Fillip for malls, shops in city centre as URA cuts down on strata units

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 they expect it to largely benefit the retail scene.

The rule applies to locations in the city centre such as Orchard Road, Tanglin Road, Scotts Road (Orchard Road corridor), Shenton Way, Robinson Road, as well as developments near key landmarks of national significance.