Lull's over: Retail leasing up in 1Q12

CapitaMall Trust's Jcube was more than 90% taken up when it opened for business in April 2012.

According to a release, underpinned by the largely positive consumer sentiment, leasing activities in the retail market resumed in 1Q 2012 following the momentary lull in the previous quarter when mall owners and retailers were caught in the height of welcoming shoppers during the year-end shopping season according to Colliers International.

Above all, while upscale and luxury brands continued to favour the main shopping belt, others including fast fashion chains in the likes of H&M and Cotton On were seeking an increased representation in well-positioned suburban malls. This has resulted in continued brisk take-up of retail space in suburban malls, including the newly- as well as yet-to-be-completed projects.

Jcube, a redevelopment project of the former Jurong Entertainment Centre undertaken by CapitaMall Trust in Jurong East, was more than 90% taken up when it opened for business in April 2012. Notable tenants include Franc Franc - renowned for their modern furniture and household goods – which opened its 9,300-sq ft flagship store; Laneige which set up its first standalone concept store; and Payless Shoesource, an American budget shoe retailer which opened its fifth outlet in Singapore.

Other tenants in Jcube include Misulo Children Arts, ManNa, Pique Nique, Ginza Bairin, Chili’s, Itacho, Kungfu Paradise, Canton Paradise, Nando’s and Yamazaki Boulangerie. The 204,000-sq ft mall also boasts an Olympic size ice skating rink as well as a multi-screen and IMAX cinema.

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