trust reinforced its leadership position as Singapore’s largest real estate investment trust with the acquisition of Bedok Mall on October 1.

    “In addition, we unlocked value for unitholders with the sale of Rivervale Mall on December 15, where we recognised a gain of about S$72.7 million. Going forward, CMT’s established track record in proactive mall and asset management will ensure that we remain well-positioned to continually create value for our unitholders.”

    Wilson Tan, CEO of CMTML, said tenants’ sales per square foot and shopper traffic increased by 5.3 per cent and 4.9 per cent respectively last year.

    “Portfolio occupancy remained high, registering 97.6 per cent at December 31.”

    Clarke Quay achieved more than 90 per cent committed occupancy for the reconfigured space in Block C. Anchored by Zouk, a world-class dance club, Block C also comprises popular food and beverage (F&B) and entertainment outlets such as DV8 Club, a top notch live Mandopop concert club; Warehouse, a restaurant and bar with live music; Privé Clarke Quay, a new bar concept by lifestyle group Privé Group; Maziga Café & Bollywood Club, an Indian restaurant helmed by the team behind the Punjab Grill; and the highly anticipated Ramen Keisuke Lobster King, the latest offshoot of the well-known ramen chain Ramen Keisuke.

    “Singapore’s largest outlet mall IMM Building further enhanced its shopping experience and increased its total number of outlet stores to 85 with new designer brands such as Outlet by Club 21, Juicy Couture and Cole Haan. It also boosted its F&B offerings with additions such as Dôme Café. We will continue to transform our malls through asset enhancement initiatives and reinforce our relevance to the communities that we operate in,” said Tan.

    CapitaLand Mall Trust owns 16 shopping malls, strategically located in the suburban areas and downtown core of Singapore, comprise Tampines Mall, Junction 8, Funan DigitaLife Mall, IMM Building, Plaza Singapura, Bugis Junction, Sembawang Shopping Centre, JCube, Raffles City Singapore (40.0% interest), Lot One Shoppers’ Mall, 90 out of 91 strata lots in Bukit Panjang Plaza, The Atrium@Orchard, Clarke Quay, Bugis+, Westgate (30 per cent interest) and Bedok Mall.

    CMT also owns 122.7 million units in CapitaLand Retail China Trust, the first China shopping mall REIT listed on SGX-ST in December 2006.

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