News

Commercial Property

Gerv Tacadena

, Singapore

Published:

8 years ago

CapitaLand-owned Funan Mall's pre-committed leases hit 30%

Some of the key tenants include Golden Village and Newstead.

CapitaLand Mall Trust's Funan has already achieved 30% of leases pre-committed, RHB analyst Vijay Natarajan said.

According to the analyst, around 30% of its retail net leasable area of around 324,000 sqft. has been pre-committed well ahead of its expected re-opening in 4Q19.

"The healthy pre-commitment level augurs well for CMT to be selective about future tenants, and would aid in better curation of the mall," Natarajan
said.

Some of the key major committed tenants include Golden Village, W!ld Rice, Fairprice Finest and Newstead.

"CMT said it is on track to achieve its yield target of 6.5% for the redevelopment of Funan Mall," the analyst said.

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