Redevelopment Plans for Bugis Village and Bugis Street
At the heart of our Singapore city lies the popular Bugis Village and Bugis Street that is packed with locals and tourists everyday. These hot spots offer a wide variety of food and a retail haven that sells affordable fashion that is definitely within your budget.
Source: CapitaLand
In recent months, CapitaLand has won the tender to manage Bugis Village and Bugis Street for up to a decade. Existing tenants at both sides can continue business operations under CapitaLand for a year at the prevailing rent until March 31st 2021.
Currently, CapitaLand Commercial Trust manages Bugis Village while Bugis Street Development manages Bugis Street and their leases will expire on March 31st 2020.
CapitaLand revealed that it is exploring several retail concepts that will complement existing offerings in the area. These concepts include a day-to-night market, a retail incubator and shared economy spaces such as co-living and co-working areas. However these plans are still subject to approval from the authorities.
Source: THE BUSINESS TIMES
Other tentative advancement plans to the area will be constructing a new link bridge connecting Bugis Street to Bugis+ which will offer more connectivity and shelter especially during rainy weather. These eases the shopping experience of the shoppers and connects Bugis Junction, Bugis+ and Bugis Street together to form an interconnected shopping district.
CapitaLand’s new ideas and concepts are in alignment with the government’s ongoing efforts to rejuvenate various areas in Singapore. These improvements will provide a better shopping experience and create more tourist hot spots in Singapore.
