REIT ASIAPAC
Photo : Jem facade
The office component in Jem is fully leased to the Ministry of National Development with a long weighted average lease expiry of 24 years , providing strong , stable cash flow for our unitholders .
Both office properties at Jem and Sky Complex are decentralised and well served by public transportation .
Since the onset of the COVID-19 pandemic , we have launched a suite of in-app offerings such as flash sales , festive games and contactless redemption of promotional mechanics . These inapp offerings , in addition to the communications on the various social channels , app push notifications and regular themed eDMs ( electronic direct mails ) to our database , help extend tenant brand communications .
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What has the impact of COVID been for retail , and do you see a recovery after COVID or is the digital shift more permanent ? How is LREIT adapting to the digital shift ?
We are also expanding cross-collaborative partnerships with hospitality , F & B ordering and e-payment brands to offer lifestyle rewards and experiences to our shoppers in a bid to encourage recurrent spend and footfall .
We cannot ignore how COVID-19 has accelerated the trend of online shopping . Retailers are compelled to recreate their instore customer experience and rapidly adapt their marketing strategies to build brand affinity . We have pivoted quickly to capitalise on new customer lifestyle demands and enhance our experiential offerings to increase customer engagement .
We have ongoing tie-ups with e-commerce platforms that offer campaigns as an avenue for exposure and sales for our tenants . These in-app offerings and campaigns are well received by shoppers as well as our tenants . In 2020 , the number of Lendlease Plus memberships increased more than 45 % year-on-year .
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