INTRODUCTION | INGENIOUS VALUE CREATION & GROWTH STRATEGIES | IN CONVERSATION | INSIGHTS INTO GROWTH | INSPIRING LEADERSHIP
INTEGRATING PEOPLE & SOCIETY | INVESTOR RELATIONS | IN REVIEW | INCREASING DOMINANCE | IN DETAILS
NEW AQUISITIONS
Asset Enhancement Initiatives
At Jurong Entertainment Centre, two units were amalgamated and converted into a food court, previously not available in the centre, to offer more variety of food at affordable prices. The interior of the mall as well as the Basement 1 car park were brightened with a fresh coat of paint and lighting was replaced. At the same time, the two washrooms on Level 2 were upgraded. There are further plans in 2006 to carry out more asset enhancement works to improve both the external building façade and internal shop configuration and create a more conducive shopping experience.
We will be exploring various options to asset enhance Hougang Plaza Units through potential reconfigurations and tenancy remixing at the mall.
Major improvement works carried out at Sembawang Shopping Centre since June 2005 include conversion of the cash card parking system to Electronic Parking System (EPS) to provide seamless vehicular flow. Upgrading of the façade and shop reconfiguration are targeted to commence in end 2006. Other initiatives will be undertaken to enhance the value of the mall and increase retail space through decantation of non-commercial space and retail space on Level 4. The decanted area will be transferred onto Basement 1 and Levels 1, 2 and 3. An open landscape plaza will also be created on the rooftop.
Tenancy Mix
Jurong Entertainment Centre houses the only ice-skating rink in Singapore, Fuji Ice Palace, Shaw Theatres, K-box and all the major fast food outlets. In November 2005, a new food court was introduced at Level 2 and this has further enhanced traffic flow in the centre.
Current major tenants at Hougang Plaza include Kopitiam, G-Value supermarket, Novena Furnishing Centre , K-Box and Jack’s Place.
F&B is critical to Sembawang Shopping Centre, and, within days of its acquisition, Kopitiam Foodcourt was confirmed as a tenant and now occupies 9,100 sq ft on Level 4. The introduction of an established food court chain in the centre has resulted in significant improvement in shopper traffic. In line with the proposed enhancement works, the tenancy mix will be further enhanced and strengthened in 2006.
Promotional and marketing activities
To reinforce and strengthen the positioning of Jurong Entertainment Centre as a hip entertainment and shopping destination, aggressive joint promotions were implemented with TV stations, movie distributors and record companies. These included such iconic events as ‘JEC Best of Friends’, ‘Gaming vs Reality’ and a ‘Body-Arts’ painting competition which appealed to youngsters from the nearby secondary schools and polytechnic institution as well as residents from the West.
In addition, during the year, pushcarts and promotion space vendors were brought in to add variety to the tenant mix.
In 2006, our tenants can look forward to more sales-effective events targeted at youth, while shoppers can look forward to even more entertaining and fun iconic and thematic events.
