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 IMM Building (IMM) is to optimise its financial performance and strengthen its market positioning as the leading suburban mall in the west and north-west regions of Singapore through continuously enhancing the retail experience of shoppers and visitors.
IMM is located in the high-density residential area of Jurong East and in close proximity to major office and industrial developments like the International Business Park. The mall is also just 5 minutes’ walk away from Jurong East Mass Rapid Transit (MRT) station and bus interchange. It provides a valuable diversification to other properties in CMT’s portfolio which are located in the central, northern and eastern parts of Singapore.
This unique, suburban, five-storey mixed development houses retail shops, offices and warehouses under one roof. It has an open-air car park on the ground floor, five levels of covered car park and an open-air car park at roof level. Currently, shoppers enjoy free car parking as well as a free shuttle bus service plying between the mall and Jurong East, Clementi and Boon Lay MRT stations. IMM is positioned as a suburban family mall targeting families and consumers residing and working in the western region of Singapore.
Asset Enhancement Initiatives
Four glass kiosks were added next to the travellators at Level 1. An overhaul of the existing restrooms is underway and the upgrading works for the restrooms located next to Giant Hypermarket have already been completed. In addition, the multi-storey car park has been refurbished with a new coat of paint and new light fittings, giving it a brighter look. The car park link-ways to the lift lobbies on all levels have also been upgraded.
Plans to construct an extension block and a major revamp of the entire mall is underway and the asset enhancement work is expected to commence in early 2006.
Tenancy Mix
IMM has a wide tenant mix covering furniture, interior design, home furnishings and renovation, bridal, lifestyle, fashion, services and food. Major anchor tenants include Giant Hypermarket, Best Denki, Daiso discount store, Kopitiam and Bagus.
New tenants like Vincent Watch, G-Force Network, Elementz and Beauty Language were brought in when the four new glass kiosks were introduced in May 2005 to improve the trade mix. The food mall on Level 3 was replaced by a Hong Kong style café offering savoury Hong Kong cuisine and dim sum.
Promotional and marketing activities
In addition to many shows and promotions catering for the residents and office workers in our main catchment area, IMM also organised a few niche direct advertising promotions with tenant participation which resulted in an increase in shopper traffic. Iconic events, such as the annual 3-hour sale, Mother’s Day, anniversary promotions and festive activities and stage shows, achieved an average 15 percent increase in traffic and tripled the sales turnovers for some tenants.
In 2005, we also injected new excitement into the shopping experience with thematic events like the Thailand Trade & Cultural Fair, KK Hospital ‘Best Breastfed Baby’ contest and baby fair and interior design and home furnishing promotions which attracted new shoppers from other parts of Singapore.
With the opening of the new extension block in the next two years, tenants can look forward to more activities which will draw even more shoppers to IMM.
With the opening of the new extension block in 2006, tenants can look forward to more activities which will draw even more shoppers to IMM.
