Suntec Mall Phase 3 poised to attract highest rents in mall

Beating refurbished Phase 1 and Phase 2.

Suntec Mall is slated to open its Phase 2 by the end of the 1Q 2014, but it will be the Phase 3 set to launch in 4Q 2014 that will rake in the highest rents, according to a DBS equity research report.

"Phase 3 which is slated for completion in 4Q14 will feature international and high-end fashion retailers. And because the tenants will be mainly specialty shops, we estimate rents for this part of the mall will be highest among the three phases," said DBS.

Phase 3 rents will likely be higher than Phase 2, which was reported to have already achieved 97% pre-commitment rate last quarter (up from c.84%), and Phase 1, which has been undergoing refurbishment up until this February.

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