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Magazines Archives - 2009 July

nex ‘biggest’ suburban mall
Story 12 - Property Update

THE north-eastern suburb of Singapore will soon be home to a new six-storey mall, christened last April as ‘nex’, bringing residents from the neighbouring suburbs to “excellent services and offerings for the entire family”.

Developed by Gold Ridge Pte Ltd, nex has also been slated as the “biggest mall” in the north-east of Singapore, spanning close to 950,000sqf, with a net lettable area of up to 600,000sqf, and is expected to be complete by end-2010.

Integrated with the North East and Circle MRT (mass rapid transit) lines, the “new retail and entertainment cross-junction” has a primary catchment of about one million residents, and is within close proximity to industrial areas such as Toa Payoh Industrial Park, New Industrial Road and New Tech Park.

“nex is a unique and refreshing name that is simple to say and recall. It is also very appropriate for this retail project as the letter ‘x’ in the name represents the connectivity that this upcoming integrated transport hub will offer,” Victoria Sharpe, CEO of Pramerica Real Estate Investors (Asia), investment manager for Gold Ridge, explained in a statement.

The S$1.3-billion (US$900-million) mall has already secured anchor tenants, among which are NTUC Fairprice, which will open its 60,000sqf hypermarket, FairPrice Xtra; Shaw Organisation, which will oversee a 10-screen, 40,000sqf cineplex on the fourth floor of the mall; and F&B group RE&S Enterprises Pte Ltd to manage a 12,000sqf thematic food zone in the basement of the mall.

The developer has also revealed that it is in “negotiations” to secure a 50,000sqf department store operator within the mall.


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2009 July Stories:

Are the economic green shoots real? - Guarded optimism is best stand for Asian retailers

APRCE 2009: Changing retail environment needs new ideas for continual growth

HOFEX 2009 beat the odds to post a better-than-expected turnout

US candy fair’s record crowd displays upbeat mood

Retailers emerged in sound shape at end-2008 despite global crisis

Cover Story: SM Department Store - A passion for fashion

Priorities in supply-chain management, 2009-10

India makes comeback as the world’s most attractive market for retailers

Customers have it their way at latest BK outlet in S’pore

Study shows retailers’ changing perceptions towards IT

Click-and-mortar business the way to go for digital lifestyle products

nex ‘biggest’ suburban mall

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