Teenage hangouts Bugis Village and Bugis Street may soon be revamped into a shopping market and co-living area, if proposed plans by developer CapitaLand are approved by local authorities.
The real estate giant said in a statement on Thursday (Jan 16) that it was exploring plans to transform the two areas after winning a three-year tender to manage both developments jointly.
Tender proposals were evaluated by the Singapore Land Authority, Singapore Tourism Board, and Urban Redevelopment Authority on their ability to improve the precinct, among other factors.
CapitaLand’s revamp includes a retail incubator featuring new and existing brands, a co-working area, and a link bridge connecting Bugis Street to Bugis+ shopping mall, offering visitors a sheltered path from the MRT.
To maintain Bugis Street’s shopping reputation, it also plans to introduce local heritage stores and food stalls selling dishes unique to Bugis, which will be housed in colourful container boxes with open display areas.
CapitaLand Singapore retail managing director Chris Chong said the revamped properties would “cater to the creative community in Bugis, and shoppers keen to experience the eclectic Bugis old-world charm adapted for the new era.”
The company added that existing tenants at Bugis Village and Bugis Street would be allowed to continue operations until March 31 next year.
CapitaLand’s lease lasts three years starting April 1, and can be renewed up to March 2030.
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