OBJECTIVE
The objective for Jurong Entertainment Centre (JEC) is to continuously optimise its financial performance, strengthen its market position as a one-stop shopping, dining and entertainment centre and to provide one of the best shopping experiences to its visitors.

MALL DESCRIPTION
JEC is an entertainment complex situated in the heart of the Jurong East Regional Centre. The mall is strategically located next to the Jurong East MRT interchange train station and bus interchange, as well as the Jurong East National Library. JEC comprises four levels of retail and entertainment spaces and one level of basement car park. The mall is positioned as a one-stop shopping, dining and entertainment destination for youths, young executives and residents in the western region of Singapore.

ASSET ENHANCEMENT INITIATIVES
In 2007, the flooring in passenger lifts and glass doors at lift lobbies were replaced to create a more conducive shopping environment. New directional signages were also installed at the basement car park to make parking a breeze for shoppers who drive to JEC.

JEC is scheduled to commence major refurbishment work in Fourth Quarter1 2008. This follows the receipt of URA’s Provisional Permission (PP) to increase the plot ratio of JEC from 1.85 to 3.0 for full commercial development. The PP received effectively increases the GFA of JEC by over 62.1%, from approximately 170,000 sq ft to approximately 275,500 sq ft, and the NLA by over 88.9%, from approximately 111,000 sq ft to approximately 209,700 sq ft. A differential premium of approximately S$111.482 per sq ft of additional GFA or S$13.7 million payable to the authorities, has already been locked in.

Under the planned asset enhancement program, the six-screen cineplex on Level 1 will be relocated to a newly created Level 5. On Level 3, the current non-Olympic-sized rink, measuring 20 metres by 40 metres and operated by Fuji Ice Palace, will be replaced with Singapore’s first Olympic-sized ice skating rink measuring 30 metres by 60 metres. The new rink will be flanked by F&B operators and restaurants on both sides, providing shoppers with a unique dining experience. If approved by the relevant authorities, the ice skating rink will be classified for use by Civic and Community Institution (C&CI) purposes, further adding approximately 35,000 sq ft of additional GFA at JEC. The retail space on all floors will also be reconfigured so as to maximise the efficiency at the mall. In addition, a rooftop landscaped garden will be constructed on Level 6.

The proposed asset enhancement initiative is expected to incur a capital expenditure of S$138.2 million, and is expected to increase NPI by S$12.4 million per annum and achieve an ungeared ROI of 9.0%.

TENANCY MIX
The key tenants of JEC include a six-screen cineplex, Shaw Theatres, Fuji Ice Palace, family karaoke club, K-Box and game arcade, Zone X. Other tenants, such as Morris Allen Study Centre, This Fashion, Kopitiam, and major fast food outlets, such as McDonald’s, KFC, Pizza Hut and Delifrance, further add to the retail offerings at the mall. In line with the proposed enhancement works, the tenancy mix at JEC will be reviewed and enhanced to provide shoppers with a brand new shopping cum entertainment experience.