General S-REITs Discussion Thread

[Genosis]

u all got visit Jcube at jurong east or not?

going to become ghost mall soon, u all will worried mah?

I guess it is common for cmt and fct to have one bad apple in their portfolios.

Cmt got JCube

Fct got bedok point

 

[Genosis]

Imm not that bad at least got ppl jcube almost no ppl except for first floor

IMO, a lot of retail space wasted by that ice skating ring....

 

[Average]

IMO, a lot of retail space wasted by that ice skating ring....

Jem and IMM draw all the crowd liao. Wat other stores can jcube introduce?

Sent from your gal nex door using GAGT

 

[Average]

U all rmb illuma bugis? It was ghost mall until capmall took over and added uniqlo. Now become very bustling.

Sent from your gal nex door using GAGT

 

[Genosis]

Jem and IMM draw all the crowd liao. Wat other stores can jcube introduce?

Sent from your gal nex door using GAGT

Tuition centers maybe. I saw quite a few tuition centers in the vicinity...

 

[Genosis]

U all rmb illuma bugis? It was ghost mall until capmall took over and added uniqlo. Now become very bustling.

Sent from your gal nex door using GAGT

That new bridge connecting bugis junction and bugis+ is very useful

 

[zzxiaoboizz]

which reits got exposure to china?

crct, mgct, fortune

any more?

bhg reit, all in china one

 

[garytj89]

Yea the overhead bridge is nice. But other than lunchtime bugis+ not very crowded. Shud redevelop jcubeto become educational hub lol

 

[coldedplay]

u all got visit Jcube at jurong east or not?

going to become ghost mall soon, u all will worried mah?

Not really ! When was the last time you visited this two malls?

I'm quite surprise that both malls are drawing larger crowds nowadays. I do frequent both malls.

Jcube is revamping to a "teenagers" mall. The second level seems to be converting into a mini bugis street. Playnation and deserts stalls occupying the used to be unwanted spaces. Lots of F&B eateries that are popular and affordable for the teenagers (eg. Ashton, 18Chef, Saizeriya). The teenagers crowd there is growing qucikly in numbers.

IMM is revamping into a factory outlet mall. You will be surprise with the crowds there too.

 

[coldedplay]

Last month i go jcube
B1 some outlets gg
Food court at peak also less than 1/3 full

Level 2 for teens the small shops some gg already
MAybe 10-20% closed down

Level 5 escalator out, left walk towards kfc
Previous all 3 major fnb all gone, was ice cream and jap/western food i think... Now empty

Occupancy rate maybe 80% or less for jcube and declining... Some stalls they canno rent out they renovate to put seats or what

If u are CMT shareholder i strongly advise u go JCUBE to take a walk... I no bluff u

Yup ! You mentioned last month. I frequent these areas as I live around Jurong.

I'm not a CMT shareholder, I'm FCT shareholder I'm not speaking up for CMT, I'm just sharing what I'm experiencing in my frequent visit to Jcube and IMM. They are not like a ghost town anymore. Don't spread fear

Yes, there was a period of time I thought Jcube was a goner. It was a ghost town like you mentioned. But now, it's much more vibrant and lively. I think Capmall Trust management is really prudent and doing a good job in quickly revamping each shopping mall to a niche aspect of it's own.

Jcube - Teenagers
Westgate - High end Target audience / Family oriented
IMM - Factory Outlet sales & F&B for office workers

With the erection of the J-walk, all shopping malls (IMM, WestGate, JEM, Jurong Hospital, Big Box) are now inter-connected and very accessible. Previous years, IMM can only be access from Jcube with a shuttle bus. Plus, the completion of Jurong Hospital is going to boost more crowd in the heart of Jurong.

Now everything can be found in the heart of Jurong. People in the west may not need not travel down to town anymore. It's an Entertainment, F&B, Shopping, Kids & Healthcare Hub.

 

[micromousez]

In CMT management we trust.. Lol
See their track record for past yrs.. No fear..

1 or 2 bad apple is acceptable..

Vested in CMT

 

[Jazzbie]

Yup ! You mentioned last month. I frequent these areas as I live around Jurong.

I'm not a CMT shareholder, I'm FCT shareholder I'm not speaking up for CMT, I'm just sharing what I'm experiencing in my frequent visit to Jcube and IMM. They are not like a ghost town anymore. Don't spread fear

Yes, there was a period of time I thought Jcube was a goner. It was a ghost town like you mentioned. But now, it's much more vibrant and lively. I think Capmall Trust management is really prudent and doing a good job in quickly revamping each shopping mall to a niche aspect of it's own.

Jcube - Teenagers
Westgate - High end Target audience / Family oriented
IMM - Factory Outlet sales & F&B for office workers

With the erection of the J-walk, all shopping malls (IMM, WestGate, JEM, Jurong Hospital, Big Box) are now inter-connected and very accessible. Previous years, IMM can only be access from Jcube with a shuttle bus. Plus, the completion of Jurong Hospital is going to boost more crowd in the heart of Jurong.

