With new shopping malls coming up along Orchard and new retailers entering the scene, change is afoot at Singapore's prime shopping belt. Just recently, book retailer Kinokuniya moved to small premises within Ngee Ann City, allowing the landlord to carve out the space once occupied by the bookshop into smaller units - for various tenants. At Wisma Atria next door, Japanese retailer Isetan is also...
Wisma Atria
The Wisma Atria shopping mall at Orchard Road is poised to undergo redevelopment. The manager of Starhill Global REIT said it plans to redevelop the shopping mall to boost its positioning on Singapore's shopping belt. Starhill said phase one of the redevelopment is expected to cost about S$31 million. This will in turn generate an additional net property income of around S$2.5 million a year. The REIT...
YTL CORP, Malaysia's biggest builder, will spend $285 million for control of Macquarie Prime Real Estate Investment Trust (Reit), owner of stakes in two Singapore malls - Wisma Atria and Ngee Ann City. YTL, which is based in Kuala Lumpur, will buy 26 per cent of Macquarie Prime at 82 cents each from Macquarie Bank, it said yesterday in a statement. The company will also acquire 50 per cent of Prime Reit...