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.
http://framehosting.dowjonesnews.com/sample/samplestory.asp?StoryID=2006062105240008&Take=3