URA's revitalisation plan for selected integrated malls: What does it mean if you're house-hunting?

The Urban Redevelopment Authority (URA) and the Real Estate Developers’ Association of Singapore (Redas) have teamed up to launch the third URA-REDAS SPARK Challenge.

The challenge seeks ideas from the public to raise the quality of the urban environment based on current issues faced by Singapore and our build environment.

This year’s theme is ‘Enlivening Public Spaces’ and calls upon members of the public to submit their ideas for innovative design interventions to promote bonding and interaction within public spaces in mixed-use developments and shopping malls.

Through the proposed design innovations to revitalise the malls, visitors and shoppers who frequent the areas will be able to enjoy a new array of fresh and exciting experiences to interact with each other as well as the public spaces.

“To support businesses and citizens in tandem with the country’s progressive reopening, we look forward to design solutions from the public that will enhance the vibrancy and inclusiveness of public spaces, and in turn, encourage the resumption of rich and meaningful interactions in our community,” said Mr Lim Eng Hwee, URA’s Chief Executive Officer.

Participating malls

There are a total of 14 malls participating in this revitalisation challenge, an increase of four malls from the ten malls in the previous edition.

Two of the four participating host developments are Business Improvement Districts (BID), a business-led and -funded body by the private sector. It aims to enhance the vibrancy of a precinct through targeted marketing, hospitality and events.

The malls are evenly located in all three regions in Singapore, which may signal the rise in popularity of more heartland malls such as those in Jurong, instead of focusing marketing and revitalisation efforts in CCR malls.

Singaporeans love their malls

Shopping malls are a permanent fixture in every Singaporeans’ life, whether they visit it to buy their daily amenities or to window shop on the weekend. There are over 171 shopping malls in Singapore as of 2022, which speaks volumes of how much Singaporeans love to shop.

Malls that see more hustle and bustle tend to positively affect the value of property in the surrounding vicinity. Having more interactive installations in otherwise under-utilised spaces encourages increased activity, and incentivises more people to visit the participating malls and developments.

This in turn signals to recognised brands and companies that they should establish a presence in those malls, leading to a positive feedback loop of attracting more visitors in the long term.

How will this affect properties around the area?

A high number of people still working from home, malls in the OCR or RCR may see more footfall as residents spend more time in the neighbourhood. If you’re a house hunter trying to decide between a handful of properties, taking into consideration which malls URA is focusing on revitalising might help you narrow down your decision.

Established malls are more likely to offer better amenities, entertainment, food and retail options, which will lead to homebuyers wanting to live within the nearby vicinity. This demand will in turn drive property prices up, especially if the mall is conveniently located near an MRT station.

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However, due to the fact that these are temporary installations, it ultimately doesn’t make much of a difference in one’s home buying journey.

Instead, it would make more sense to focus on more permanent changes, such as the upcoming developments of Jurong Lake District (JLD), Jurong Innovation District (JID) and Tuas Port. By 2035, there will be four MRT lines serving the district, so residents and visitors can enjoy enhanced accessibility to the rest of the island, including direct connections to the CBD, Changi Airport and JID.

You can check out URA’s Master Plan to stay up to date and informed about new developments in various regions in Singapore that are currently undergoing development.

This article was first published in 99.co.