CapitaLand to Develop Mega Mall in Jurong

FF Fashion

Jun 2, 2011
CommercialGuru.com.sg


CapitaLand, Southeast Asia’s largest property developer, along with its subsidiary, CapitaMalls Asia (CMA) and CapitaMall Trust (CMT), will be developing a mega mall on a site at Jurong Gateway, which it acquired through a public tender.

The new project will feature a 25-storey retail-cum-office development, with a total development cost of approximately S$1.5 billion.

“This retail and office development combines the expertise and experience of CapitaMalls Asia, CapitaMall Trust and CapitaLand in developing and managing shopping malls and offices,” said Mr. Lim Beng Chee, Chief Executive of CapitaMalls Asia.

The planned mega development has a site area of around 195,465 sq ft and a maximum permissible gross floor area (GFA) of about 957,780 sq ft. The office component will be equivalent to at least 40 percent of the total GFA, with the remaining GFA to be used for retail purposes.

Subject to planning approvals, the prime office tower will be situated on top of the shopping mall. It is expected to span 20 storeys, from level six to level 25, with approximately 383,000 sq ft of GFA. Meanwhile, the shopping mall is expected to have five levels, including one basement level.

CapitaLand said the new retail and office site “will continue the transformation of the area into an attractive destination for business and leisure, serving more than 3,000 multinational and global businesses in the Jurong and Tuas areas.”

The shopping mall is expected to begin operations by Christmas 2013, while the office tower will open in 2014.