Source : Channel NewsAsia - 1 Sep 2008
A sprawling 700,000 square foot mall will open in Little India by the end of next year. City Square Mall’s launch will coincide with that of other major retail shopping centres along Orchard Road like 313@Somerset.
However, its developers remain confident that the new malls will not pose a threat. Going by the numbers, it seems retailers agree. They have already committed to about 70 per cent of City Square’s tenancy.
At about half the size of VivoCity, the mall is located two streets away from the popular Mustafa Centre.
While some worry about how it will stand up against competition from the mainstream shopping belts, its developer City Developments is confident of its niche appeal.
Corrine Yap, deputy general manager, City Developments, said: “Our mall is at the fringe and we position ourselves like a suburban mall even though it’s at the city fringe. There will be a regular pool of customers coming to the mall because we are providing convenient shopping.”
City Developments has signed nine anchor tenants, taking up about half of the mall’s lettable area.
Set in the middle of a park, City Square also incorporates green features into its design. For example, it has an eco-friendly roof that harnesses solar power and rain water. It also comes with restrooms that save water and electricity.
City Developments is positive on the outlook for the retail industry going forward and is looking to open more malls.
Chia Ngiang Hong, group general manager, City Developments, said: “It’s quite site specific in the sense we need to look for right place for the mall. If opportunities arise, we will be looking actively.”
However, for now, its focus will be on its upcoming South Beach project.
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