JR East metro station outlets opening in Singapore
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East Japan Railway Co. is expanding its operations into Singapore with new JR East metro station stores launching in island’s metro stations.
The firm is planning to set up store clusters at 27 out of the 32 stations on the Thomson-East Coast Line, which will be partially operational by the end of the year. It is the first Japanese railways firm to start-up commercial operations in another country.
The firm’s contract to establish JR East metro station stores along the line was secured via its local unit along with SMRT Experience and store chain operator NTUC Fairprice Co-operative for S$24 million (US$17.3 million) last month. The three partners will trade as Stellar Singapore, in which JR East will hold a 35 percent shareholding.
Under the terms of the agreement, Stellar Singapore will rent 5000sqm of total floor space at the stations under a 16-year lease. The largest single shopping center will cover 1570sqm at Woodlands Station.
Questions & Answers
Q.Which company is expanding its operations into Singapore with new metro station stores?
Which company is expanding its operations into Singapore with new metro station stores?
East Japan Railway Co. Is expanding its operations into Singapore. It is the first Japanese railway firm to start commercial operations in another country, establishing new JR East metro station stores within the island's stations.
Q.How many stations on the Thomson-East Coast Line will have JR East metro station stores?
How many stations on the Thomson-East Coast Line will have JR East metro station stores?
The firm plans to set up store clusters at 27 out of the 32 stations on the Thomson-East Coast Line. This line will be partially operational by the end of the current year.
Q.What is the total floor space Stellar Singapore will rent at the stations?
What is the total floor space Stellar Singapore will rent at the stations?
Under the agreement terms, Stellar Singapore will rent a total of 5000 square metres of floor space at the stations. This rental agreement is for a 16-year lease period.
Q.What is the financial value of the contract secured by JR East's local unit and its partners?
What is the financial value of the contract secured by JR East's local unit and its partners?
The contract to establish the stores was secured for S$24 million, which equates to US$17.3 million. This deal was finalised last month by JR East's local unit alongside SMRT Experience and NTUC Fairprice Co-operative.
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