Building on its 31-year legacy as the definitive IT mall in Singapore, the redevelopment of Funan, which is due to be completed in end-2019, initiates a stronger shift in focus towards being a lifestyle destination that fully incorporates within it a new paradigm of live, work and play.
The retail, dining and lifestyle podium spans across six storeys and will be the first in Singapore to feature cycling lanes through the mall. Occupying more than half the integrated development’s GFA at 500,000 sq ft, the podium is poised to embrace the experiential factor. The developer CapitaLand Mall Trust plans to drive retail innovation by acting as a nurturing ground for up-and-coming retailers and it will include incubator and showroom spaces as part of the mall’s “Passion Clusters” to allow shoppers to immerse fully within their interests.
As Funan’s design centrepiece, the multi-level “Tree of Life” that extends from Basement 2 to Level 4 will incorporate open pods that welcome local designers and artists to produce and promote their craft.
Above the podium sits three towers, including two six-storey premium Grade A office towers (GFA 266,000 sq ft) that will consist of both smart office space and innovative studio components in the Northern and Southern tower, respectively. The third tower will feature a nine-storey block that will house 279 co-living apartments with GFA of 121,000 sq ft.
Funan’s design concept will also spearhead the first-of-its-kind open studios platform made for creative collaboration. A mobile-first digital smart system will overlay the physical building with smart building technology to improve productivity, energy efficiency and the overall security of the building.
With its permeable streetscape and flexible spaces, Funan aims to be a one-stop creative hub for the tech and socially-savvy where they can unwind and connect with like-minded people
Photo credit: Funan IT Mall, CapitaLand
Article by Sibyl Teo, Research Analyst, Singapore
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JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. JLL is a Fortune 500 company with, as of December 31, 2015, revenue of $6.0 billion and fee revenue of $5.2 billion, more than 280 corporate offices, operations in over 80 countries and a global workforce of more than 70,000. On behalf of its clients, the company provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. As of September 30, 2016, its investment management business, LaSalle Investment Management, has $59.7 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
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