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First a coworking area, now retail areas in MRT stations round Singapore.
Japanese railway operator JR East (East Japan Railway Firm) has introduced plans to open retail areas in Singapore MRT stations “as a part of its abroad enterprise growth”.
In response to a report on The Japan Instances, JR East is “aiming to money in on buying energy in Southeast Asia’s richest economic system”.
JR East mentioned on Tuesday (three Sep) that it’s going to open the procuring areas at 27 out of the 32 stations on the upcoming Thomson-East Coast Line (TEL).
The TEL is 43 km lengthy, and has 7 interchange stations which can hyperlink to the East-West Line (EWL), North-South Line (NSL), North-East Line (NEL), Circle Line, and the Downtown Line.
A number of stations on the TEL are set to start operation by the top of 2019.
Toshio Omiyama, Managing Director of JR East Enterprise Growth SEA Pte Ltd, revealed that there are preliminary plans to open procuring areas at three stations “close to the border with Malaysia on the NSL — Woodlands North, Woodlands and Woodlands South — in December”.
The most important procuring space shall be a 1,570 sqm area at Woodlands Station.
JR East received a retail operation contract for S$24 million with SMRT Expertise Pte Ltd, and Alphaplus Investments Pte Ltd, a subsidiary of NTUC FairPrice Co-Operative.
The three corporations shall be establishing Stellar Singapore-Japan Retail Pte Ltd in October to function the retail areas.
Round 5,000 sqm of whole area shall be rented from the Land Transport Authority (LTA) for 16 years, ranging from finish 2019.
Whereas NTUC FairPrice has indicated their plans to open Cheers comfort shops in these areas, the procuring areas “might home some Japanese tenants that additionally function retailers in malls in Japan run by JR East”.
JR East added that they’re the primary Japanese railway operator to develop business amenities at stations abroad.