SingPost to develop Singapore’s first shopping mall with e-commerce logistics services
Singapore Post (SingPost), has today (28 October) announced the development of Singapore’s first shopping mall that offers a complete suite of eCommerce logistics solutions. According to SingPost, the new retail mall at Singapore Post Centre (SPC) will provide “online e-merchants and offline brick-and-mortar shops all under one roof.”
The online shopping through e-merchants will include in-shop online ordering and flexibility in delivery and pickup timings.
A groundbreaking ceremony for the new facility was held at SPC today and the retail mall, which will offer about 25,000 square metres of retail space, is scheduled to be completed around mid-2017.
The construction cost is about S$150 million, which includes upgrading amenities and façade for the adjoining office building.
Lim Ho Kee, Chairman of SingPost, commented: “Ever since our IPO in 2003, SingPost has always sought to maximise the returns to our shareholders by realising the full potential of our assets – from human capital to physical assets and resources. The redevelopment of the retail mall at SPC is part of our efforts to extract maximum value from our property portfolio and support our accelerated transformation from Singapore mail to global ecommerce logistics.”
Dr Wolfgang Baier, Group Chief Executive Officer of SingPost, added: “SingPost is building a unique and disruptive concept – converging online and offline – to gain maximum customer benefits. With the new retail mall at SPC, consumers can enjoy the best of both worlds – online and offline – while businesses can potentially cut costs and focus on enhancing customer experiences. This is an important shift in mindsets as well as the retail and eCommerce landscapes. The convergence of online and offline will bring exponential benefits to consumers and businesses – therefore we view this as ‘O²’ (O-squared) instead of
O2O (Online-to-Offline). The SPC O² retail concept puts consumers at the heart of this
evolution, allowing them to have greater retail options and more convenience.”
