Thursday, April 28, 2011

High hopes for newly opened Bedok Point mall

Straits Times: Wed, Apr 27
A SHOPPING centre that was developed out of the old Bedok and Changi theatres was officially opened yesterday.

Bedok Point mall is the first such facility in the Bedok Town Centre, one of Singapore's oldest residential estates.

It is also the ninth in the portfolio of property giant Frasers Centrepoint Malls (FCM).

Some shops opened about four months ago but yesterday's ceremony signalled that the entire five-storey complex is open for business.

FCM said the mall's 80,985 sq ft of net lettable

area is 98 per cent occupied, with food and beverage tenants taking up almost 40 per cent of the space.

The surrounding neighbourhood has a captive shopper catchment of more than 294,000 residents, said FCM, and attracts over 900,000 shoppers a month.

The cafes and restaurants on the first level will open until 1am on weekdays and 3am on weekends.

FCM said rents are comparable to other malls in the area.

The chief executive of Frasers Centrepoint Commercial, Mr Christopher Tang, said Bedok Point tenants pay around $11 per sq ft (psf) a month.

Tenants at the company's other suburban malls such as Yew Tee Point pay around $12 psf.

CapitaLand announced last year that it will build a mixed-use mall near the Bedok Bus Interchange.

Mr Tang told the media yesterday: 'If you look at Bedok, it is relatively under-provided for (in terms of retail malls). So if you introduce another mall, it will just add to the vibrancy of the neighbourhood.'

FCM expects to open its Changi City Point mall at the end of the year.

It also has plans to complete a riverside mall called Punggol Point by 2014.


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