CapitaLand Mall Trust (SGX: C38U) unveiled exciting plans for Funan last week.
Funan could lead the way forward for retail-based real estate investment trusts (REITs). Retail REITs like CapitaLand Mall Trust have been experiencing more competition from online retailers. Meanwhile, tight labour conditions has also made it harder for its tenants to set-up shop.
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The new plans for Funan could address some of these issues. Here’re are four ways that Funan could change the retail landscape:
- CapitaLand Mall Trust will be partnering with local food-court operator KopiTiam to introduce self-ordering kiosks, food collection conveyor belts and tray return robots. This may bring relief to tight labour condition.
- CapitaLand Mall Trust is also looking to tap into the online to offline trend (O2O). The REIT will look to implement a click-and-collect and hands-free shopping experience.
- Funan will be looking to turn shopping into an experience. CapitaLand Mall Trust said Funan will have a 4,000 square feet (sqft) urban farm which will give a “from farm to table” dining experience.
- Keeping fit is also on the cards, Funan will feature a 50-lane climbing feature, street basketball and a futsal court for sporting enthusiasts.
Funan was closed his year and is expected to reopen in the fourth quarter of 2019. Time will tell if the redevelopment will stand the test of time, and bear fruit over the long term.
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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Chin Hui Leong doesn’t own shares in any companies mentioned.