“We can take some space back. That is in the works, which is why we are not ready to unveil the plan. But definitely it’s a very exciting plan. Our plan is to transform Causeway Point into something of a regional mall. Today, the focus is really about serving Woodlands,” Ng says.
In a recent interview, Richard Ng, CEO of Frasers Centrepoint Trust’s (FCT) manager, promises an exciting asset enhancement initiative (AEI) for Causeway Point, its 420,000 sq ft mall that is next to Woodlands MRT Station. The potential for a rental uplift appears significant. Cathay Cinema vacated Causeway Point, and FCT’s manager has found a temporary tenant that distributes Tamil films to backfill the space.
In addition to the cinema, Metro is an anchor tenant at Causeway Point. “We have been in touch with them. Metro is also trying to change its format, given its recent tie-up with Shinsegae. We can look at working with them, but not in the current format,” Ng says. Metro occupies around 66,000 sq ft. If it vacates, the AEI could look a lot more exciting.
