Iluma
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| Iluma | |
 Taken on 20 April, 2008 |
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| Facts and statistics | |
|---|---|
| Location | Bugis, Singapore |
| Opening date | 4th quarter 2008 |
| Management | Jack Investment |
| Owner | Jack Investment |
| No. of stores and services | 150+ |
| Total retail floor area | 191,580 sq ft (net-lettable area) |
| Parking | 325 |
| No. of floors | 10 |
Iluma is an upcoming 10 story[1] shopping mall which will be managed and owned Jack Investment. The mall is located within the Bugis district and is planned to be operational by the fourth quarter of 2008. With a budget of S$100 million, the country's first urban entertainment centre will be targeted at the young professionals in their 20s and 30s. The is able to cater for up to 60 - 80 thousand consumers on a daily basis once the mall is open.[2]
The 8921 sq m site along Victoria Street and opposite the Bugis Junction and Hotel Intercontinential was previously put on a tender bid conducted by the Urban Redevelopment Authority. Jack Investment then won the tender in 2005 for the Iluma site with a bid of S$46 million.[1] Jack Investment has pumped S$160 million for the budget of Iluma, 60% more than its initial budget of S$100 million.[2]
In line with the URA's plan for Bugis and the current high human traffic between Bugis Village and Bugis Junction, the opening of Iluma is expected to draw more patrons to the Bugis area as Iluma is visioned to set the Bugis arts and entertainment district alight. Iluma will be also prepared to host a series of art and musical performances within the mall's dedicated event plaza. Hence, the mall can be considered as the long awaited missing piece in the Bugis arts and entertainment district’s jigsaw puzzle.[3]
[edit] Facilities
Being an icon for the Bugis area, the mall will play on a theme of light and illumination, having high-tech features such as a light-media wall that will be envelop the convex part of the facade and brightly-lit billboards will scatter across its flatter sides, unlike those in the Times Square. Its theme was inspired by its proximity to arts venues and tertiary institutions.[4] The mall will also have 27 191 sq ft of column-free space which is suitable for themed restaurant and concept-dining.[3] The second storey of the mall will also be connected to Victoria Street via a pedestrian overhead bridge.[1] The mall also has a car park with 325 lots.[4]
[edit] Notable tenants
With a net-lettable area of 191 580 sq ft,[4] more than 150 outlets[1] are expected to be open in Iluma, with a mix of retail and entertainment outlets, with an emphasis on performing and exhibition space.[4] 60% of the area will be used for entertainment outlets.[2] Although the tenants have not been confirmed[1] except for a flagship cineplex with 9 screens owned by Film Garde, which will be open in the late-2008,[5] there will be no supermarket operator in Iluma, unlike typical shopping malls in Singapore.[1] The mall is likely to include dance clubs to attract more patrons who enjoy the night life.[3] Rents are expected to fall between S$10 to S$30 per sq ft per month,[3] with the highest rent are said to have reach S$50 per sq ft per month.[1]
[edit] Notes and references
- ^ a b c d e f g "Jack Investment to open $160m mall in Bugis", The Straits Times, November 21, 2007.
- ^ a b c "Jack Investment unveils Iluma entertainment project at Bugis", Channel NewsAsia, November 21, 2007.
- ^ a b c d Knight Frank. "Real Estate Highlights - Singapore". Press release.
- ^ a b c d "New mall to set Bugis aglow", TODAYonline, November 22, 2007.
- ^ FILMGARDE AT LEISURE PARK, KALLANG. Retrieved on 2008-06-07.
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