Raffles City Chongqing nearly fully leased five months ahead of opening
CapitaLand has achieved 95-per-cent leasing rate for the retail component of Raffles City Chongqing ahead of its opening in September.
The 235,000sqm shopping mall will be the first component to begin operations in the megastructure, spanning a total of 1.12 million sqm in construction floor area. The five-storey mall will house more than 400 brands, comprising a mix of local specialty brands and well-known international brands.
About 40 per cent of the brands at the mall will be new-to-market, flagships or new concepts.
“Building on the strong track record of CapitaLand’s ‘Raffles City’ brand of integrated developments, we are pleased to achieve robust leasing commitment for the retail component of Raffles City Chongqing,” said CapitaLand Group president China Lucas Loh.
“China’s retail sales continue to grow at one of the fastest rates in the world, buoyed by rising disposable incomes and government initiatives to boost domestic consumption. As a megacity with a population of more than 30 million people and one of the fastest growing tourist destinations in the world, Chongqing is well-positioned to attract local and international retailers. We are delighted that Raffles City Chongqing’s strategic location, iconic design and brand premium have combined to make it a location of choice for brands seeking growth in China.”
“An embodiment of Chongqing’s global city ambitions, Raffles City Chongqing will introduce a world-class retail experience to the city while showcasing the best of local cultures to the world,” said CapitaLand CEO commercial management, China, Chin Phei Chen.
“The new-gen mall will offer personalised customer experiences that include guided tours and guest relations, underpinned by CapitaLand’s CapitaStar app that offers value-added services such as augmented reality interaction and navigation, mobile payment and restaurant booking. It will also leverage analytics and sensors to help retailers gain consumer insights and optimise offerings.”
Located in Chaotianmen, Raffles City Chongqing is Singapore’s largest single development in China at RMB24 billion (US$3.48 billion). Besides the mall, Raffles City Chongqing features 150,000sqm of Grade A office space, about 1400 residential apartments, Ascott Raffles City Chongqing serviced residence and InterContinental Raffles City Chongqing hotel housed across eight skyscrapers.
The megastructure is integrated with a major transportation hub comprising ferry, subway and bus stations.
The shopping mall is a key component of Raffles City Chongqing. The Gateway Park on the roof of the retail podium will be open to the public for 24 hours daily, serving as a social space for the community.
Raffles City Chongqing’s “horizontal skyscraper”, The Crystal, will be a unique attraction for locals and tourists. An enclosed sky bridge nestled above four 250-metre-tall skyscrapers and linking two adjacent skyscrapers by cantilevered bridges, The Crystal will be the world’s highest sky bridge linking the most number of towers. It houses the Exploration Deck, a viewing gallery accessible to the public; The Private Club, a members-only clubhouse; and a wide range of restaurants and bars at the Sky Garden.
About 40 per cent of the more than 400 brands at Raffles City Chongqing will be new-to-market brands, flagships or new concepts. These include international fashion retailers Adidas Sportswear Collective, C&A, Gap, Old Navy and Ugg. F&B brands making their foray in the city include homegrown Haidilao hotpot, TWG Tea from Singapore and Spacelab, an “internet celebrity” restaurant that uses spiral slides to serve food to its customers. Experiential retail and lifestyle brands opening at Raffles City include online-to-offline retail store Jiwu by Suning, e-sports operator CLSA and Whyte Woolf Fitness Club. Other popular brands at Raffles City Chongqing include Calvin Klein, Charles & Keith, Evisu, G-Star, Salvatore Ferragamo, Urban Revivo, and Under Armour.
These newly signed brands will complement previously announced anchor tenants that include cinema chain CGV from South Korea, which will operate its national flagship at Raffles City Chongqing. Chinese electric vehicle company Nio will open its largest Nio House in Chongqing to serve as a showroom and exclusive clubhouse for owners. Bookstore Yanjiyou will launch its regional flagship at the mall, including a lifestyle cafe. In addition, Ole’ will operate a gourmet supermarket with a food hall.