The Urban Redevelopment Authority (URA) on Tuesday (Jun 30) released detailed sales conditions for the second commercial site at Woodlands Square. The land parcel is available for sale under the Reserve List of the first half 2015 Government Land Sales (GLS) Programme. The second commercial site will be in the Woodlands Regional Centre and will sustain the development momentum of the precinct as a key...
Retail Space
Park Mall will be redeveloped into a commercial development comprising two office blocks with an ancillary retail component, the building's owner said on Monday (Jun 29). This follows the sale of the office and retail complex at Penang Road near the Orchard Road shopping belt for S$411.8 million, Suntec Real Estate Investment Trust (Suntec REIT) said in a statement. The new buyer is a joint venture...
Metro will shut its Sengkang department store at Compass Point as the lease is expiring in August and will not be renewed, ending a 12-year association with the mall. "On the exact date of closure, Metro's management is still working on the matter," a Metro spokesman said in response to a query from Channel NewsAsia. He said Metro would like to continue serving residents in the Sengkang area, but...
A row of 11 strata units in Singapore Shopping Centre (SSC) along Orchard Road has been put for sale by expression of interest. The units cover 7,061 square feet (sq ft) of shop/office space and make up close to half of the third floor in the mall. SSC is a seven-storey commercial development with a basement carpark located at 190 Clemenceau Avenue. In a statement on Tuesday (Jun 2), its...
Private healthcare provider Raffles Medical Group will open a new medical centre at Shaw Centre in June to bring a full range of medical and specialist services to patients in the Orchard Road area. The announcement came as the healthcare provider booked a net profit of S$15.1 million for the first quarter of 2015. This marks a 3 per cent growth from the same period a year ago. Raffles Medical Group...
Local mall VivoCity on Wednesday (Apr 15) announced that nine retailers, including two new to Singapore, will occupy the expanded space at Basement 1. The introduction of the two retailers - US apparel brand American Eagle Outfitters and Weekends, a multi-brand lifestyle retailer - and the expansion of Basement 1 by 15,000 square feet are part of the mall's efforts to keep it relevant to shoppers, its...
Shopping mall rents in Singapore fell during the first quarter and will likely decline further over the next 12 months, hurt by falling visitor arrivals and weak retail sales, property services firm Cushman & Wakefield said on Wednesday (Apr 8). Cushman said the biggest drop was seen in city fringe areas such as the City Hall and Marina Centre area, where rents fell 1.3 per cent quarter-on-quarter to...
Oversea-Chinese Banking Corporation (OCBC) is poised to divest a portfolio of more than 30 shophouses and strata shop units across Singapore which market watchers estimate could be worth around S$150-200 million. The shophouses are in locations such as Havelock, Geylang, Upper Thomson and Upper Serangoon roads, while the strata shop units are in places such as Jalan Besar Plaza, Hoa Nam Building along...
The Centrepoint along Orchard Road will soon go through another facelift to make itself more attractive to shoppers and tourists. But in an increasingly competitive landscape, malls along Orchard Road must also offer other leisure activities and facilities to complement the retail experience, according to property experts. Orchard Road receives more than seven million visitors each year, but it is...
Following news that long-time tenants are moving out, Frasers Centrepoint Malls has announced a S$50 million makeover for the Centrepoint mall. A news release from Frasers Centrepoint on Wednesday (Mar 18) said the 16-month makeover is scheduled to start in May, and will see “major renovation works” on the ground and basement levels. The Orchard Road entrance will be revamped to have wider street...