VivoCity Shanghai is expected to secure tenancies for half of its NLA in the next three months
May 25, 2015, Shanghai, China – Mapletree Investments Pte Ltd (“Mapletree” or “the Group”) today celebrated the marketing launch of its retail development, VivoCity Shanghai. Mapletree’s senior management welcomed key executives of well-established international and domestic retail brands to be part of the award-winning VivoCity franchise in Shanghai. The VivoCity brand is built on the success of VivoCity Singapore - Mapletree’s flagship retail development and Singapore’s largest shopping mall. The name is derived from the word 'vivacity', which alludes to the lively and stimulating experiences that awaits.
Ahead of its completion in 2016, VivoCity Shanghai's premier brand positioning has already attracted tenants ranging from iconic stores to exciting new brands. To date, leases have been signed for about 25% of the mall’s 67,000 square metres of net lettable area (“NLA”). Among the committed tenants, nearly all are set to open flagship stores at VivoCity Shanghai. An additional 30% of its NLA is expected to be filled up in the next three months. The strong response from committed tenants as well as lessees who are at the final stages of negotiations accounted for most of VivoCity Shanghai's anchor units and NLA for F&B, kids entertainment and education facilities.
Strategically located at the heart of the Minhang district's emerging Xinzhuang central business district, VivoCity Shanghai will be a multi-experiential shopping mall that features a vibrant mix of diverse dining options, new brands and concept entrants. The five-storey mall will provide a full range of retail and lifestyle offerings, including 280 storefronts, well-stocked supermarkets and a 4D Cineplex. VivoCity Shanghai will also serve the 1.3 million residents within a five-kilometre radius as well as over 20,000 working professionals in the adjacent Mapletree Business City Shanghai. Spanning 120,000 sqm, the mall's dynamic tenant mix of trendy shops, full-scale food courts, classic brands and a variety of dining selections, will cater to the needs of shoppers of all age groups. Well integrated into the city, VivoCity Shanghai enjoys connectivity with direct MRT access to lines 12 and 5, which is estimated to provide a daily footfall of 200,000 to the mall.
Commenting at the launch ceremony, Mr. Quek Kwang Meng, Regional Chief Executive Officer of China and India, said, “The interconnected but independently-developed VivoCity Shanghai and Mapletree Business City Shanghai, constitutes our largest single investment in China to date, which is a reflection of our ongoing commitment to the China market”.
He added, “Mapletree has already successfully introduced the VivoCity concept to other cities in China – such as Xi’an and Foshan, where the brand is now well-established. VivoCity Shanghai will soon be abuzz with the same excitement, joy and fun the brand is known for in Singapore and its other locations”.
To provide engaging experiences, good design is key to the VivoCity concept. Mall design considerations include incorporating wide open spaces for relaxation, entertainment and tailored services, with the aim to make VivoCity Shanghai a one-stop shopping destination for all. In addition, the mall will feature a Kids’ Club, a VIP Lounge, and be equipped with a smart digital platform for remote booking and easy navigation throughout the whole mall. The mall is also designed with an expansive 10,000 sqm landscaped garden that includes a children’s playground and a modern amphitheatre, which will host an eventful calendar of plays, cultural performances, fashion shows and live concerts for consumers in Shanghai.
Slated for completion in 2016, VivoCity Shanghai promises to infuse the city with vitality, redefining interactive experiences and personalised services for all visitors.
ABOUT MAPLETREE INVESTMENTS PTE LTD
Mapletree Investments Pte Ltd is a leading real estate development, investment and capital management company headquartered in Singapore. Its strategic focus is to invest in markets and real estate sectors with good growth potential. By combining its key strengths as a developer, an investor and a capital manager, the Group has established a track record of award-winning projects in Singapore and delivered consistent and high returns from across various real estate classes in Asia.
As at 31 March 2015, Mapletree owned and managed S$28.4 billion of office, logistics, industrial, residential, retail/lifestyle and mixed-use properties. Presently, it manages four Singapore-listed real estate investment trusts ('REITs') and six private equity real estate funds, which together hold a diverse portfolio of assets in Singapore and throughout Asia. The Group has also established an extensive network of offices in Singapore, China, Hong Kong SAR of China, India, Japan, Malaysia, South Korea, and Vietnam to support its regional expansion. Mapletree’s property portfolio includes award-winning projects in Singapore such as the VivoCity, Mapletree Business City, and Tata Communications Exchange, as well as mixed-use developments in the region such as the Future City and Nanhai Business City in China.
