Funan mall 92% leased ahead of June 28 reopening

Funan mall will open its doors to shoppers two months ahead of schedule after a three-year redevelopment. The Funan integrated development comprises a shopping mall, two office blocks and lyf Funan Singapore - the Singapore flagship of The Ascott Lim
Funan mall will open its doors to shoppers two months ahead of schedule after a three-year redevelopment. The Funan integrated development comprises a shopping mall, two office blocks and lyf Funan Singapore - the Singapore flagship of The Ascott Limited's lyf co-living serviced residence - which is slated to open in the fourth quarter of this year.ST PHOTO: LIM YAOHUI

Funan has achieved 92 per cent in commitments for retail leasing to date as well as 98 per cent in pre-leasing commitments for its twin office blocks, a joint media statement by CapitaLand Mall Trust's (CMT) manager and CapitaLand said yesterday.

The mall will welcome shoppers again on June 28, two months ahead of schedule, after a three-year redevelopment.

CMT's manager expects more retail leases to be signed in the coming months, said Mr Tony Tan, chief executive officer of CapitaLand Mall Trust Management.

With a total gross floor area of 887,000 sq ft, the Funan integrated development comprises a shopping mall, two office blocks and lyf Funan Singapore - the Singapore flagship of The Ascott Limited's lyf co-living serviced residence - which is slated to open in the fourth quarter of this year.

Funan is located in the Civic District, with a direct underpass linking it to City Hall MRT station.

The mall will house more than 180 brands, of which one-third are new-to-market, new concept stores or flagships. These include consumer technology firm Dyson, with its first stand-alone store in Singapore, and British folding bike manufacturer Brompton Junction's South-east Asian flagship store.

Golden Village's seven-screen multiplex at Funan will feature two new seating concepts and virtual reality pods, while local theatre group Wild Rice will raise the curtains at its theatre and studio.

More than 30 per cent of the brands at Funan are new to CapitaLand's portfolio.

About two-thirds of the mall's brands also originate from Singapore, according to the media release. They include artisan jeweller Carrie K's first stand-alone boutique and fashion label Love Bonito's largest outlet in Singapore.

  • 180

  • Number of brands that Funan will house, of which one-third will be new-to-market, new concept stores or flagships.

All brands will be clustered around six themes: tech, craft, play, fit, chic and taste.

Funan will have a dedicated community manager to "curate community experiences that consumers are passionate about, as it seeks to build social connections and networks beyond the transactional", said Mr Chris Chong, managing director of retail at CapitaLand Singapore.

"Funan's opening will relaunch the mall as a social space where people spend their time experiencing, discovering and shopping," he said.

Yesterday, units of CapitaLand Mall Trust closed two cents higher at $2.43 and shares of CapitaLand closed one cent higher at $3.23.

A version of this article appeared in the print edition of The Straits Times on June 04, 2019, with the headline 'Funan mall 92% leased ahead of June 28 reopening'. Print Edition | Subscribe