Tekka Place Marks Structural Completion with Topping Out Ceremony; Lum Chang-LaSalle Joint Venture’s Integrated Development Set to Open by end 2019

SINGAPORE (March 01, 2019) — Tekka Place, an upcoming hospitality-and-retail integrated development comprising a ten-storey main block and seven-storey annex block with rooftop deck at 2 Serangoon Road, is on schedule for completion by the end of the year. It celebrated the milestone at the topping out ceremony at the site today graced by Minister for Communications and Information, Mr S. Iswaran.

From left to right: 
Mr Rajachandra Kumar, Chairman of the Little India Shopkeepers and Heritage Association (LISHA); Mr Tan Wey Pin, Managing Director, MD, Lum Chang Building Contractors; Mr Raymond Lum, Executive Chairman, Lum Chang Holdings; Mr S. Iswaran,  Minister for Communications and Information, Singapore; Mr Mark Gabbay, CEO and Chief Investment Officer - Asia Pacific, LaSalle Investment Management; Mr Kelvin Lum, Director, Lum Chang Holdings; Mr Kevin Goh, CEO, Ascott International
 

 

Construction of the development, awarded by the Lum Chang-LaSalle joint venture to Lum Chang Building Contractors, commenced in mid-2017. With structural works now concluded, the developers will focus on the architectural and services works of the development, in preparation for opening in the fourth quarter of 2019.  
 
By then, this newest development at the gateway to Little India, will not only cater to the needs of nearby residents, office workers and commuters of both the North East and Downtown MRT lines, its housing of the new Citadines Rochor serviced residences, will also attract new international visitors to this cultural and heritage precinct. Its completion is timely given that Singapore tourism experienced its third consecutive year of growth, where visitor arrivals grew 6.2% in 2018 to reach 18.5 million, and numbers are set to grow in 2019 [1].    
 
As of today, close to 50% of the net lettable retail space in the integrated development has been committed or is under advanced negotiations. Mr Kelvin Lum, Director at Lum Chang Holdings and spokesperson for the joint venture, said: “We are excited about the myriad of possibilities that Tekka Place will bring to Little India. Even though we have been approached by reputable local and international retail and F&B brands, we are selective in curating Tekka Place’s retail mix to both reflect and build on the unique cultural identity of the Little India heritage precinct, and to complement the shopkeeper businesses in the area.”  
 
Occupying over 10,000 square feet in the mall, is XinTekka, a new food hall concept by Mr Andrew Tan, the veteran restauranteur and F&B consultant who brought fresh concepts such as PasarBella and the multi-concept Japanese eatery, Eat at Seven, at Suntec City, to Singapore. Offering a spread of local culinary favourites with a twist, XinTekka is set to be Singapore’s newest dining destination.  
 
Mr Andrew Tan said, “XinTekka is a platform to showcase local food and products, past and present. It will offer reinterpretations of traditional local dishes that will renew our love for our iconic local food. It aims to create an eclectic, walkable urban adventure, with something for everyone while simultaneously serving as an incubator for local talent and independent start-ups.”  
 
As part of its commitment to integrate with the Little India community, the joint venture has been actively participating in events organised by local stakeholders. For example, on top of sponsoring the Deepavali and Ponggol celebrations at Little India, the developers have also committed to a three-year main sponsorship of Art Walk Little India, an event organised by the Singapore Tourism Board (STB) and LASALLE College of the Arts.  One aspect of the sponsorship involves artists from the College producing an artwork and a wall mural for installation at Tekka Place to commemorate its official opening.  
 
Said Mr Rajakumar Chandra, Chairman of the Little India Shopkeepers and Heritage Association (LISHA), “Since the start, the owners have been proactively engaging LISHA, seeking our feedback and providing regular project updates. We very much look forward to the forthcoming completion of Tekka Place, which will add to the revitalisation of the precinct as well as the dynamism of Little India.” 
 
[1] Source: Singapore Tourism Board media: Third Consecutive Year of Growth for Singapore Tourism Sector in 2018, dated 13 February 2019 

 

About Tekka Place  

Boasting the most strategic location in Little India, Tekka Place is set to be the new face of an area rich in culture, yet offering the best of modernity. Comprising a 10-storey Main Block and 7-storey Annex Block, the integrated development includes 320 serviced residence and an outdoor rooftop area for delightful F&B choices, along with a diverse mix of 80 curated retail outlets. In partnership with the Singapore Tourism Board and local associations, Tekka Place will also celebrate the rich heritage of the area with a space dedicated for events and activities. For more news and information, visit www.tekkaplace.sg. 
 
 
About Lum Chang Holdings Limited  

Lum Chang Holdings Limited was founded in the 1940s and has been listed on the Mainboard of Singapore Exchange since 1984. With its origin in construction, the Group has since evolved and grown to include businesses in property development and investment. Its construction projects span the spectrum of the industry and includes multibillion dollar civil, building and infrastructural projects both locally and overseas, while its property development portfolio includes exclusive addresses in Singapore prime residential districts and West Malaysia’s choice residential areas. For more news and information, visit www.lumchang.com.sg 

About LaSalle Investment Management 

LaSalle Investment Management, Inc. (together with its global investment advisory affiliates, “LaSalle”) is one of the world’s leading real estate investment managers. LaSalle on a global basis manages approximately $60.5 billion as of Q3 2018 of private and public equity and private debt investments. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. LaSalle Investment Management, Inc. is a wholly-owned, operationally independent subsidiary of Jones Lang LaSalle Incorporated (NYSE: JLL), one of the world’s largest real estate companies. For more information please visit www.lasalle.com

This information is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made by means of a private placement memorandum. Past performance is not indicative of future results.

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