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     FrontPage Edition: Mon 10 September 2007

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Rock Productions and CapitaLand develop Integrated Hub at Vista Xchange


Rock Productions and CapitaLand Develop Integrated Civic, Cultural, Retail and Entertainment Hub at Vista Xchange, one-north
Rock Productions to own and manage Civic and Cultural Zone and CapitaLand to own and manage Retail and Entertainment Zone
Rock Productions Pte Ltd (“Rock”) was awarded on 7 September 2007 the tender by JTC Corporation (“JTC”) to build, lease and operate an integrated Civic, Cultural, Retail and Entertainment hub (“Integrated Hub”) at Vista Xchange, one-north on a 60-year lease term at a land bid price of S$188.988 million.
The Integrated Hub will comprise a Civic and Cultural Zone, measuring over 30,000 square metres (“sm”) in Gross Floor Area (“GFA”), and a Retail and Entertainment Zone, measuring over 24,000 sm in GFA.
Upon the award of the tender by JTC to Rock, CapitaLand Limited (“CapitaLand”), through its indirect wholly-owned subsidiary, One Trustee Pte. Ltd., entered into a Sale and Purchase (“S&P”) Agreement with Rock to acquire the Retail and Entertainment Zone of the Integrated Hub.
One Trustee Pte. Ltd. is holding the benefit of the S&P Agreement on trust for CapitaLand Retail Singapore Investments Two Pte. Ltd., a wholly-owned subsidiary of CapitaLand Retail Limited (“CapitaLand Retail”).
The Integrated Hub will be developed at a total construction cost of S$660 million. Rock’s commitment will amount to approximately S$280 million.
CapitaLand Retail’s investment will amount to approximately S$380 million, which includes the ownership of approximately 1,000 car park lots at the proposed development. CapitaLand Retail will also project manage the entire development of the Integrated Hub, which is expected to be completed by 2011.
The Integrated Hub will stand out in the one-north precinct with its stunning iconic architecture. Designed by Andrew Bromberg of AEDAS Hong Kong, the development will boast over eight levels of Civic and Cultural Zone, and four levels of Retail and Entertainment Zone, forming the base structure.
The Integrated Hub will be well-served by the Buona Vista and the future Circle Line Mass Rapid Transit (“MRT”) stations. The Integrated Hub will also enjoy direct connectivity to the adjacent Buona Vista MRT station via the Retail and Entertainment Zone on Level 1.
The Civic and Cultural Zone, to be owned and managed by Rock, is envisaged to become the new dynamic art, cultural, meeting, convention and exhibition centre in Singapore. ARTEC Consultants Inc, one of the world’s leading performing arts facility design consultants, will be working on the design with Andrew Bromberg, to ensure that the facility meets the highest quality standards in acoustics, technology and audience experience.
The proposed 5,000-seat state-of-the-art theatre will be the choice venue for touring concert productions, family entertainment and attractions, large scale conferences, launches, as well as corporate and community events.
Secondary performance and event spaces, such as the multi-purpose function rooms and outdoor amphitheatre, will support the main goals of the upcoming art, cultural and convention centre, ensuring that the venue acts as a central hub catering to various cultural and convention groups.
IMG Artists, the pre-eminent global performing arts management company, has been appointed to consult on and develop the strategies for the marketing and programming efforts for the Civic and Cultural Zone.
The Retail and Entertainment Zone, to be owned and managed by CapitaLand Retail, will comprise four levels: two above ground and two basement levels. It will take on an unique, open-concept with a spiral design that allows visitors to take a casual stroll along the gradually gradient spiral walkway to experience the full array of offerings on the various floors.
The Retail and Entertainment Zone will be positioned as a vibrant retail, Food and Beverage (“F&B”), lifestyle, cum entertainment destination of choice for the one-north communities, residents in the one-north vicinity and beyond.
On Basement 2, the tenant mix is expected to include a concept food hall, gourmet supermarket, fastfood and family restaurants, casual café and convenience or other services stores.
Basement 1 will see hip coffee joints, casual dining outlets, café and desert bars, beauty services, lifestyle fashion, fashion accessories and lifestyle gift shops taking root.
Level 1 will be home to lifestyle cafes, bistro, restaurant and wine bars, whilst Level 2 will comprise chill-out wine bars and talk-of-the-town hip and thematic dance clubs.
It is envisaged that the Retail and Entertainment Zone will comprise concept retail, F&B and entertainment outlets which will complement the offerings at the Rochester and Holland Village areas, and successfully replicate the atmosphere at Clarke Quay, the premier riverfront F&B, lifestyle and entertainment precinct in Singapore owned and managed by CapitaLand Retail.
Mr Matthew Kang, Director of Rock Productions Pte Ltd, said,
"The Civic and Cultural Zone of the Integrated Hub at Vista Xchange will be a world-class venue for staging large-scale performances, shows and events. Our extensive research indicates an overwhelming need for a sizeable performance venue, away from the city and wellequipped with state-of-the-art facilities, for concert (Western and Asian) and larger scale family productions in Singapore.
"The proposed 5,000-seat high-tech theatre, backed by the expertise of ARTEC Consultants Inc and IMG Artists, is expected to fulfill the needs of and attract these target performing art and cultural groups. We believe the Integrated Hub will soon become the distinctive social gathering destination which will significantly add to the vibrancy of the one-north precinct and Singapore’s rapidly evolving retail and cultural landscape."
Mr Pua Seck Guan, CEO of CapitaLand Retail Limited, said,
"The Retail and Entertainment Zone of the Integrated Hub at Vista Xchange presents a unique opportunity for CapitaLand to extend our presence to the Buona Vista area in Singapore. Other than catering to the demand of the affluent crowd from the nearby Bukit Timah, Holland and Rochester Park areas, the Retail and Entertainment Zone is expected to benefit from the natural visitor catchments from the one-north communities, surrounding housing estates, as well as tertiary institutions close by.
"The successful repositioning of Clarke Quay endorses our retail property management skillsets beyond typical retail malls to include retail, F&B, lifestyle cum entertainment precincts. We are confident that the unique open-concept Retail and Entertainment Zone, set in a lush green environment, will create a new hip and exciting destination of choice for the art and cultural patrons, professional, academic and residential communities in one-north and people from various parts of Singapore."

Source: News Release 9 Sep 2007

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