It is due to reopen in mid-2019 as an integrated development comprising retail and office components as well as lyf Funan Singapore, the Singapore flagship of The Ascott Limited’s lyf co-living serviced residence.
The retail and office components of Funan are slated to open in 2Q19, followed by the serviced residence in 4Q19.
Committed office tenants include payment company, co-working space WeWork, as well as childcare services and early education provider, Trehaus.
“We are heartened that Funan’s strong value proposition has been well-received by a variety of office tenants that equally thrive on innovation. With a high commitment of 98%, Funan’s diversified and quality office tenant base will progressively contribute earnings to CMT from 3Q 2019,” says Tony Tan, CEO of the trust’s manager.
Units in CMT closed 2 cents higher at $2.45 on Tuesday, while shares in CapitaLand were 3 cents up at $3.57.
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