In Singapore, malls for shopping only are going out of style
Marina Square’s future revamp typifies the rise of mixed-use developments incorporating retail, office, residential and other components
Last Monday, property developer Singapore Land Group (SingLand) said in a statement that Marina Square, which was completed in 1986, would close on March 31 for a redevelopment that would include features such as luxury residences, serviced apartments and offices with a gross floor area of more than 360,000 sq m.
The revamp, slated for completion in 2031, will have a 304-key hotel that will place guests close to the Marina Bay area, and Marina Square will be refreshed into a four-storey shopping centre offering a wider variety of food and drink options and pet-friendly environments, according to SingLand.
Three new towers will be integrated into the site, including a 49-storey residential tower hosting 204 luxury homes, while offices will occupy eight floors of a new mixed-use tower, providing around 13,000 sq m of lettable space.
Local media reported that the news of Marina Square’s closure came with disappointment from shoppers and tenants alike. Parents lamented the loss of the shopping centre known for its indoor playgrounds and children’s retail outlets, while tenants said they were shocked by the short notice.
Retail experts point out that consumers today are increasingly seeking experiences, community and connection, and this shift is fuelling the growth of mixed-use developments around the world.
