Commercial & Industrial Property News Update

Singapore - Westgate Shopping Mall Achieves 50% Pre-commitment

November 29, 2012

A new shopping mall in the Jurong Gateway mixed-use development has attracted pre-commitments for 50% of its total net lettable area.

More than 200,000 sq ft has been pre-leased at the much-anticipated Westgate shopping mall in the Jurong Gateway, well ahead of its scheduled opening in December 2013.

The upcoming mall, with a total of 416,000 sq ft in net lettable area, is targeted mainly at middle-income families, professionals, students and commuters. Westgate is part of the Jurong Gateway integrated development, a joint venture between CapitaMalls Asia (CMA) Limited, CapitaMall Trust (CMT) and CapitaLand Limited.

The office component of the project, Westgate Tower, has also secured 50% pre-commitment from CapitaLand.

Among the tenants that have pre-committed to space at Westgate are Paul Bakery and Japanese supermarket chain Isetan. Lim Tien Chun, Managing Director at Isetan (Singapore) said that the supermarket is “looking forward to the opening of our store at Westgate – our sixth in Singapore. It will be our first store in the west of Singapore and also our first Japanese-style supermarket outside Orchard Road.”

Other tenants also include Food Republic, Paradise Dynasty, Café Crema and Steak & Seafood Robatayaki Buffet. Yamaha will also open a music school at Westgate.

“Westgate will be the catalyst for the transformation of the Jurong Lake District into a key regional hub, the largest outside the Central Business District. We are excited to bring retailers such as Paul Bakery and Isetan Supermarket to Singapore’s West with their first stores outside Singapore’s downtown core,” commented Wee Su Lin, General Manager of Westgate.

Tags: Shop for rent, Business space, Commercial real estate

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