A Market Repositioning Opinion: Turning Bedok Point's Crisis Into Opportunity

10 years.

I’ve spent my childhood at the former Bedok/Changi cinema area. In 2011 the area became Bedok Point, and for the past 10 years, it’s been a great place to be. That Frasers Property is considering a mixed-use redevelopment means farewell Bedok Point to me.

Bedok Point has always been overshadowed by Bedok Mall. Location is a common explanation. But to me, location should not be a lament, but one of many strategic levers in turning a profit.

Bedok Point has never adequately answered “why should I be there”. For a long time, food was a focus, but that means when it’s not time for food, there’s scarce reason to visit. And then the pandemic hit.

I wish Bedok Point would stay. It has always been this cosy mid-market commercial space at the fringe of Bedok centre in between Bedok Mall and the surrounding HDB shophouses. What is necessary is for Bedok Point to identify the kind of mall it should be, like how Peninsula Plaza became “Little Myanmar” and Katong Shopping Centre the maid agency hub of the east.

Therefore, instead of a mixed-use redevelopment, which might incur development charges for rezoning and plot ratio increase, and which would create an oddly-isolated apartment-class private residence estate in the middle of a sea of HDB blocks, I suppose a reconsideration of Bedok Point as the Bedok child- / student-friendly centre might work better.

Bedok Point already has some of the tenant mix to begin cultivating that brand perception – tuition centre, martial arts studio, art classroom, English learning and others. Past efforts in driving mall traffic like shuttle bus services for the working lunch crowd and weekend atrium events never created a compelling reason for any specific group of people to visit. What if Bedok Point could be the place where parents drop their kids for post-school enrichment activities and the place where students hang out safely and cosily? I would expect Bedok Mall to be less ideal, in terms of psf costs and tranquility. That’s where I see the strategic location advantage of Bedok Point.

And what if students could get free Wi-Fi, food discounts and access to study corners or book study or project discussion pods in the mall? Fill the empty spaces with cooked food kiosks and vending machines. When it’s dinnertime, offer free parking – parents picking children from classes might just dine in the mall.

Sounds like a plan?

This opinion article is contributed by Kwan Bo Wen, Principal Strategist of Nebulex Consulting.

News source: https://www.channelnewsasia.com/news/business/bedok-point-mall-residential-commercial-development-15130546

Note: This article represents the ideas, opinions and observations of representatives of Nebulex Consulting, and is by no means indicative of any form of affiliation to, endorsement of, advertising for or any other relation with the mentioned entities.