Suntec REIT

Suntec REIT: Announced that it is in no rush to lease out space which will be vacated by Carrefour, as the area will be undergoing a major revamp in early 2013. Add that areas occupied by Carrefour, the Rock Auditorium, Eng Wah cinemas and NUSS Clubhouse will also be vacated early next year to make way for new entertainment and lifestyle offerings, including a new cineplex. Phase Two of the renovation works is expected to be completed by end-2013. Experts added that the landlord could also divide the large premises into smaller units to enjoy higher rentals, although the downside is that they could have many tenants to manage and there is also a vacancy risk.