The Marina Bay Financial Centre mega project worth S$4-billion will push through despite the global financial downturn. In one year, phase one of Marina Bay Link Mall will be launched and ready for operation with tenants occupying the offices above.
Raffles Quay Asset Management (RQAM) revealed that the 176,000-square-foot mall will become a place to "Shop, Dine and Play." The company said the response rate for the said project has been quite positive.
“So far, the take up rate has been very good," said RQAM Chief Executive Officer, Wilson Kwong. "We are one year away from completion and we are honoured to have 45 per cent pre-commitments for phase one alone, not to mention that the office segments we have also received very good take up rates."
Since a project cannot be complete without two factors that Singaporeans love — shopping and food, 40 percent of the mall will be occupied with beverage and food shops, while the remaining shops will be composed of retail outlets.
The first phase of the project will receive its permit for temporary occupation by the second half of next year, while phase two will be launched by mid-2012.
Marina Bay Financial Centre’s developer said approximately 50,000 people are expected to patronize the mall once it opens.
Although the developer did not reveal the primary tenants, it has promised convenience services and prominent lifestyle brands for those who live and work nearby. However, RQAM disclosed it will be difficult for the new mall to avoid duplicating what other malls are already offering.
"You do need essential services in all the retail malls and that is common, not just in Marina Bay Link Mall but in all other malls as well," said Kwong. "But in doing that, we made sure they are new to market concepts. But essentially, all the concepts will cater for the residences and the people working in the office towers."
The mall will be connected with the Downtown MRT station and underground pedestrian networks to ensure the convenience of shoppers and customers.