Singapore-listed Starhill Global REIT's (SGX:P40U) Ngee Ann City is the country's most popular mall among shoppers during the Great Singapore Sale (GSS).
|Starhill Global REIT’s stake in Ngee Ann City comprises four strata lots representing 27.23 percent of the total share value of strata lots|
This is according to a survey of 750 respondents conducted by Groupon Singapore which showed that 15 percent of shoppers picking it the mall over the rest. It is followed by CapitaMall Trust's Orchard Ion in second place and Mapletree Commercial's Vivocity along harbourfront.
(Correction 6 July 2013. Reader Paul has alerted us to the error above. Orchard Ion is a joint development between CapitaMalls Asia and Sun Hung Kai Properties, not CapitaMalls Trust as reported above. Thanks Paul for pointing it out. )
Located along Singapore's premier shopping belt, Ngee Ann City sits on the one of the busiest strips of Orchard Road while commanding the lion's share of pedestrian traffic. The building's anchor tenant, Takashimaya Shopping Centre, is popular among tourists and Singaporeans alike.
Last June, REITSWEEK reported that Ngee Ann city has secured a renewal rent commitment for a period of 12 years from anchor tenant Toshin Development Singapore. The renewal rent of twelve years is for its Ngee Ann City property located along Orchard Road in which Toshin currently occupies all retail areas, except level five, as master tenant.
Units of Starhill Global REIT are currently trading unchanged from its previous closing day of S$0.885 on the Singapore Exchange.