Another commercial success has hit Singapore with the Clementi Mall attracting a footfall of 49,000 in the first few weeks before the official opening of the mall.
(An artist's impression of The Clementi Mall. Agency photo.)
Students and nearby residents have been flocking in hoards to the new development in order to get a taste of the commercial enterprise on offer. The 191,000 sq ft retail spaces have all been leased, with 26% taken by food and beverage outfits. Currently 95% of the outlets are open, with the mall also accommodating 6 anchor tenants operating some of the larger units.
Coupled with the significant retail activity, the mall also has residential units occupying the 8th to 40th floor of the two-storey buildings. Approximately 300 3-4 room units have been developed for residents, with the temporary occupancy permits expected to arrive in the next few weeks. The development has effectively incorporated the transport elements into the structure as well, with the impending bus interchange being directly linked to the first floor of the mall along with a connection to Clementi MRT from the third storey.
Developers, CM Domain have also managed to encompass different community facilities into the building with the West Coast Town Council occupying the second level as well as the Public Library on the 5th. Looking to cover all their bases, CM Domain has nominally hit all the right buttons with this new mall. Although only operating the retail segment of the development, Tony Mallek the Chief Financial Officer and Domain Chairman is looking to according to The Straits Times “replicate the success of Parragon Shopping Centre”. If that success is by in large ideal for all stakeholders involved then the hopes will be for Clementi Mall to continue on this successful start.
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anonymous said...
good place for investment
May 24, 2011 4:42:00 PM
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