Fewer commercial strata units in city centre will benefit shoppers, tenants: consultants
They say URA's move to bar commercial properties in Central Area from subdividing ownership into individual units will improve tenant mix, mall upkeep
Add BT as a preferred source
Singapore
IMPROVED tenant mixes, curated offerings for shoppers, well-maintained malls and fewer vacant units could be in store for the Orchard Road shopping belt and retailers in the Central Business District (CBD), as a result of a new restriction on strata properties.
Real estate consultants welcomed the Urban Redevelopment Authority's (URA) latest policy move prohibiting commercial properties in key parts of the Central Area to be strata subdivided into individual units, as it is expected to largely benefit the retail scene.
TRENDING NOW
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh
Onitsuka Tiger pivots from Asics stripes to tap luxury market
Singapore to advance AI agenda as Asean chair, focus on cross-border data flows, smaller firms
