Scheduled to be completed by 2018, Northpoint City will be the property firm’s largest mall in northern Singapore.
By Lee Meixian
The Business Times
Aug 2-3, 2014
AS early as September last year when Frasers Centrepoint made a stunning S$1.4 billion bid for a prime Yishun plot – and won by a 47 per cent margin – market watchers had speculated that the developer had corporate strategic
reasons for wanting the plot, that perhaps it had plans to integrate the new mixed-use building with its existing Northpoint mall.
They were right. Frasers Centrepoint yesterday unveiled the amalgamated result, called Northpoint City and scheduled for completion by 2018.
Northpoint City will be the largest mall in northern Singapore with 850,000 sq ft of gross floor area (GFA) and over 500 retail and dining options, more than double the current offering at Northpoint. In fact, the new
retail wing is even larger than the existing Northpoint which has only about 365,000 sq ft GFA.
Northpoint City will also have Singapore’s first Community Club (CC) to be located in a shopping mall, which also makes it the first CC to be fully air-conditioned.
It will also contain an integrated transport hub with a bus interchange and a new shopping underpass to Yishun MRT Station; all these are expected to draw pedestrian traffic into the mall.
Northpoint mall is owned by Frasers Centrepoint Trust, but it is not known if the extension will likewise be injected into the suburban retail Reit.
The residential segment of the building, called North Park Residences, will comprise 12 blocks of 920 homes, ranging from studios to five-bedders. Consultants had earlier estimated that apartments here could be launched at
prices ranging from S$1,350 to S$1,450 per square foot – rather hefty for a Yishun condo.
At the launch yesterday, Group CEO Lim Ee Seng said Frasers Centrepoint has built very strong ties with Yishun since 1992 when it opened Northpoint Shopping Centre, Singapore’s first heartland shopping mall.
“We have not only been setting trends with Northpoint, we have also been bonding with Nee Soon residents. We actively support social and community events, including National Day celebrations and charity initiatives
such as Rice for a Good Cause.”
He also gave assurance that construction works at Northpoint City will aim for minimum disruption to nearby residents.
This article was first published on August 2-3, 2014.
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