CapitaLand champions place management in four key Singapore precincts
It is the private developer involved in the largest number of URA’s pilot Business Improvement Districts
Singapore, 17 September 2018 – In line with its credo of ‘Building People. Building Communities.’, CapitaLand will be leveraging its real estate expertise to champion place management in four key pilot Business Improvement Districts (BIDs) that will further enhance the vibrancy of Singapore’s cityscape. This marks the biggest show of support among private developers for Urban Redevelopment Authority’s (URA) push to encourage stakeholders-led place management, which attests to CapitaLand’s leading presence in key commercial precincts across Singapore and its firm commitment to community engagement.
Of the nine new pilot BIDs announced by URA today, CapitaLand is the Chairman of Raffles Place Pilot BID, Co-Chairman of Jurong Gateway Pilot BID and a participant in City Hall Pilot BID. CapitaLand has been chairing Singapore River One, the place manager for the three quays along Singapore River, since the not-for-profit private company was formed in 2012. SRO became Singapore’s first pilot BID under URA’s BID framework in April 2017.
Mr Jason Leow, President (Asia and Retail), CapitaLand Group, said: “Communities thrive and opportunities flourish in dynamic precincts with world-class infrastructure and active placemaking. The URA’s pilot BID scheme is a positive development that creates a valuable platform in promoting ground-up ownership of and participation in precinct improvement initiatives. As the largest developer in Singapore, it is incumbent on CapitaLand to enhance the quality of our built environment by taking the lead in ground-up placemaking initiatives that enhance the attractiveness of the precincts where our properties are located. We are pleased to be making a difference to the community by taking part in the place management of four key precincts, each with its own set of business needs and considerations. We will draw on our experience in developing award-winning real estate products and tap our local knowledge in CapitaLand’s home base to further enliven these precincts with creative placemaking initiatives.”
Raffles Place Pilot BID
Mr Ronald Tay, CEO of CapitaLand Singapore, Malaysia and Indonesia, who is Chairman of the Raffles Place Pilot BID said: “Historically rich with strategic importance, Raffles Place was the birthplace of Singapore’s commercial development. Today, it is the country’s premier business district featuring some of its most prominent landmark buildings. The Raffles Place pilot BID will build on the precinct’s unique heritage to strengthen its appeal, beginning with different stakeholders in the community on innovative placemaking initiatives that will transform Raffles Place into a vibrant world-class hub for work-live-play, where opportunity, creativity and entrepreneurship converge.”
CapitaLand has three properties in the Raffles Place Pilot BID. They are the 42-storey Grade A office building Six Battery Road, the 21-storey HSBC Building and the upcoming 51-storey integrated development CapitaSpring scheduled for completion in the first half of 2021.
Jurong Gateway Pilot BID
Mr Tony Tan, CEO of CapitaLand Mall Trust Management Limited, who is Co-Chairman of the Jurong Gateway Pilot BID, said: “Positioned as Singapore’s western business district, Jurong Lake District – with Jurong Gateway as its key commercial hub – is the precinct to watch. In just a few short years, Jurong Gateway has emerged as the centre of business and leisure activities in Singapore’s west. In view of the Government’s plan to add 20,000 homes and 100,000 jobs in the area, the Jurong Gateway Pilot BID is pleased to embark on an exciting placemaking journey to make the area an even more attractive business and lifestyle destination for residents, working professionals and stakeholders. Our immediate focus areas include improving the social aspects of the common space, maintaining accessibility throughout all stages of the district’s development and enhancing the interaction between the community and businesses with meaningful events and sustainable initiatives.”
CapitaLand has three properties in the Jurong Gateway Pilot BID. They are lifestyle and family shopping mall Westgate, Singapore’s largest outlet mall IMM and leisure and edutainment mall JCube. Together, these three malls offer a comprehensive shopping and lifestyle destination with more than 600 shops across 1 million square feet of retail net lettable area catering to diverse needs.
City Hall Pilot BID
Ms Margaret Khoo, General Manager of Raffles City Singapore, representing CapitaLand in the City Hall Pilot BID, said: “The City Hall Pilot BID is located at the crossroad of heritage, business, politics and culture in Singapore’s Civic and Cultural district. This rich setting offers us plenty of inspiration to organise meaningful activities that will enhance engagement between businesses and the community. We look forward to working closely with fellow stakeholders in the BID to make City Hall an even more attractive live-work-play hub.”
CapitaLand has two integrated developments in the City Hall Pilot BID. The iconic Raffles City Singapore comprises a shopping mall, office tower, convention centre and two hotels; while the upcoming Funan integrated development offers a synergistic combination of retail, office and coliving serviced residence components.
Singapore River One Pilot BID (since April 2017)
Mr Wilson Tan, CEO of CapitaLand Retail, who is Chairman of SRO, said: “Places are only as good as the people living, working and playing in it. The best people who will understand the needs of a precinct are the very people who operate within it. With placemaking still a new concept in Singapore, we must continue to develop a robust business plan with the endorsement of stakeholders, to build a better Singapore River precinct.”
Since its inception in 2012, SRO has seen some success in its place management activities to turn the three quays along Singapore River into a local and international icon. An initiative that has garnered much interest is the annual Singapore River Festival which features performances from international artistes with the Singapore River as a backdrop, drawing visitors to the Boat Quay, Clarke Quay and Robertson Quay areas. CapitaLand owns and operates Clarke Quay, a unique conservation landmark and host to a vibrant mix of over 60 restaurants, bars and entertainment spots.