9 Penang Road Will Replace Park Mall At Orchard By End-2019
Dhoby Ghaut’s Park Mall replacement is set to open by the end of 2019.
SingHaiyi Group – a Singapore-listed developer – revealed plans for a swanky Grade A commercial building at 9 Penang Road back in January 2017.
The 10-storey commercial building is estimated to be worth $800 million.
If you’re curious about this upcoming development, here’s what you can look forward to.
Massive office & retail space
Located near Orchard Road, the new establishment will comprise of two wings with eight levels of office space. At 352,000 square feet, it’s about the size of six football fields!
A 15,000 square feet area – about the size of an Olympic pool – will be dedicated to retail space.
In line with the Walking and Cycling Plan requirement of the LTA and URA, there will be facilities dedicated for pedestrians and cyclists.
These include walking paths, cycling paths, bicycle parking facilities, lockers and shower rooms.
Breath of fresh air
The development is a joint venture partnership between Singhaiyi Group, Haiyi Holdings Pte and Suntec Real Estate Investment Trust.
Mr Desmond Sim – CBRE research head for Singapore and South-East Asia – said that the demand for office space at Orchard Road is stable with low vacancy rates.
In an interview with The Straits Times he said,
The new building will be a breath of fresh air for Orchard Road as there has been no new supply in this sub-market for a period of time.
Waiting for more updates
They say too much of a good thing is bad for your health but we can’t say the same thing about malls. We’re currently counting the months until we see 9 Penang Road in all its shining glory.
We haven’t confirmed any details of retail or F&B outlets that will open in the building, but we’re hoping to find local favourites or popular international brands.
Featured image from SUNTEC.