Why developers should envy Mapletree Commercial Trust’s VivoCity

It's not just Singapore's largest mall.

According to Macquarie Research, VivoCity, Mapletree Commercial Trust’s largest asset by valuation, area and income contribution, is a direct beneficiary of the lack of competing retail offerings nearby. Covering NLA of 1.04m sqf, VivoCity is the largest super-regional retail mall in Singapore after Suntec City Mall (0.83m sqf) and Jem (0.82m sqf).

Here's more:

Neighbouring HarbourFront Centre, which is immediately adjacent and connected to VivoCity, caters to a different market at different price points. Overall positioning of the 3-storey 205,000 sqf mall is below VivoCity, and at best can only compete with VivoCity for F&B business.

On Sentosa Island, majority of the retail space is concentrated in F&B and scattered around the area. Although Resorts World Sentosa Integrated Resort offers circa 300,000 sqf of retail and F&B space, most are F&B or high-end fashion.

Further, its target market is largely visitors to the casino, as well as Sentosa’s various attractions and thus unlikely to be directly competing with VivoCity.

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