Tag Archives: Funan DigitaLife Mall

Tech and sporting features headline Funan mall revamp

The upcoming Funan integrated development will include a Golden Village cinema, indoor climbing gym as well as a click-and-collect shopping experience, announced developers CapitaLand at the site’s groundbreaking on Wednesday (Sep 7).

The redeveloped Funan DigitaLife Mall, which is expected to be completed in 2019, will retain its digital roots by selling IT products. Additionally, the mall will incorporate the tech experience throughout the whole development, CapitaLand said.

The retail component, consisting a net floor area of 324,000 square feet, will be divided into three broad themes: Tech, Fit and Taste.

Under the tech cluster, Golden Village will operate a cinema with the latest in cinematic experiences while Kopitiam will operate a high-tech food court featuring tray and crockery return robots.

As part of the offline-to-online shopping experience, Funan will offer a drive-through click-and-collect shopping service where shoppers may pick up purchases at Funan’s concierge. They can also have their purchases delivered to the home.

Sports will play a big part in the new look Funan as there will be an indoor 50-lane climbing facility. Other sports facilities like basketball courts and futsal courts will also be incorporated, while it is looking to become Singapore’s first commercial building to allow cycling throughout the building.

Mr Lim Ming Yan, President and Group CEO of CapitaLand, said: “We are entering an exciting phase of real estate development driven by technology breakthroughs that are altering the fabric of our lives and the coming of age of a whole generation of consumers who grew up with the Internet. Funan is our response to these trends.”

Source : Channel NewsAsia – 7 Sep 2016

New Funan mall to feature retail innovation, new live-work-play paradigm

THE new Funan mall, when ready in the fourth quarter of 2019, will be a platform that “inspires retail innovation” and offers a “new paradigm” for living, work and play, said CapitaLand Mall Trust.

The developer will unveil at the groundbreaking ceremony on Wednesday that the new mall will simply be called “Funan” – it was originally Funan DigitaLife Mall – as a tribute to the site’s legacy and an acknowledgement of the public’s affection for the name.

Funan will go beyond selling IT products to “incorporating the tech experience throughout the entire integrated development”. For one thing, it will offer online-to-offline (O2O) retail services to target on-the-go mobile-first customers. These include a drive-through, click-and-collect and hands-free shopping service, where customers can choose to either pick up their purchases at Funan’s concierge when they are done, or have their shopping bags delivered to their homes. The service is said to be a first in the Central Business District.

Funan will have a total gross floor area (GFA) of 887,000 sq ft. Occupying more than half the GFA at 500,000 sq ft will be the mall, a six-storey retail component which comprises four levels above ground and two basement levels. Three towers will sit above, including two six-storey premium Grade A office towers from Level 5 to Level 10 with a GFA of 266,000 sq ft, and a nine-storey block housing 279 co-living apartment units from Level 4 to Level 12 with a GFA of 121,000 sq ft.

Funan will feature a “mobile-first digital platform” that is linked to a smart car parking and smart access system, said to improve productivity, energy efficiency and security. It will also offer full amenities and end-of-trip facilities for cyclists, including bike shops, bike cafés, lockers and shower facilities. Funan said this is to support the country’s move towards a car-lite society and to promote healthy living.

Redeveloped Funan mall to be completed in 2019

Funan DigitaLife Mall, which closed this July, will undergo three years of redevelopment works, according to CapitaLand Mall Trust Management on Friday (Jul 22).

This is to enhance the site’s attractiveness as a lifestyle destination in the revitalised Civic and Cultural District in Singapore, according to its press release.

Slated to be completed in the fourth quarter of 2019, the new integrated development will comprise retail, office and serviced residence components measuring approximately 887,000 square feet in total gross floor area – almost double its current size, it said.

CapitaLand Mall Trust Management, the manager of CapitaLand Mall Trust, also announced that CMT’s distributable income for the first half of the year was S$193.9 million, a 3.7 per cent increase over the S$186.9 million for the same period last year.

Distribution per unit (DPU) for the same period was 5.47 cents, a 1.5 per cent increase over the DPU of 5.39 cents for the same period last year, it added.

For the Apr 1 to Jun 30 period, the distributable income was S$97.1 million, a 3.3 per cent increase over the S$94 million for the same period last year. DPU of 2.74 cents for the second quarter was 1.1 per cent higher than the 2.71 cents for the same quarter last year.

Source : Channel NewsAsia – 22 Jul 2016

Funan to close for three years for redevelopment

Funan DigitaLife Mall will close its doors on Thursday night after being operational for 31 years to make way for three years of redevelopment works.

CapitaLand’s senior management will host a “thank you” party for some 400 invited guests comprising tenants, loyal shoppers and mall staff at Funan’s Main Atrium to celebrate the mall’s milestones over the decades as it prepares to start a new chapter.

“As the definitive IT mall over the last three decades, Funan holds a special place in the hearts of Singaporeans,” said CapitaLand in a statement.

“The new Funan will strive to be a dynamic mall. . . Technology has always been a big part of Funan and we will build on that legacy, moving from just selling IT products to enriching people’s lives with technology,” said Wilson Tan, chief executive of CapitaLand Mall Trust Management.

Public invited to submit ideas for redeveloped Funan DigitaLife Mall

Real estate company CapitaLand is calling for ideas for Funan DigitaLife Mall, which is set to close its doors for three years for redevelopment works from Jul 1.

About 388,000 sq ft will be added to the mall’s current Gross Floor Area of 482,000 sq ft when the redevelopment is completed, according to CapitaLand.

In a media release on Friday (Apr 15), CapitaLand said the public can submit their thoughts under three broad categories: Play, Create and Live, under an online campaign titled “#BeyondIT”. Submissions can be in the form of original images, videos, and/or text, CapitaLand said.

Selected entries could also be translated into large-scale graffiti that will feature on the hoarding of the new development, it added.

One regular shopper at Funan told Channel NewsAsia that he hopes the new mall will remain as an IT hub.

“A suggestion that I have is to have hands-on (guidance), so that when you buy the item, you can have confidence in using it. (There should also be) more staff to explain the specs of the product,” said Mr Shaikh Zaki.

The mall, which is known for retailing computers and other electronic gadgets, opened in 1985. CapitaLand announced in Dec 10 last year that Funan would be closed from the third quarter of 2016 and redeveloped into a “creative hub”.

“We wanted to involve the public in the redevelopment of this Singapore landmark; by inviting them to share with us their aspirations for the new integrated development and journey with us as the mall embarks on the future,” said president and group CEO of CapitaLand Limited Lim Ming Yan.

Submissions can be sent to a portal on the Straits Times.

SHOPS MOVING TO OTHER MALLS, EXPANDING ONLINE

When Channel NewsAsia visited Funan on Friday, stores at the mall were seen advertising moving out sales.

Funan centre manager Tan Pei Cheng said that some of the locations Funan’s tenants would be moving to included Raffles City and Plaza Singapura, while other tenants said they would be moving to Sim Lim Square.

IT retailer Challenger, whose 50,000 sq ft flagship store at the mall has been operating for 23 years, said it does not intend to open a new flagship store. Instead, it will rely on smaller stores around Singapore, including one at Raffles City.

While some retailers previously told Channel NewsAsia they were caught off guard when the announcement of the mall’s closure was made last December, Challenger’s chief marketing officer, Loo Pei Fen, said the shop had been prepared for it “all along”.

The retailer has been expanding its retail operations to over 50 stores all across Singapore, including the suburban areas.

“We’ve also recently launched Hachi.tech – a tech marketplace with tens of thousands of retail products for customers to shop online, pick up in-store or have a delivery,” Ms Loo said.

This move is in line with the changing trends in tech retail, with more people buying online instead of flocking to IT malls, said Dr Lee Nai Jia, head of research at DTZ.

Another store that is relocating is SLR Revolution, which has been selling cameras and related equipment for the last eight years at Funan.

SLR Revolution’s general manager, Jeremy Loh, said CapitaLand has helped facilitate the store’s move to Raffles City.

He added that he is not worried that the move will see the store losing its regular customers. “As of now, we do not have much of a concern, because we have been posting on all our websites, our Facebook page and we will be verbally informing our regular customers as they have been with us for years,” said Mr Loh.

Meanwhile, TK Foto Technic’s managing director, James Ng, said he believes in the shop’s reputation, business model, drawing power and rapport with the customers, despite the risks inherent in relocating.

He said: “Our customers will still go back to where we are, and the opportunity to go to a new mall will also open us up to newer customers. And that’s what we are looking for.”

Source : Channel NewsAsia – 15 Apr 2016

Redevelopment of Funan could yield up to 80% more floor area: SLP

The one-stop destination for electronic gadgets, Funan DigitaLife Mall, will close its shutters in the third quarter of next year as its owner, CapitaLand Mall Trust Management, has plans to turn it into a new integrated development over three years.

The redevelopment of the shopping mall could potentially increase its floor area by as much as 80 per cent, according to property firm SLP International. Property analysts have also said some uses for all that extra space could be in food and beverage retail, office leasing, and even serviced apartments.

Chestertons Managing Director, Donald Han said: “This building is about 30 years old. I think it’s timely for CapitaLand to relook into redeveloping it from scratch, rather than doing additions and alterations.

“There’s huge potential for them to look into integrated or mixed use, such as to look into potentially keeping some component of the retail, and then on the upper podium of the retail, there could be a combination of serviced apartment uses. It could also potentially be hotel use, potentially even some form of office.”

CapitaLand has remained tight-lipped on its plans, but it sees the new development as playing “a big part in the rejuvenation of the Civic District”, which is currently undergoing a S$740 million Government-funded makeover.

It is in the vicinity of the newly-opened National Gallery, which is housed in the City Hall and former Supreme Court buildings, and the refurbished Capitol Building, now known as Capitol Singapore, an integrated luxury lifestyle development.

Executive director of Research and Consultancy at SLP International, Nicholas Mak said: “Going forward, after the redevelopment, we may not see an identical IT mall, as what we have always known Funan to be. It may be a totally new building, perhaps there could be an IT component, but that will always very much depend on consumer tastes three to four years from now.”

Source : Channel NewsAsia – 11 Dec 2015

CapitaLand Mall Trust to redevelop Funan DigitaLife Mall

Funan DigitaLife Mall on North Bridge Road – a shopping centre primarily known for shops selling computers and other electronic gadgets – will be closed from the third quarter of 2016, to be redeveloped into a “creative hub”.

The mall will be closed for about three years, said CapitaLand Mall Trust Management in a press release on Thursday (Dec 10).

The real estate investment trust had hinted at such a move in July, when it suggested the mall could be sold or redeveloped.

Funan DigitaLife Mall has utilised 3.861 of its allowable Gross Plot Ratio of 7.0, and currently has an untapped Gross Floor Area (GFA) of about 388,000 square feet, said the trust.

Mr Wilson Tan, CEO of CapitaLand Mall Trust Management, said: “Given its excellent location and the strong potential for an integrated development on this site, we believe that the redevelopment of Funan DigitaLife Mall will create the greatest value for our unitholders.

“The new building on the Funan site will be an aspirational lifestyle destination that will enthrall shoppers and retailers. It will be an experiential creative hub within the city that engages communities to incubate new ideas and passions, and enables shoppers to enjoy retail in a technology-enabled environment. It will serve as a collaborative platform to connect retail, cultural, learning and business opportunities, and play a big part in the rejuvenation of the Civic District.”

More details on the new development will be announced at a later date, added the real estate investment trust, an indirect wholly-owned subsidiary of the Singapore-listed CapitaLand Limited.

Source : Channel NewsAsia – 10 Dec 2015

Funan DigitaLife Mall could be sold or redeveloped

The manager of CapitaLand Mall Trust (CMT) said on Wednesday (15 July) it may sell or redevelop Funan DigitaLife Mall (Funan Mall) in line with its policy of continually evaluating the trust’s properties.

“These options include and are not limited to a disposal or redevelopment of Funan Mall,” CapitaLand Mall Trust Management said in a filing on the Singapore Exchange (SGX).

CMT added that it has not entered into any agreement or transaction regarding Funan Mall, and that there is no certainty that it will enter into or conclude any such transactions.

CMT, Singapore’s largest shopping mall trust, said on Tuesday it will buy Bedok Mall from sponsor CapitaLand in a deal that values the mall at S$780 million.

The property trust’s other assets include Tampines Mall, Junction 8, IMM Building, Plaza Singapura and Bugis Junction.

Source : Channel NewsAsia – 16 Jul 2015