ABOUT MAPLETREE IN CHINA
Greater China is Mapletree’s largest overseas market. China, including Hong Kong SAR, constitutes approximately over S$10 billion of Mapletree’s total owned and managed assets. Mapletree first entered China in 2005 with investments in logistic properties. Our business has expanded since, propelling further investments in logistics, industrial, office, retail, and mixed-use real estate in various Chinese cities, including Shanghai, Beijing, Guangzhou, Foshan, Tianjin, Wuxi, Xi’an, and Zhengzhou, as well as Hong Kong SAR.
Media Contact for Mapletree Business City Shanghai and VivoCity Shanghai
Shanghai Lingfeng Real Estate Development Co., Ltd
Tel: +86 21 6037 8171; +86 1367 197 3738
Media Contact for Mapletree China
Shanghai Mapletree Management Co., Ltd.
Tel: +86 21-2316 7788; +86 1861 682 2246
Mapletree Investments Pte Ltd (“Mapletree” or “the Group”) is pleased to announce that Mapletree Business City Shanghai and VivoCity Shanghai garnered ‘Best Chinese Futura Mega Project’ at the 2014 MIPIM Asia Awards, adding another internationally acclaimed award to the Group’s list of accolades.
Building on the success of two signature Mapletree brands and flagship developments – Mapletree Business City and VivoCity– the Shanghai project will comprise a franchise of both the award-winning Singapore developments. Spanning a total gross floor area of 297,000 sqm at the heart of the emerging Minhang district, Mapletree Business City Shanghai will provide 200,000 sqm of international Grade-A office space, catering to the expansion demand of both MNCs and large domestic companies. It will be further complemented by the adjacent 120,000 sqm VivoCity Shanghai mall offering full suite retail amenities, creating a seamlessly interconnected hub with MBC Shanghai as a place for work, life and leisure.
MIPIM Asia Awards is one of the most prestigious international property awards recognizing the industry’s best and brightest, and rewarding innovation and achievement in various fields. For the 2014 award, 126 projects from 13 countries were evaluated by a panel of 17 industry experts, of which 33 winning projects under 11 categories received this year’s award. Mapletree Business City Shanghai and VivoCity Shanghai is one of two Shanghai projects recognized by MIPM Asia in 2014 for distinction as a well-designed development. The last time when another Shanghai project had received a MIPM Award in the same category was back in 2011.
Commenting on Mapletree’s latest award for its overseas project, Mr Quek Kwang Meng, Mapletree’s Regional Chief Executive Officer for China and India said, “Both Mapletree Business City Shanghai and VivoCity Shanghai feature innovative architecture and excellent design specifications incorporating state-of-the-art technology and sophisticated infrastructure. The MIPIM Asia Award for Best Chinese Futura Mega project not only acknowledges our efforts and capabilities in building excellence, but also marks an important chapter for our expansion across all real estate classes in China.”
Shanghai Lingfeng Real Estate Development Co., Ltd, a subsidiary of Mapletree
Tel: +86 21 6037 8171; +86 1367 197 3738
Shanghai, China – Mapletree Investments Pte Ltd (“Mapletree” or “the Group”) today celebrated the groundbreaking of the Mapletree Minhang Development Project, its largest single investment in China to date worth about RMB 5 billion. The development of the mixed-use commercial centre is in line with Mapletree’s growth strategy in China, and significantly provides further headway to scale up the Group’s presence in the market. Officials from the Municipal Government of Minhang District together with Mapletree’s Board and senior management attended the groundbreaking ceremony.
Building on the success of two signature Mapletree brands and flagship developments – Mapletree Business City and VivoCity – the Mapletree Minhang Development Project will comprise a franchise of both the award-winning Singapore developments. Spanning a total gross floor area of 297,000 square metres (“sqm”), the integrated commercial cum retail development is strategically located within the fast-emerging Xinzhuang business district in Minhang. Being sited at the fringe of Shanghai’s central business district (CBD), the large-scale development will enjoy excellent connectivity to the Hongqiao airport as well as benefit from the accessibility provided by the High Speed Rail Station. Furthermore, being located at the intersection of two new subway lines will provide the Mapletree Minhang Development Project with extensive connectivity to all parts of Shanghai.
