CapitaLand Mall Asia recently signed its debut third-party contract for mall management in Singapore. This brings the number of malls under the wings to twenty.
This contract between the company and Singapore Post means that CapitaLand will immediately take over the administration of the mall coming up at the new Centre near the MRT Station in Paya Lebar. The mall should be up and running any time from June this year.
Yesterday, SingPost gave out a statement reiterating that having Capitaland as their retail manager will go a long way in helping his organization to get the most out of the property, while concentrating more attention on their main business, which mainly deals with services related to postal provision as well as logistics for the e-commerce sector.
In this particular property management deal, CapitaLand is expected to take over the responsibility of taking care of any operations covering the period before the opening of the mall. This will encompass all its marketing strategies, promotion and leasing, together with the management of all facilities within the mall.
The imposing mall located in the much sought after Centre – a stone’s throw away from MRT Station, occupies an entire five floors space with a total letting area of approximately 175,000 square feet.
The latest deal that was just sealed happens to be CapitaLand’s third contract when it comes to mall management, following hot on the heels of two other contracts already being managed in mainland China. It is largely believed that the new Mall will reassert the company’s eastern Singapore’s presence, owning as well as managing two other malls – Bedok Mall and Tampines Mall. There is no doubt that, with a third mall under its wings, CapitaLand will be able to re-establish itself as an important player in the highly competitive mall management business in Eastern Singapore.
Besides, the company is also a major partner in a venture set for the Jewel Changi Airport development that is scheduled to begin its operations in early 2019.
The Centre is set to be the proud home to the brand new General Post office as well as the Philatelic Store. Some of the notable tenants of the magnificent new mall will include Golden village Cinemas, an NTUC FairPrice Supermarket as well as a Kopitiam food court, among many other prominent business brands in Singapore. This goes a long way to reaffirm how much in demand the new facility has already become.
Other than their offering of e-commerce logistics services, SingPost has confirmed that there will provide a heritage corner, which will allow customers to have a peek at the rich history of the giant postal service organization. This is definitely going to be a very interesting venture, as the young generation and many other clients will have a great opportunity to not only understand the checkered 150 years-old history of the postal services firm, but this will also make the customers appreciate the huge strides made in the evolution of postal services in the country.
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