ST: $660 million lifestyle hub to go up at Buona Vista - 10 Sep 07

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Sep 10, 2007
$660 million lifestyle hub to go up at Buona Vista
5,000-seat theatre, shops part of Rock Productions, CapitaLand
project By Joyce Teo, Property Correspondent

COME 2011, a futuristic-looking lifestyle hub with a 5,000-seat
theatre, restaurants, shops, chill-out wine bars and even dance
clubs will emerge in Buona Vista.

Property giant CapitaLand and a church-linked business company, Rock
Productions, announced yesterday that they will jointly develop an
integrated complex in Singapore's one-north science hub at a cost of
$660 million.

CapitaLand's share of the proposed development, including the
ownership of about 1,000 carpark lots, will be about $380 million.

Rock Productions - the business arm of the 16,000- strong New
Creation Church - will invest $280 million.

The complex, which will be connected directly to the Buona Vista MRT
station, will be sited within the 17ha Vista Xchange, the business
service centre as well as lifestyle and cultural hub of one-north.

Designed by Mr Andrew Bromberg of Aedas Hong Kong, it will have
eight levels of civic and cultural space, and four levels of retail
and entertainment space.

The project came about after JTC Corporation last Friday awarded
Rock Productions the tender to build, lease and operate an
integrated civic, cultural, retail and entertainment hub at Vista
Xchange on a 60-year lease at a land price of $189 million.

Rock Productions had spoken to a few partners and decided on
CapitaLand, which entered into an agreement through its indirect
wholly owned subsidiary One Trustee to acquire the hub's retail and
entertainment zone, which has a gross floor area of more than 24,000
sq m.

CapitaLand Retail will also manage the entire development of the
integrated hub.

It is proposing an open concept for the retail and entertainment
zone, which will be spread over two floors above the ground and two
basement levels. The basement levels will house chic tenants that
will include restaurants, cafes, thematic dance clubs, a concept
food hall and a gourmet supermarket.

CapitaLand Retail chief executive officer Pua Seck Guan said the
zone presents a unique opportunity for CapitaLand to extend its
presence to the Buona Vista area.

The zone will cater to the affluent crowd from the nearby Bukit
Timah, Holland and Rochester Park areas, as well as the visitor
catchments from the one-north communities, surrounding estates and
tertiary institutions, he said.

Rock Productions will own and manage the hub's civic and cultural
zone, which has a gross floor area of 30,000 sq m. This zone will
have a 5,000-seat state-of-the-art theatre designed by world renowed
performing arts facility design consultants Artec Consultants and
Bromberg.

Among Artec's best-known projects are the Lucerne Culture Centre in
Switzerland and the concert hall and opera theatre at the Esplanade
here.

Rock Productions has engaged IMG Artists, a global performing arts
management company, to work on the marketing and programming efforts
for the zone.

A major tenant has already been secured.

New Creation Church, which now holds its services at The Rock
Auditorium at Suntec City, will be the anchor tenant of the theatre,
using the space on a large part of Sundays and one mid-week night,
said Rock Productions director Matthew Kang.

Rock Productions also owns and manages The Rock Auditorium and
Marine Cove, the recreational and dining establishment at East Coast
Park.