CUSCADEN Peak Investments is seeing a positive momentum for Singapore retail property. 

Its chief executive, Gerald Yong, told The Business Times: “Retailers do not just look at current market conditions, but look ahead for the next three years.”

He noted that “international and luxury brands have invested substantial capital expenditure to build flagship stores in Paragon, a signal of their confidence and favourable sentiments”.

He added that suburban malls in the group’s portfolio have remained resilient and have shown positive momentum, too.

Cuscaden Peak Investments announced in a statement on Thursday (Nov 2) that it had achieved full occupancy at its newly opened mall, The Woodleigh Mall, in Bidadari estate. The mall is part of an integrated community and lifestyle hub located above the Woodleigh MRT station, and has about 206,000 square feet of net lettable area; a private condominium development there houses 667 residential units.  

Cuscaden Peak Investments – formerly known as Singapore Press Holdings before it was privatised in May 2022 – developed the mall with Kajima Development.

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Besides The Woodleigh Mall, Cuscaden Peak Investments’ ownership interest in other Singapore retail assets include Paragon in Orchard Road, The Clementi Mall and the Rail Mall through Paragon Reit, as well as The Seletar Mall.  

The Woodleigh Mall celebrated its grand opening on Thursday, six months after its soft launch in May 2023. The guest of honour at the event was Minister of State for Trade and Industry Low Yen Ling. The mayor for Central Singapore District, Denise Phua, Cuscaden Peak Investments chief executive Gerald Yong, and Kajima Development chief executive Shuichi Oishi were also present.

“Located in the heart of Bidadari Town, The Woodleigh Mall is nestled among the lush green spaces of Bidadari estate. In line with the Bidadari master plan of developing the estate into a tranquil urban oasis, The Woodleigh Mall has thoughtfully included nature-inspired gathering spaces within it, cleverly integrating these with the surrounding green spaces such as the upcoming Bidadari Park and Alkaff Lake,” said Low.

The Woodleigh Mall has been awarded the Building and Construction Authority’s Platinum Green Mark Award for its sustainability efforts.

The mall caters to millennial families with young children, and there is a “good demand for F&B, enrichment, and healthcare and wellness services”, said Yong. Among the mall’s 160 tenants are Surrey Hills Grocer, which is opening as Singapore’s first grocer and cafe for consumers and pets, FairPrice Finest, Kiztopia, Little Italy and VeganBurg.