Singapore-listed retail and commercial landlord Suntec REIT (SGX:T82U) has revealed that its convention centres at Suntec Singapore remain popular among exhibitors, despite going through a period of Asset Enhancement Initiatives (AEI) and suffering the lost of a key anchor tenant several quarter ago.

Suntec City's anchor tenants now include UNIQLO’s largest outlet in Singapore, H&M’s first outlet in the Marina Bay Precinct and Cotton On’s flagship store

According to an official company statement, Suntec Singapore has hosted a total of 96 events and welcomed 650,000 visitors since opening its doors in June 2013. The REIT has emphasised this to be an affirmation of its status as the preferred Meetings, Incentives, Conventions and Exhibitions (MICE) destination.

“With a busy back-to-back calendar lined up for 2013 and beyond with returning customers like Spikes Asia and new customers like IFLA, Suntec Singapore combines the perfect location and motivated people, to become the preferred place to meet in Singapore and Asia.” commented Arun Madhok, Chief Executive Officer of Suntec Singapore.

Other new highlights include an impressive three-storey high definition digital wall along the external façade, as well as complimentary Wi-Fi and digital signage on the building's facades.

But the work to remake Suntec City is not over as further phases at asset enhancements set to unfold in the following quarters.

Mr Yeo See Kiat, Chief Executive Officer of the Manager, “Today marks the beginning of more exciting developments to come. Upon completion, the Remaking of Suntec City will offer enhanced shopping, dining and entertainment options to both local visitors and tourists alike.”

Units of Suntec REIT closed the trading day 0.65 percent higher, in line with positive sentiments on Asian bourses, to end at S$1.55.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.