Over 75% Of Shops At Marina Bay Sands Let

Source : The Business Times, August 20, 2009

Chanel - the first tenant announced - will open two-floor, 7,600-sq-ft boutique

MORE than three quarters of the shops at the Marina Bay Sands (MBS) integrated resort have been let, the resort's management said yesterday.

Large-scale retail: The Marina Bay Sands integrated resort has about 300 shops and 800,000-plus square feet of retail and restaurant space. Its tenants will include international designer brands and emerging labels

The US$4.5 billion resort, set to open next year, has about 300 shops and 800,000-plus square feet of retail and restaurant space. About 50 per cent of retail space will be up and running when the first phase of the project opens in early 2010, and 80 per cent of the retail space that will be open in this phase has already been let, MBS said yesterday.

It also said French fashion house Chanel will open a 7,600-sq-ft boutique in the Marina Bay Sands Shoppes - the first tenant announced.

'We have secured commercial terms for over 75 per cent of Marina Bay Sands Shoppes,' said David Sylvester, vice-president of retail for Asia at US-based Las Vegas Sands, which is developing the resort. 'We have enjoyed enthusiastic responses from retail tenants all over the world. Part of our attraction is our prime location - Marina Bay Sands Shoppes will bring large-scale retail to Singapore's central business district for the first time.'

Tenants will include a mix of international designer brands and emerging labels, Mr Sylvester said.

Chanel is excited to be part of the Marina Bay Sands concept, said Vincent Shaw, president of Chanel Asia-Pacific: 'It is a great opportunity to join the ultimate house of luxury with a truly innovative and creative retail environment. Singapore has a young, progressive and energetic retail scene.'

The concept boutique, which will be spread over two floors, will be designed by New York-based architect Peter Marino, the man behind the black-and-white signature design of Chanel's boutiques worldwide.

The MBS boutique will showcase Chanel's ready-to-wear women's clothing and footwear, and accessories such as bags, eyewear, costume jewellery and fragrance and beauty products.