Showtime for CapitaLand Mall Asia
Targeting global retailers who are looking to Asia to chart growth, CapitaLand Mall Asia has its biggest presence ever at international retail event Mapic in Cannes, France.
It is the fifth consecutive year CapitaLand has exhibited at Mapic, one of the world’s largest events matching developers with retailers. It runs over three days this week.
CapitaLand is preparing to open eight malls in three Asian countries next year with a combined retail gross floor area (GFA) of nearly 1 million sqm, the group’s largest-ever retail offering in a single year.
Of the eight malls, six are retail components of integrated developments in China and the others are stand-alone malls in India and Malaysia. They are Raffles City Changning, CapitaLand’s second Raffles City project in Shanghai; LuOne, also in Shanghai; Raffles City Shenzhen; Raffles City Hangzhou; Suzhou Center Mall (pictured); CapitaMall Westgate in Wuhan; Melawati Mall in Kuala Lumpur; and Forum Mall in Mysore.
CapitaLand Mall Asia CEO Jason Leow says the opening of the malls underscores the group’s strength in connecting retailers to ready catchments of shoppers.
At September 30, 76 per cent of CapitaLand’s assets contributed to recurring income, of which shopping malls and integrated developments form the bulk, says Leow.
“Our 103 malls in Singapore, China, India, Japan and Malaysia provide brands with access to about 3 billion consumers in these five markets combined.”
He says Mapic is an excellent platform for CapitaLand to boost its brand visibility and strengthen its retailer network.
Its presence at the trade show has been enhanced by one of its joint ventures being nominated for the Mapic Awards. Listed for Best Futura Shopping Centre Award, Jewel Changi Airport was developed by Jewel Changi Airport Trustee – a JV between Changi Airport Group and CapitaLand Mall Asia – as a mixed-use complex featuring lifestyle offerings including a five-storey indoor garden, play attractions, shopping and dining options, a hotel, and airport services.
It is scheduled to open next year. The Futura award recognises retail developments with outstanding architectural qualities and strong, original concepts.
Jewel Changi Airport is the only Singapore entry among 50 projects shortlisted across 12 categories at the Mapic Awards, with the results to be announced at a gala dinner.
CapitaLand Mall Asia CapitaLand Mall Asia, a wholly owned subsidiary of real-estate company CapitaLand, is one of the largest shopping mall developers, owners and managers in Asia by total property value of assets and geographic reach.