Macpherson Mall (M2) has confirmed that NTUC FairPrice will be its anchor tenant and ibis Styles its hotel operator when it opens for business in the second half of 2015.
The 53,000 square foot freehold mixed development is located at the junction of Aljunied Road and Macpherson Road, and takes the place of the former Windsor Hotel.
It has three shopping levels above ground and one basement level, and targets the corporate crowd.
The NTUC FairPrice supermarket will be on the mall's second floor, while the nine- storey economy hotel will sit on top of the shopping mall.
Its 298 rooms will be the first in Singapore from ibis Styles, an economy brand owned and operated by French hotel group Accor.
"The mall is within close proximity to international schools, while international MNCs such as Siemens, Infineon, Toshiba and SPH also have business operations in the Macpherson area," said Gerard Guillouet, senior vice-president of Accor Malaysia, Indonesia and Singapore.
Mr Guillouet also believes that the 800 hectares freed up by the Paya Lebar Airbase Redevelopment will "boost the growth of this location as a residential and commercial hub" which ibis Styles can be "an integral part of".
Developer LVND Investments pointed to both the air base and Bidadari New Town as potential drivers of "explosive population growth of residents and office workers".
It hopes to "work with established fast food restaurant chains and other specialty stores" to cater to this demand as "the only shopping mall in the Macpherson vicinity".
More than 40 per cent of M2's strata retail and restaurant units have found buyers since the developer released them for sale in September, excluding anchor tenant units.
Available units range in size from 260 to 3,000 sq ft.
Prices range from $3,300 to $6,000 per sq ft, starting with $1.4 million for a 280 sq ft unit.
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