Redeveloped Funan mall to be completed in 2019

Funan DigitaLife Mall, which closed this July, will undergo three years of redevelopment works, according to CapitaLand Mall Trust Management on Friday (Jul 22).

This is to enhance the site’s attractiveness as a lifestyle destination in the revitalised Civic and Cultural District in Singapore, according to its press release.

Slated to be completed in the fourth quarter of 2019, the new integrated development will comprise retail, office and serviced residence components measuring approximately 887,000 square feet in total gross floor area – almost double its current size, it said.

CapitaLand Mall Trust Management, the manager of CapitaLand Mall Trust, also announced that CMT’s distributable income for the first half of the year was S$193.9 million, a 3.7 per cent increase over the S$186.9 million for the same period last year.

Distribution per unit (DPU) for the same period was 5.47 cents, a 1.5 per cent increase over the DPU of 5.39 cents for the same period last year, it added.

For the Apr 1 to Jun 30 period, the distributable income was S$97.1 million, a 3.3 per cent increase over the S$94 million for the same period last year. DPU of 2.74 cents for the second quarter was 1.1 per cent higher than the 2.71 cents for the same quarter last year.

Source : Channel NewsAsia – 22 Jul 2016