Coming back from the dead: Do People’s Park Complex, Far East Shopping Centre and other strata-titled malls have a chance?
In the face of failed en bloc attempts, what can bring the glory days back to these ageing properties?
Add BT as a preferred source
THEY are among some of the most iconic malls along Orchard Road and were the first shopping centres established in their neighbourhoods.
Some, such as People’s Park Complex, were lauded as Modernist masterpieces while others delighted Singaporeans with their high-tech features, such as Far East Shopping Centre’s escalators at a time when these were a novelty.
They are Singapore’s strata malls, in which the units belong to different landlords, who may then lease them out. This fragmented type of ownership stands in contrast to malls that are owned and managed by single entities, such as a real estate investment trust (Reit) or a property company.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
MAS convenes bank CEOs over AI cyberthreats; boards told to own risks, not leave to IT teams
Is it time to scrap COE categories for cars?
