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Since its soft opening on 6 September, the mall has regularly made tenant sales of 11-12 million yuan (S$2.12 million to S$2.3 million) every weekend and sees 350,000 to 400,000 visitors each weekend.
CapitaLand has officially launched Raffles City Chongqing, bringing its Raffles City developments total to nine, reported The Business Times.
Raffles City Chongqing is Singapore’s biggest single development in China, with it occupying 1.12 million sq m (12.05 million sq ft) and costing 24 billion yuan (S$4.65 billion) in total investment.
The integrated development features a 235,000 sq m (2,529,518 sq ft) retail podium, 1,400 high-end residential apartments and 150,000 sq m (1,614,586 sq ft) of Grade A office space.
It also houses the 380 room InterContinental Raffles City Chongqing hotel and 201 unit Ascott Raffles City Chongqing serviced residence.
Since its soft opening on 6 September, the mall has regularly made tenant sales of 11-12 million yuan (S$2.12 million to S$2.3 million) every weekend and sees 350,000 to 400,000 visitors each weekend.
Lucas Loh, CapitaLand group president for China, expects that once the mall has stabilised, 300,000 people will visit on weekends and 100,000 to 150,000 people will visit on weekdays.
“So far, the performance has been good. Within a short one month, (it) has become a must-be place for both the Chongqing people and tourists. Its location in Chaotianmen, a historic site where the Yangtze and Jialing rivers meet, lends good support from tourists for the mall,” he said.
Loh also revealed three of the five residential towers are up for sale, with 650 of the 1,400 residential units being sold so far. Launched for sale two years ago, the units have areas ranging from 30,000 yuan per square metre (psm) to 45,000 yuan psm.
In fact, a 216-unit tower is scheduled to be turned over to residents in the second half of October, while office towers are targeted to be open in the fourth quarter of this year.
Additionally, 95 percent of the mall’s retail component has already been leased out.
The Raffles City Chongqing integrated development will also feature The Crystal – a sky bridge hanging above four 250 m tall buildings offering a members-only clubhouse, a viewing gallery for the public, as well as bars and restaurants. It is set to launch in the first half of 2020.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg
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