1. Purchase of Iluma Shopping Mall:
The enhancement works at RCS involves the re-configuration of the Basement 1 space. The existing City Hall MRT station to the new Esplanade MRT station via a seamless shopping experience through Basements 1 and 2 of RCS. The Basement 2 link will provide a short underground connection between City Hall MRT station and the Esplanade MRT station. When this connection is completed, there will be three train lines bringing shoppers to RCS.
Of the additional 12,180 square feet (sq ft) of net lettable area (NLA) which will be created in the Basement 2 link, an estimated 63.0% of the area has already been pre-committed as at end-January 2010. The enhancement works will result in CMT incurring capital expenditure of approximately S$33.2 million and are expected to generate additional net property income (NPI) of approximately S$2.7 million per annum. This would enable CMT to achieve an expected ungeared return on investment (ROI) of 8.0%.