CFA Institute Singapore
SINGAPORE (July 25): Frasers Centrepoint Singapore, the strategic business unit of SGX-listed Frasers Centrepoint Limited, has announced that mega development Northpoint City will open its doors to shoppers in the fourth quarter this year.
In a press release on Tuesday, Frasers Centerpoint says the mall is on track to having close to 90% of its retail space leased when it opens in 4Q.
Expected to be the largest mall in Singapore’s northern region, it will house over 400 retail and dining outlets across two retail wings.
With the expected completion of its asset enhancement initiative (AEI) in September 2017, Northpoint Shopping Centre will be integrated into Northpoint City and renamed as its North Wing.
Meanwhile, the new South Wing is scheduled to be ready by the fourth quarter of this year.
Developed by Frasers Centrepoint, the mall will be part of the largest integrated development in northern Singapore.
The 1.33 million sq ft Northpoint City integrated development will include the 920-unit North Park Residences, community spaces, an air-conditioned bus interchange, and an underground retail link with direct access to Yishun MRT Station.
Northpoint City is expected to serve as a lifestyle, recreation, and integrated transportation hub for over half a million residents from Singapore’s northern region.
Christopher Tang, Chief Executive Officer, Frasers Centrepoint Singapore, said: “When we announced the development of Northpoint City back in 2014, we envisioned it to be an integral part of Yishun’s Remaking Our Heartland Programme, as we aimed to revitalise Yishun Centre with its presence.”
Shares of FCL closed 3 cents higher at $1.93 on Tuesday.