H&M to open a new store in Croesus Retail Trust's Mallage Shobu mall in Japan

H&M will open a new store in Mallage Shobu in Japan.
H&M will open a new store in Mallage Shobu in Japan.PHOTO: REUTERS

SINGAPORE - The trustee-manager of Croesus Retail Trust (CRT) said on Thursday (June 1) that global fashion retailer H&M will open a new store in Mallage Shobu in Japan.

The H&M store will occupy about 1,500 sq m on the ground floor of the shopping mall as an anchor tenant. This will make H&M one of the top ten tenants at Mallage Shobu in terms of net lettable area when the store opens on Aug 31.

Mr Jim Chang, chief executive and executive director of the trustee-manager, said: "The introduction of this major fashion brand will serve to refresh the overall retail experience for shoppers and further boost Mallage Shobu's attractiveness as a key retail destination."

Opened in 2008, Mallage Shobu is the second largest mall within Saitama Prefecture, in the Greater Tokyo area north of central Tokyo. It comprises a large-scale shopping mall with 227 retail tenants across a net lettable area of about 68,074 sq m.

The mall's occupancy rate stood at 97.3 per cent as at March 31.

CRT completed a tenant renewal exercise at Mallage Shobu in June 2015, to enhance its appeal, in conjunction with an asset enhancement initiative to refurbish the mall's facilities.