Why Waterway Point is anchored for success

By Feily Sofian / | January 22, 2016 11:47 AM SGT
Waterway Point rings in visitors on Jan 18 amid a challenging retail environment and stock market mayhem. Its location, next to the Punggol MRT station, makes it the latest transit-oriented development in Singapore. With a net lettable area of 370,824 sq ft, Waterway Point is also larger than a typical suburban mall. These inherent attributes and the catchment profile for Waterway Point could mean a less bumpy ride for its retailers.
Based on our analysis, Waterway Point has an estimated catchment population of 567,357. More than half, or 323,527, are in its primary catchment area. Primary catchment is typically defined as a population base that will frequent the mall because of its proximity and the shorter commuting distance. A secondary catchment population, on the other hand, needs a longer commute and would visit the mall less frequently.
Of the 323,527 primary catchment population, 98% or 316,430 are residents living within the area. The remaining 2% are a transient population comprising those who work there, but may not reside in the area.
The study identified the primary catchment areas as the URA planning areas that are located up to two MRT stations from a particular mall. Secondary catchment areas, meanwhile, are the URA planning areas located three to four MRT stations from the mall, applicable for suburban malls between 200,000 and 400,000 sq ft.
For regional malls bigger than 400,000 sq ft, the secondary catchment areas cover the entire URA planning region where the mall is located. For example, the secondary catchment for Causeway Point, which has a net lettable area of 415,774 sq ft, covers the entire North Region of Singapore. Live-in population was derived from official statistics while transient population was estimated using total occupied stock of office, retail and industrial space in the catchment areas and work space per worker ratio.
Existing catchment for Waterway Point
Catchment type
No. of people
Primary live-in
316,430
Primary transient
7,097
Secondary live-in
222,310
Secondary transient
21,520
Total
567,357

Source: MoM, Singstat, URA, The Edge Property

More to come
The 316,430 primary live-in population for Waterway Point is currently comparable to that for Causeway Point in Woodlands and Westgate in Jurong East. While Waterway Point has a smaller transient or working...