Retail resets: Mall owners reposition shopping centres as Singapore’s consumer landscape evolves
Major landlords are investing heavily to revamp malls, reshape tenant mix to map new consumer habits for better returns
Add BT as a preferred source
[SINGAPORE] Major mall owners are embarking on a new wave of asset enhancement initiatives (AEIs), pouring hundreds of millions of dollars into repositioning their malls to map shifting consumer tastes and improve returns.
The revamps bring a fresh round of tenant churn, with the departure of long-standing names such as cinemas and department stores grabbing headlines. While stirring nostalgia, the changes reflect a steady shift in how malls are being remade, with experience and lifestyle-led concepts and mixed-use spaces.
Among the biggest projects is CapitaLand Integrated Commercial Trust’s (CICT) S$160 million revamp of Plaza Singapura and The Atrium@Orchard, which will be carried out in phases from the third quarter of 2026 to end-2028.
TRENDING NOW
Asia-Pacific aviation: is up really the only way?
Russia’s ‘pivot to Asia’ takes a turn as it prioritises ties with isolated regimes over bigger economies
Why disciplined stewardship matters when managing wealth in uncertain markets
More than 15,000 sign up for national accounting body’s AI programme in two months