Riding the trends of China’s sustained economic growth, continued rapid urbanisation and the resultant decentralisation of concentrated areas, Mapletree seeks to capitalise and respond to the emerging demand for high quality and cost-effective Grade-A office alternatives outside the Shanghai CBD area by catering to the fast expansion needs of both MNCs and large domestic office tenants. Against this backdrop, the Mapletree Business City will provide 200,000 sqm of Grade-A office space, which will accommodate a working population of up to 20,000. It will be further complemented with quality facilities and environmentally sustainable features. At the same time, VivoCity will more than offer full-scale retail, food and beverage, and service amenities to the office tenants of Mapletree Business City. It is also set to be a choiced lifestyle and entertainment destination to over 300,000 residents within a three kilometre radius. The mall will feature over 280 shops, including a mega hypermarket and a cinema and house Shanghai city’s largest open-air rooftop garden which also serves as an amphitheatre for entertainment and relaxation.
Mr Hiew Yoon Khong, Mapletree’s Group Chief Executive Officer said, “With the Mapletree Minhang Development Project, the Group replicates our expertise for mixed-use developments and once again exports our signature brands to China – already established in Xi’an and Nanhai. This attests to the success of Mapletree’s business model as an Asia-focused, real estate developer, investor and capital manager, and also underscores our commitment to our expansion plans across all real estate asset classes in China.”
Greater China is Mapletree’s largest overseas market to date, with a total asset under management (“AUM”) of SGD 5.7 billion, or RMB 28.6 billion as of 31 March 2012. Since establishing a presence in China in 2005, Mapletree's business strategy has advanced from acquiring and developing logistics properties for its capital management platform, Mapletree Logistics Trust, to developing mixed-use residential and commercial properties such as Future City (Xi’an) and Nanhai Business City (Nanhai).
More recently, the Group has boosted its track record in the full value cycle of acquiring, managing and divesting quality real estate to grow. Mapletree acquired Gateway Plaza in Beijing through its sponsored private equity platform, Mapletree India China Fund (“MIC Fund”) in 2010 and subsequently, on its own, Festival Walk in Hong Kong SAR in 2011 and actively improved the occupancy and tenancy of the assets before divesting both to its capital management platform, the Mapletree Greater China Commercial Trust which was listed on the Singapore Stock Exchange in March 2013.
On the real estate development front, the Group is also developing the South Station Enterprise City Station, the first and largest premium business park to be built within Guangzhou South Railway Station economic circle. Together with the Minhang Development Project, Mapletree is poised to continue strengthening its development know-how in China.
The Minhang Development project is jointly developed by Mapletree and MIC Fund. MIC Fund is a dual-country total return fund established to maximise returns by acquiring, developing and realising real estate projects in India and China. With a fund size of USD1.157 billion, MIC fund primarily invests in commercial, residential and mixed-use property developments projects in Tier 1 and 2 cities to harness the urbanisation trend and the increasing consumption of the growing middle-class in India and China. As at 31 March 2012, the fund has been fully invested, with its portfolio comprising six assets – five in China and one in India, well in advance of the expiry of its investment period in April 2013.
The development will be constructed in three phases – Mapletree Business City in Phase 1 and 3, and VivoCity in Phase 2. The development will be the first large-scale commercial and retail development of its kind in the district when completed. Works for Phase 1 is expected to commence in the first half of 2013, and be completed in 2015.
ABOUT MAPLETREE MINHANG DEVELOPMENT PROJECT
Description: Integrated commercial centre comprising Grade-A offices and a retail mall
Location: Xinzhuang Business Area, Minhang District, Shanghai, China
Key property components: Mapletree Business City (Grade-A office space with a gross floor area of 200, 000 sqm, complemented with quality facilities and green, sustainable features) and VivoCity (a one-stop shopping and lifestyle destination mall with a gross floor area of 120,000 sqm (including 17,000 sqm of basement retail space), which features over 280 shops including a supermarket and a cinema and houses an open-air rooftop garden and a children playground)
Land area: 119,000 sqm
Gross floor area: 297,000 sqm
Mapletree Minhang Development Project Media Contact：
Shanghai Lingfeng Real Estate Development Co., Ltd
Tel: +86 21 6037 8171; +86 1367 197 3738