CapitaLand announces plans for $560 mil new Funan mall
By Tan Chee Yuen
/ CapitaLand |
CapitaLand Mall Trust has announced plans for a new $560 million mall to be called Funan, which will be built on the site of the former Funan DigitaLife Mall. CMT held the ground-breaking ceremony for Funan on Sept 7.
Funan will have a total gross floor area (GFA) of 887,000 sq ft. Over half of the GFA, or 500,000 sq ft, will be in the six-storey retail component, which comprises four levels above ground and two basement levels. Funan will integrate online-to-offline (O2O) shopping experiences by offering the CBD’s first drive-through click-and-collect and hands-free shopping service. Shoppers 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.
“CapitaLand’s Funan Mall certainly sets a very high standard by embracing technology and lifestyle trends,” says Christine Li, director of research at Cushman & Wakefield. The landlord is thinking out of the box to reinvent itself in order to combat the trend of retailers moving from offline to online, she adds.
In addition, three towers will sit above the retail component. They include two six-storey Grade A office towers from the fifth to 10th storey with a GFA of 266,000 sq ft. Another will be a nine-storey residential tower with 279 co-living serviced residences, from the fourth to 12th storey, with a GFA of 121,000 sq ft.
Artist's impression of Funan
Source: CapitaLand Mall Trust
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