Funan mall in Singapore has announced its latest tenancy make up at a press briefing with a 380-seat local theatre company W!ld Rice and supermarket chain FairPrice Finest.
The mall, owned by CapitaLand Mall Trust, has already secured 25 per cent tenancy rate though it is due to open late 2019. Funan is best known for being an IT hub and will maintain that close identity by having an entire floor dedicated to IT products and technology. According to Wilson Tan, CEO of CapitaLand Mall Trust Management, familiar retail stores will still take up tenancy at the new Funan Mall, such as Newstead Technologies and AddOns Systems.
The project is estimated to cost SGD560 million, which will include two office towers and serviced apartments. The retail portion of the mixed-use development will have roughly 200 stores over six storeys.
“This is an opportunity for Funan to rewrite the parameters,” said Tan at the media preview, “to redefine how a mall of the future will be. Every time we look at an existing mall, we can only change small parts of it. The easy way out would be to create a ‘cookie-cutter’ mall, but we want to be a differentiated mall.”
Tan said that the mall will focus on experiential retail, allowing the space to be a testing field for new products and technologies. Funan will also have a futsal court on the rooftop.
Kevin Siew, vice president of retail development, Funan, said that the new and improved mall hopes to woo back its former IT tenants, however, without the pretence that it would be “business as usual.”
“This is an opportunity for CapitaLand to challenge conventional definitions of shopping centres,” said Siew.
Other anchor tenants include Golden Village cinema and food court chain Kopitiam.
Check out Funan’s virtual tours: