Weekly Property News Highlights: 20 May - 26 May 2020

The launch of e-commerce platform, eCapitaMall, by CapitaLand and the redevelopment of a logistics warehouse in Jurong by Logos. Colliers' thought-leaders weigh in on this week's property news highlights.


CAPITALAND TO LAUNCH E-COMMERCE, ONLINE FOOD ORDERING PLATFORM

The Business Times - May 23

CapitaLand on Friday said it will be launching an e-commerce platform eCapitaMall as well as an online food ordering platform Capita3Eats to complement the sales of its shopping malls in Singapore.

The property group's latest move is aimed at driving sales for retailers during the first phase of Singapore's reopening, from June 2, and beyond, the company said.

Both platforms will be accessible to the public via the CapitaStar app and CapitaLand's mall websites from June 1.

Jonathan Denis-Jacob, Associate Director, Advisory & Consulting:

The launch of the eCapitaMall and Capita3Easts platforms is forward-looking, and was created to bridge the gap between the brick-and-mortar and online retail environments.

These new platforms will strengthen the positioning of the CapitaLand retail portfolio in the virtual space by providing greater online exposure, improved transaction capability and seamless shopping experience for consumers.

A better integration of the physical retail locations and online e-commerce platform is a key strategic consideration for shopping malls in Singapore as e-commerce continues to rise by a double digit figure every year. We expect more shopping centre operators across Singapore and Asia to follow suit and provide their tenants with an integrated online platform in the coming years to increase their share of the growing e-commerce pie. 

 

LOGOS, CSC HOLDINGS TO REDEVELOP JURONG WAREHOUSE FOR S$108M

The Business Times - May 20

Australian logistics property specialist Logos is partnering Singapore Mainboard-listed CSC Holdings Limited (CSCHL) to redevelop a site at Tanjong Penjuru Crescent into a six-storey warehouse, for an estimated total development cost of S$108 million.

This redevelopment forms part of Logos' newest Singapore fund, called Singapore Logistics Venture 2.

In a statement, Logos said the fund recently closed with an investment capacity of S$1.2 billion for "the acquisition and development of high quality, modern logistics properties in Singapore". The existing four-storey industrial property at 2 Tanjong Penjuru Crescent, located in Jurong Industrial Estate, will be redeveloped into a 46,000-square-metre six-storey ramp-up logistics facility with office space, a cafeteria and rooftop parking.

Steven Tan, Senior Director of Investment Services:

The current pandemic has resulted a boost in e-commerce, delivery services, personal protection equipment (PPE), etc. The surge for such activities has thus generated demand for logistic spaces, and Logos is probably riding on the growth to meet logistics needs with modern specifications.

Tanjong Penjuru is located near to Jurong Gateway, Tuas Second Link and Hospitals. Accessibility to the central business district (CBD) is just a short drive via the West Coast Highway and Ayer Rajah Expressway (AYE), which makes this a very good location for logistic space.

 

 

 


Related Experts

Jonathan Denis-Jacob

Associate Director

Singapore

Jonathan is Associate Director and head of advisory services at Colliers International Singapore since May 2018. He is a registered professional planner, urban economist and real estate professional with over 12 years of indutry experience. 

Jonathan is in the business of providing bespoke strategic advisory through solid economic, financial, and market analysis to help clients meet their real estate investment and development goals.

He advises public, private and institutional clients on a variety of urban development, tourism and real estate projects across Asia.

 

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Steven Tan

Senior Director

Singapore

Steven has over 25 years in the real estate business and progressed through various roles in this industry from property management to valuation and auction then into investment sales to leading the  non-institutional capital markets – added to his original role as head of the auction team in Colliers Singapore.

Steven is known to preserve a close relationship with his clientele who are High Net-worth individuals - known in the local as Tow Kay (big boss in local dialect), investors from all walks of life and business partners big and small, making him the leading choice to head the non-institutional capital markets.

Steven was lauded for brokering the first freehold industrial sale in the year 2020 for 190 Macpherson Road at $88m. His other notable and worth-mentioning deals include the collective sale of 2-24 Phoenix Road at $42.6M which was sold above its reserved price and another industrial building (food factory) at 200 Pandan Loop at $56.8M.

Steven also qualified as a licensed appraiser with the Inland Revenue Authority of Singapore, a member of Singapore Institute of Surveyors and Valuers (MSISV) and member of Royal Institute of Chartered Surveyor (MRICS).

 

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