Marina Bay Malls To Have Underground Links Before 2010
By Kevin Lim
Of DOW JONES NEWSWIRES
SINGAPORE (Dow Jones)--Singapore intends to open the underground
walkways that will connect shopping malls in the Marina Bay area
before the Circle Line subway opens in 2010, helping boost
pedestrian traffic and accelerating the development of the island's
New Downtown.
"LTA has plans to open the linkways connecting Esplanade station to
Suntec City, Marina Square and CityLink Mall before the station is
opened in 2010," the Land Transport Authority said in response to
queries from Dow Jones Newswires.
The authority said it's unable to advise on the likely opening date
as it is still in discussions with Circle Line operator SMRT Corp.
(S53.SG) and the mall owners on the operational details.
People involved in the development said the underground walkways
could theoretically be opened early next year as much of the
construction-related work around Esplanade station is completed.
But 2008 is a more likely date since the various parties need time
to develop a coherent plan to get shoppers to use the links.
"Ninety meters of nothing but walls can look negative. It may not
be retail shops but you need to do something to make it an
experience," said Tan Guan Heng, Asia Pacific director for the
U.S.-based International Council of Shopping Centres.
Singapore is developing the Marina Bay area near the existing
Raffles Place/Shenton Way central business district as a new
commercial and leisure hub. When the Circle Line subway is ready in
2010, the waterfront area will incorporate the island's new
Business & Financial Centre, the Marina Bay Sands casino-resort
as well as gardens and high-end residential developments.
LTA said that construction work for most of Circle Line stage one,
which covers Esplanade station and the other downtown stops, is
completed.
But train services will only begin running in 2010 as authorities
need to complete the Nicoll Highway station and the adjoining
tunnels, whose construction was delayed by a major accident two
years ago.
The opening of the underground walkways connecting the Esplanade
subway station to the nearby malls will make it easier for people
to move within the Marina Bay area, which is split by busy roads
leading to a major expressway.
It will also provide tenants of the five office towers at Suntec
City and guests of the five hotels in the vicinity with better
access to the nearby City Hall subway station, which serves as an
interchange for Singapore's North-South and East-West subway
lines.
For example, pedestrians will be able to get directly to Suntec
City mall, Singapore's largest with 835,600 square feet of retail
space, from City Hall station via the underground CityLink
Mall.
The walkway linking Suntec City with CityLink Mall, which will
include space for retail and food and beverage, hasn't been built
yet, however, and will take up to a year.
Currently, pedestrians have to get out of CityLink Mall and cross
an overhead bridge to get to Suntec City.
As for Marina Square, which is part of the same complex that houses
the Marina Mandarin, Pan Pacific and Oriental hotels, pedestrians
using the underground links will be able to get into the middle of
the complex.
Marina Square, with over 790,000 square feet of retail space, is
one of Singapore's largest shopping malls.
One of the entry points to Esplanade Station in right in front of
Marina Square, and people familar with the matter said that the
mall intends to extend the underground link so that shoppers can
enter through the basement.
At the moment, one corner of Marina Square is connected to Suntec
City via an overhead walkway, while people walking through CityLink
Mall must cross a narrow road to get into the other end of Marina
Square.
Suntec Real Estate Investment Trust (T82U.SG) owns the mall and
part of the office space at Suntec City, while Marina Square is one
of the properties held by Singapore Land Ltd. (S30.SG). Hongkong
Land Ltd. (H78.SG) in turn owns CityLink Mall as well as the
adjoining One Raffles Link office building.
SMRT, which will take over the Circle Line when completed, plans to
incorporate retail space in the future Esplanade Station and its
linkways.
"We are working with the authorities and hope to open them (the
stores) when the linkways open," a spokesman told Dow Jones
Newswires.
SMRT currently operates Singapore's North-South and East-West
subway lines as well as a fleet of buses and taxis. Over the past
few years, it has sought to boost its earnings by redeveloping
several of its subway stations into underground malls to tap the
passing passenger traffic.
Separately, Raffles City, which sits above City Hall station, is
building a 90-meter underground retail corridor that will lead to
the Esplanade subway station.
The corridor, which will be completed next year at a cost of S$20
million, including development charges, is expected to yield about
15,000 square feet of retail space.
"The extension of our mall by this shopping link to Esplanade
Station will enhance our connectivity between two key nodes on the
MRT (subway) network giving us unparalleled reach," said Raffles
City's general manager Anthony Yip.
Raffles City, a complex comprising a mall, a convention center, an
office tower and two hotels, is in the process of being acquired by
CapitaCommercial Trust (C61U.SG) and CapitaMall Trust (C38U.SG) for
S$2.1 billion. The purchase is slated for completion in
September.
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