INTRODUCTION | INGENIOUS VALUE CREATION & GROWTH STRATEGIES | IN CONVERSATION | INSIGHTS INTO GROWTH | INSPIRING LEADERSHIP
INTEGRATING PEOPLE & SOCIETY | INVESTOR RELATIONS | IN REVIEW | INCREASING DOMINANCE | IN DETAILS
The objective for Bugis Junction is to optimise its financial performance and strengthen its market positioning as the leading lifestyle mall, focusing on fashion, dining, entertainment and shopping experience and targeting young adults and Professionals, Managers, Executives and Businessmen (PMEBs).
Located in the heart of Singapore’s civil and cultural district, Bugis Junction is a popular shopping centre set within a leading redevelopment project. The mall is conveniently located with direct access to the Bugis Mass Rapid Transit (MRT) train station and is well served by major bus routes.
Positioned as a modern one-stop shopping destination for young adults and PMEBs, Bugis Junction houses 218 specialty shops spread over one basement and four storeys. With its strategic location at the centre of Singapore’s Arts, Culture, Learning and Entertainment Hub, Bugis Junction is expected to benefit from the increased customer traffic and buzz created in the vicinity by the opening of the main National Library, the new Singapore Management University city campus and the scheduled opening of LASALLE-SIA College of the Arts in 2007.
Asset Enhancement Initiatives
In 2005, a strong testament to our ability to create value for our Unitholders was the successful unlocking of the value of Seiyu’s master lease, even before the acquisition of the asset was completed.
We will continue our proactive efforts to enhance Bugis Junction in 2006 by focusing on two key aspects: optimising the use of retail space in the mall and enhancing customers’ shopping experience. Planned work includes the reconfiguration of the areas taken back from Seiyu to create more specialty retail units and maximise the rental value. In addition, we are considering the conversion of some common areas into leaseable units and the rejuvenation of the food & beverage outlets at Malabar Block to tap the increased traffic flow from the opening of the National Library next door. We also plan to provide additional escalators to enhance connectivity to the upper levels, improve the air-conditioning system, upgrade restrooms and install a car park guidance system.
Tenancy Mix
Bugis Junction has a large and diversified tenant base comprising 218 leases as at 31 December 2005. The tenant mix includes popular brand names such as Seiyu, Shaw Theatres, Kinokuniya Bookstore and Cold Storage.
Continuing efforts will be made to further improve the current retail offering through introduction of better brand names and tenant-mix to strengthen Bugis Junction’s market position.
Promotional and marketing activities
Attractive lucky draws, free gifts, festive booths and a great line-up of performances heralded the start of the Christmas celebrations at Bugis Junction on 19 November 2005. As well as our own lucky draw, shoppers had a chance of winning Nissan March cars and were treated to performances from the Safri Boyz, Swiss Dream Circus and The Comedy of James G, while roving carol singers took the festive mood right into the premises of tenants.
Vendors for our Christmas Gift Fair and pushcarts along our air-conditioned streets were specially selected for the quality of their festive goods, and a structure in the fountain area at Bugis Square was designed both as a Christmas decoration and a gift booth.
Other exciting and well-publicised events such as MediaCorp’s ‘Super Host’ press conference, ‘Aeon Flux’ movie promotion and AXN’s ‘Kung Fu Hustle’ promotion drew very good crowds.
