After the completion of asset enhancement initiative in June last year, the new Funan mall has re-opened for six months. The mall has reported good results post-redevelopment.
3 key things you need to know
1. Post-opening in June last year, Funan mall enjoys 70% higher shopper traffic.
2. Both its retail and office's occupancy close to 100%.
3. The mall now houses more than 200 brands, including concepts or flagship stores. It also attracts e-commerce giants such as Taobao, which launched its first integrated store in Southeast Asia. Besides, the local fashion brand, Love, Bonito have also set up its largest physical store within the mall.
CapitaLand Mall Trust is currently trading at its historical average yield of 5% and 1.2 price-to-book ratio.
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