Active marketing and effective leasing is one of Mapletree’s core strengths.
Active marketing and effective leasing is one of Mapletree’s core strengths. This is further reinforced by the Group’s growing portfolio, which enables Mapletree to coordinate its clients’ leasing needs across Asia and beyond.
Attesting to this is VivoCity, Singapore’s largest retail and lifestyle destination. Since its opening in 2006, the mall has always enjoyed close to full occupancy with 300 tenants over 1 million square feet of net lettable area. Since then, Mapletree has successfully introduced the VivoCity brand to Foshan and Minhang in China. In Vietnam’s Ho Chi Minh City, SC VivoCity officially opened in September 2015 after the mall began operations in April 2015, where first-to-market brands such as Harley-Davidson Black Label Saigon South and Vietnam’s first IMAX cinema were introduced, among the mall’s vibrant mix of over 150 establishments. As at 31 March 2016, SC VivoCity has achieved close to 90% strong occupancy, reflecting the Group’s continued strength in active marketing and effective leasing.
Mapletree’s marketing experience and extensive tenant base has also enabled the Group to attract many MNCs to relocate their regional headquarters at its flagship Mapletree Business City in Singapore. Completed in April 2016, the second phase of Mapletree Business City, MBC II is expected to meet the growing demand for quality space in fringe city locations. Strong leasing interest has been registered since marketing for the development commenced. Across the Group, the Mapletree REITs too achieve high average occupancy rates across their portfolios.