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CapitaLand Mall Trust (CMT) on Wednesday (7 September) unveiled the new Funan mall which will feature a new “live-work-play paradigm” when it is completed in the fourth quarter of 2019.
At the groundbreaking ceremony held today, CMT said the integrated development – simply called Funan – will house a mall that will go beyond selling IT products to “incorporating the tech experience throughout the entire integrated development.”
In fact, its retail component will offer online-to-offline (O2O) retail services, which include drive-through click-and-collect and hands-free shopping service—the first in Singapore’s central business district. The feature will allow shoppers choose to collect their purchases at Funan’s concierge when they are done, or have their shopping bags delivered right to their homes.
“We are entering an exciting phase of real estate development driven by technology breakthroughs that are altering the fabric of our lives, and the coming-of-age of a whole generation of consumers who grew up with the internet. Funan is our response to these trends,” said CapitaLand President and Group CEO Lim Ming Yan.
Furthermore, in line with the country’s move towards a car-lite society and to promote healthy living, the development will also offer cycling enthusiasts with full amenities and end-of-trip facilities, such as bike shops, bike cafés, lockers and shower facilities. It will also feature a 50-lane indoor climbing facility, and other sports facilities like futsal courts, basketball courts, and a 25-metre swimming pool.
The new development will have a total gross floor area (GFA) of 887,000 sq ft. The retail component will occupy over 50 percent of the GFA at 500,000 sq spread across six storeys – four levels above ground and two basement levels. The new mall’s future tenants include cinema-operator Golden Village, Kopitiam and Climb Central.
Above the retail podium will be two six-storey, premium Grade A office towers with a GFA of 266,000 sq ft. and a nine-storey apartment block which will house 279 co-living units with a total GFA of 121,000 sq ft.
Image: Artist’s impression of Funan mall. (Source: CapitaLand)
Nikki De Guzman, Editor at CommercialGuru wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg