Kallang Wave Mall to Open Next Month

retailproperty

The Singapore Sports Hub's retail mall has been named the Kallang Wave, the mall's management, SMRT Alpha, revealed at a media preview on Wednesday.

SINGAPORE: The Singapore Sports Hub's retail mall has been named the Kallang Wave.

According to its mall manager SMRT Alpha at a media preview on Wednesday, the mall will open from June.

Spread over 41,000 square metres, Kallang Wave will boast the tallest indoor climbing wall in Singapore and the first sports-themed hypermarket.

The mall is part of the S$1.33-billion Singapore Sports Hub, and SMRT Alpha said it already has an occupancy rate of over 80 per cent.

SMRT Alpha is a joint venture between subsidiaries of SMRT and NTUC Fairprice Co-operative.

Dawn Low, board of director at SMRT Alpha, said: "Because of its unique location, which is well served by Circle Line Stadium (station), as well as the East West Line (Kallang) which is accessible using a pedestrian overhead bridge, we are quite confident that we will have good visitorship to the mall and also the facilities around.

“With our wave of partners that have come on board in support of the mall, and also in support of the facilities around -- such as our bank partners, our community partners -- we're very confident that Singaporeans will be able to come here to shop, dine, and play, and truly spend an integrated experience throughout the day with their young and their old."

But analysts said until the Sports Hub is fully operational, and unless there is a strong pipeline of events, it may be hard for Kallang Wave's retailers to attract visitors.

Ku Swee Yong, Century 21 Singapore’s chief executive officer, said: "In comparison with the current retail shops at Leisure Park Kallang as well as the Singapore Indoor Stadium, we definitely can observe… many quiet periods in between concerts, in between sporting events... We cannot see that current catchment being able to sustain the current retailers."

But SportsHub, the consortium behind the entire project, is optimistic.

Oon Jin Teik, SportsHub’s chief operating officer, said: "The mall is going to open in tandem with all the events. So we have the rugby, the swimming events, (and) the community events -- all coming along at the same time.

“As the mall opens, each tenant has got its own plans as well, so again you see a staggered and phased approach here. We are not so concerned about it... as (it is in) the early phase, and it is a complex project, you will see all these multiple parties having to come together. Each will look a bit faster or slower, but it's not a concern."

The mall at the Singapore Sports Hub is touted as one that caters to a wide spectrum of users as it comprises a supermarket, fashion retail, and even food stores.

When asked about the retail mix, Mr Oon said he is not worried that the retail offerings at the mall will crowd out genuine sports users who come to this area.

Mr Oon added that besides sports, it is important to have other offerings, such as dining options. SMRT Alpha also added that there are over 3,000 parking lots in the facility, of which 500 are directly under the mall.

- CNA/nd/gn

Source: ChannelNewsAsia -14 May 2014