Now everything can be found in the heart of Jurong. People in the west may not need not travel down to town anymore. It's an Entertainment, F&B, Shopping, Kids & Healthcare Hub.

Latest qtrly results state Jcube's occupancy at 83% and -14% rental reversion though. As a west-sider, I also seldom head there and prefer to go IMM and Jem for sub-urban retail needs. Entertainment (i.e. movies) will usually head to town or other shopping malls with GV.

But Jcube is in such a good location (potentially prime with the development of JE as the next commercial hub), it is hard to see it failing too badly under CMT's management. And it is such a small % of CMT's portfolio that I don't think is worth putting too much consideration as an investor. Similarly for FCT with Bedok Point too.

 

[Perisher]

Yup ! You mentioned last month. I frequent these areas as I live around Jurong.

I'm not a CMT shareholder, I'm FCT shareholder I'm not speaking up for CMT, I'm just sharing what I'm experiencing in my frequent visit to Jcube and IMM. They are not like a ghost town anymore. Don't spread fear

Yes, there was a period of time I thought Jcube was a goner. It was a ghost town like you mentioned. But now, it's much more vibrant and lively. I think Capmall Trust management is really prudent and doing a good job in quickly revamping each shopping mall to a niche aspect of it's own.

Jcube - Teenagers
Westgate - High end Target audience / Family oriented
IMM - Factory Outlet sales & F&B for office workers

With the erection of the J-walk, all shopping malls (IMM, WestGate, JEM, Jurong Hospital, Big Box) are now inter-connected and very accessible. Previous years, IMM can only be access from Jcube with a shuttle bus. Plus, the completion of Jurong Hospital is going to boost more crowd in the heart of Jurong.

Now everything can be found in the heart of Jurong. People in the west may not need not travel down to town anymore. It's an Entertainment, F&B, Shopping, Kids & Healthcare Hub.

Buying CMT!

 

[sandwicher]

Yup, in trust I have for CMT's management. They've shown their ability to aggressively adapt and change their strategy to revive any ailing malls.

It's quite amazing how they're trying to differentiate the 3 malls in Jurong. Most mall managements simply just replicate all their malls (i.e. they all look the same!).

CMT is trying to be special. Even Asia Malls is copying CMT's coveted Capitastar system.

I was once "worried" too when I visited Jcube, but not anymore.

 

[sandwicher]

That location is way much better than IMM. I wonder if it is due to too high rents. If not, that place should be filled. I wonder if retail reits are increasing their rents so high that it raises the costs of living for consumers and the tenants' employees.

Well Straits Times (or some other newspaper) did a survey about a year back and revealed that the retail rates psf for reits and non-reits showed no significant variances.

So nope, Singaporeans' suspicion on REITS making cost of living expensive ought to be squashed by that data.

 

[lockks]

Yea the overhead bridge is nice. But other than lunchtime bugis+ not very crowded. Shud redevelop jcubeto become educational hub lol

Bugis+ is quite crowded compare to the past.

 

[Darkzi0n]

Well Straits Times (or some other newspaper) did a survey about a year back and revealed that the retail rates psf for reits and non-reits showed no significant variances.

So nope, Singaporeans' suspicion on REITS making cost of living expensive ought to be squashed by that data.

Got source? Not sure if it is the same one I know... If it is, the compaison is flawed.

Anyway, u Sld be careful with all the statistics and studies newspaper publish. Afterall, most reporters are not technical expert.

 

[sandwicher]

Got source? Not sure if it is the same one I know... If it is, the compaison is flawed.

Anyway, u Sld be careful with all the statistics and studies newspaper publish. Afterall, most reporters are not technical expert.

https://www.mti.gov.sg/ResearchRoom/SiteAssets/Pages/Economic-Survey-of-Singapore-First-Quarter-2014/FA_1Q14.pdf

Found it

 

[Tooi Kono Machi De]

Need some recommendations from you guys...Looking to get my 1st retail REIT and Im looking at either FCT or CMT...

FCT is currently trading below its NAV so it makes sense to probably go in that 1st but would like to know if there are any key differences between the 2 REITS besides the obvious locations and both REITS each having a couple of "burden" malls.

 

[Darkzi0n]

https://www.mti.gov.sg/ResearchRoom/SiteAssets/Pages/Economic-Survey-of-Singapore-First-Quarter-2014/FA_1Q14.pdf

Found it

yes, that's the one i was toking about. a key limitation of the study is the lack of comparable REIT and non-REIT malls within the same geographical location. In the study, they used distance to key amenities (e.g. MRT) to control for the geographical location. However, being 300m away from woodlands MRT is probably very different from being 300m away from Orchard MRT.