Tag: Tampines Mall

  • KFC Singapore debuts open-kitchen restaurant at Tampines Mall

    KFC Singapore debuts open-kitchen restaurant at Tampines Mall

    KFC Singapore has launched its first Southeast Asian open-kitchen restaurant at Tampines Mall, revealing how its chicken is prepared.

    The fast-food giant’s Open Kitchen program, also called ‘The Tank’, has already been rolled out in the UK, Ireland, Australia and Japan.

    “With the rollout of the ‘The Tank’ at KFC Tampines Mall and the KFC Open Kitchen program, I hope to proudly share KFC’s heritage and Colonel Sanders’ obsessive passion in cooking the best-tasting chicken,” said Lynette Lee, KFC Singapore GM.

    The chain also plans to host guests on ‘insider tours’ where visitors can watch staff perform Colonel Harlan Sanders’ “7-10-7” technique.

    Beginning today, guided 35-minute tour sessions of KFC kitchens at selected outlets, including Kallang, Waterway Point, Toa Payoh Lorong 6, Jurong Point and Northpoint City, will be available for booking online through KFC Singapore’s website.

    Tours cost $15, including a two-piece KFC chicken meal and a goodie bag. Visitors will get to see the kitchen’s storage area, the chicken breading and preparation stations, and the service counter area.

  • Calm water for Singapore’s CapitaLand Mall Trust quarter

    Calm water for Singapore’s CapitaLand Mall Trust quarter

    CapitaLand Mall Trust Management (CMTML), the manager of CapitaLand Mall Trust (CMT), says CMT has achieved a distributable income of S$103.5 million (US$75 million) for the quarter to September 30. That marks an increase of 4.9 per cent over the $98.7 million for the same period last year.

    Year to date, distributable income was $302.5 million, an increase of 3.3 per cent.

    CMTML CEO Tony Tan says the portfolio continued to deliver stable returns during the quarter, despite uncertain market conditions. Occupancy was 98.5 per cent, “well above the market occupancy level of 92.7 per cent”, he said.

    Asset enhancement initiatives to uplift the customer experience at Tampines Mall and Westgate are on track to complete in the fourth quarter of this year.

    During the third quarter, CMT’s gross revenue and net property income rose by 0.7 per cent and 1.1 per cent respectively year-on-year. Gross revenue was higher from Junction 8, IMM Building, Plaza Singapura, Bedok Mall and Tampines Mall, partially offset by lower gross revenue from Sembawang Shopping Centre, which was sold in June, and lower occupancy and rental rates contracted on new and renewed leases from JCube and Bukit Panjang Plaza.

  • 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.

  • CapitaLand to manage SingPost Centre

    CapitaLand to manage SingPost Centre

    CapitaLand, through its wholly owned shopping-mall business CapitaLand Mall Asia, has signed its first third-party shopping centre-management contract in Singapore to run the new SingPost Centre.

    Described as a world-first, Singapore Post is currently building the 25,000 sqm shopping centre which will allow online and offline retailers to showcase their products, side by side.

    The SingPost mall marks the third management contract CapitaLand has inked in about six months, the other two being in China.

    With this contract, CapitaLand’s network in Singapore will increase to 20 malls with a combined gross floor area (GFA), excluding parking, of about 14.2 million sqft (1.3 million sqm).

    CapitaLand Mall Asia CEO Jason Leow says the signing of its first third-party mall management contract in Singapore – also its third across Asia in quick succession – shows the scalability of the group’s asset-light expansion strategy to grow assets under management.

    SingPost Centre is in the eastern part of Singapore, where CapitaLand owns and manages three malls – Tampines Mall in Tampines Regional Centre, Bedok Mall in the rejuvenated Bedok Town Centre and Jewel Changi Airport, scheduled to open in early 2019.

    Five-storey mall

    Under the contract, CapitaLand will oversee the pre-opening and retail management for the five-storey SingPost Centre mall, which has 269,000 sqft of GFA, excluding parking, and a net lettable area of about 175,000 sqft.

    “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 business of postal services and e-commerce logistics,” says SingPost covering group CEO Mervyn Lim.
    Targeted to open 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.

    Other tenants at SingPost Centre include Golden Village, Kopitiam, NTUC FairPrice, retail brands, family entertainment outlets and enrichment centres.

  • Christmas is over, but not the shopping

    Christmas is over, but not the shopping

    The shopping frenzy continues after Christmas as Orchard Road and neighbourhood malls lay on the post-Christmas sales to reel in the crowds.

