Clarke Quay is extending its appeal from a nightlife attraction to a day-and-night destination with an asset enhancement initiative.
Singapore’s iconic riverfront dining and lifestyle hub, Clarke Quay, owned by CapitaLand Integrated Commercial Trust (CICT) and managed by CapitaLand Investment Limited (CLI), is extending its appeal from a nightlife attraction to a day-and-night destination with an asset enhancement initiative (AEI).
The scope of the AEI includes improving the daytime thermal comfort of the property’s inner streets, introducing tenants with an exciting blend of lifestyle and F&B concepts that best utilise the reinstated godown typology of the conserved warehouses at Block B, enhancing the selection of day-and-night dining options, updating the outdoor refreshment areas (ORAs) and working with tenants to make the property a pet-friendly attraction. Popularly known as “CQ” for short, the property has added its initials to its name and will be marketed as “CQ @ Clarke Quay” locally and internationally to reflect its modern interpretation of Clarke Quay’s rich heritage.
Mr Tony Tan, CEO of the manager of CICT, said: “Along with acquisitions and divestments, AEIs are part of CICT’s multi-pronged portfolio reconstitution strategy to rejuvenate and create more value in our portfolio. The repositioning of CQ @ Clarke Quay is a timely move that will broaden its appeal to families in tandem with the urban renewal of the Singapore River precinct to incorporate more leisure amenities and residential developments, such as the 696-unit CanningHill Piers sited adjacent to CQ @ Clarke Quay. In addition, the property income is expected to be sustainable on a stabilised basis post-pandemic and after the AEI. We are also pleased to take this opportunity to upgrade the green rating of CQ @ Clarke Quay, upon which all 21 properties in our Singapore portfolio would have achieved a minimum rating of BCA Green Mark Gold.”