    Mall tunes have been switched as well, as many people head out to shop for the Chinese New Year, on Jan 28 next year, or to stock up for the new school year.

    Ms Donna Tan, 33 , an administrative executive who was at the Nex shopping mall in Serangoon, said she was taking advantage of the current sales to get both Chinese New Year clothes and school shoes for her daughters, aged 10 and 14.

    She said: “There isn’t much time left for Chinese New Year shopping actually. The sales are also good now, so we took today and yesterday off to shop.”

    In total, she spent about $300 at Nex, Changi City Point and Tampines Mall over the past two days.

    Student Salwa Mayra, 19, waited for the post-Christmas sales to score better deals.

    Ms Salwa, who went shopping in Orchard Road and at Nex, said she bought clothes at Zara at half the usual price. Others, such as Ms Miki Chua, 40, a teacher, also decided to wait until after Christmas to beat the crowds.

    “I looked around during the Christmas period but it was too crowded, so I decided to come back now,” said Ms Chua, who had bags from Forever 21 and Etude House.

    Stores such as H&M and Robinsons continued to offer discounts of up to 70 per cent.

    Several malls and department stores reported healthy post-Christmas crowds and sales.

    A Tangs spokesman said the sales figures for Monday, the day after Christmas, were “quite encouraging”, without giving details. The sale at Tangs goes on till Jan 2.

    A spokesman for the orchardgateway shopping mall also said that the crowds on Monday were on the “positive side”.

    Takashimaya Singapore said that while there was just a 5 per cent increase in crowd figures on Boxing Day this year compared with last year, Takashimaya Department Store achieved a “double-digit increase in sales” over last year’s figures.

    Ms Stephanie Ho, general manager at Frasers Centrepoint Malls, said overall traffic at the company’s malls, which include Causeway Point and Waterway Point, was boosted by up to 20 per cent.

    “This may be attributed to promotions, including post-Christmas and back-to-school sales, over the long festive weekend,” she said.

    Despite healthy crowds, a survey conducted by e-commerce solutions company SAP Hybris that was released earlier this month found that only 39 per cent of shoppers still enjoy browsing in purely brick- and-mortar stores.

    More popular were stores with both a physical and digital presence, which 68 per cent of those surveyed cited as their top shopping option. Consumers were also less interested in more new-age services such as mobile payments through a digital wallet.

    Singapore Polytechnic senior retail lecturer Sarah Lim said that while an increase in transactions or crowds may not translate into an increase in sales due to marked- down prices, clearing stock is also important.

    “They have to make room for new stock, especially because Chinese New Year is coming soon. Also, crowds have the tendency to attract more crowds, who may end up buying,” she said.

  • CapitaLand Mall Trust overcomes ‘soft’ retail market

    CapitaLand Mall Trust overcomes ‘soft’ retail market

    CapitaLand Mall Trust (CMT) has overcome what it describes as a “soft” Singapore retail market to increase its profit and distribution.

    A 3.7 per cent increase in distributable income to S$193.9 million (US$143 million) for the first half-year coincides with a second quarter distributable income of S$97.1 million, a 3.3 per cent increase over the $94 million for the same period last year.

    “Despite a soft retail market, CMT continued to produce steady operational results in the first half,” says CMTML CEO Wilson Tan. “Backed by our portfolio of well-located shopping malls and extensive network of retailers, CMT had year-on-year increases of 3.6 and 2.3 per cent in shopper traffic and tenants’ sales per square foot respectively.

    “As at June 30, portfolio occupancy remained high at 97.9 per cent.”

    CMT’s Funan DigitaLife Mall, which closed from July 1, will undergo a three year redevelopment to become a lifestyle destination in the revitalised Civic and Cultural District, says Tan. Scheduled to be ready in the fourth quarter of 2019, the integrated development will include retail, office and serviced residences. The mall redevelopment is expected to achieve a return on investment of 6.5 per cent.

    For the second quarter, CMT registered higher gross revenue and net property income (NPI) of 7.1 and 6 per cent respectively year-on-year, mainly through a contribution of $14.5 million to gross revenue from Bedok Mall, acquired on October 1, and higher rental revenue from IMM Building, Tampines Mall and Bukit Panjang Plaza after asset enhancement.

    This was partially offset by the divestment of Rivervale Mall in December and lower gross revenue from Funan DigitaLife Mall.

  • 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.