Plaza Singapura Plans S$160 Million Revamp With Floating Gardens and Indoor Park Spaces

A New Look for a Busy Dhoby Ghaut Destination

Plaza Singapura and The Atrium@Orchard are set for a S$160 million transformation that will turn existing sky bridges into floating gardens, bring park elements indoors and improve the connection to Dhoby Ghaut MRT Station. CapitaLand Integrated Commercial Trust (CICT) plans to begin the work in the third quarter of 2026 and finish in the fourth quarter of 2028, with both properties remaining open throughout.

CICT announced the project in its first quarter business update on April 24. As of April 30, 2026, the plans set out one of Singapore's most substantial recent retail renovations, combining infrastructure upgrades with new dining, entertainment and shopping spaces.

The investment comes during a busy week for the trust, which also announced the S$3.9 billion acquisition of Paragon shopping mall and the S$2.48 billion divestment of Asia Square Tower 2. Those transactions, together with the Plaza Singapura project, signal a stronger focus on retail properties along Orchard Road.

CICT already has a substantial presence in Singapore's shopping landscape through properties including ION Orchard, Raffles City Singapore and Funan. Its latest renovation will refresh a destination that serves shoppers, families and commuters at Dhoby Ghaut, where the North South, North East and Circle MRT lines meet.

The project also connects with the Urban Redevelopment Authority's plans to pedestrianise the stretch of Orchard Road in front of the mall and expand nearby Istana Park. CICT's aim is to carry the experience of those outdoor green spaces into the shopping centre, while modernising a property that must continue operating during construction.

Sky Bridges Become Places to Stay

The existing sky bridges linking different levels of Plaza Singapura and The Atrium@Orchard will become some of the renovation's most visible features. CICT plans to remake these elevated walkways as landscaped floating gardens with greenery and new dining concepts.

Visitors would use the bridges for more than moving between parts of the complex. The redesigned spaces are intended to give people places to linger, eat and take in panoramic views of the surrounding area.

Orchard Road's entrance to the mall will also receive a major refresh. Cafes serving diners throughout the day will sit amid greenery, creating a more welcoming transition between the busy street and the shops inside.

Handy Road's sheltered drop off point is due for a contemporary facade. The change is intended to complement the area's evolving architecture and strengthen the relationship between the mall entrances and the surrounding landscape.

Inside the complex, the plans call for environments that engage several senses, retail concepts built around experiences and dining spaces with distinct themes. Existing areas will also be redesigned for immersive entertainment, extending the mall's appeal beyond conventional shopping.

A Better Route Between the MRT and the Mall

The basement connection to Dhoby Ghaut MRT Station is another central part of the upgrade. Planned changes include new kiosk designs, improved movement through the space, and refreshed floor and ceiling finishes.

Dhoby Ghaut's role as an interchange makes this passage important to daily travel as well as shopping. Thousands of office workers and students use the connection, so the renovation aims to improve a route that people may pass through even when they are not visiting the mall's stores.

Better circulation means making it easier for people to move through an area. At the basement connection, the layout of kiosks and the surrounding walking space will form part of that improvement, alongside the physical finishes.

Plaza Singapura's decision to remain open also preserves access to a shopping and dining destination beside three MRT lines. The construction programme must accommodate that daily activity while different parts of the property are upgraded.

Bringing Istana Park's Greenery Indoors

The Urban Redevelopment Authority's master plan for Orchard Road includes pedestrianising sections of the shopping strip and expanding Istana Park. The park sits beside the Istana, Singapore's official residence and office of the President.

CICT's design connects the mall renovation to those public space plans. By extending greenery into entrances, bridges and indoor areas, Plaza Singapura aims to become an indoor continuation of the expanded park rather than a shopping destination separated from it.

Singapore's frequent rain showers and tropical heat make that relationship useful for visitors. The mall could offer shelter throughout the year while retaining a visual and atmospheric connection to the outdoor green space.

The redesigned areas will need to serve different groups, from tourists visiting Orchard Road to local families looking for somewhere comfortable to spend time. Socially inclusive design features and abundant greenery form part of that ambition.

Urban planners use the term third spaces for places where people gather outside home and work. The renovation seeks to create more of those settings within a commercial property, allowing visitors to meet, rest or spend time together alongside the usual retail activities.

The approach also reflects a wider trend towards biophilic design, which brings elements of nature into buildings through vegetation, natural lighting and related features. Here, those elements are intended to improve shopper wellbeing and give people a reason to visit a physical mall rather than rely only on online shopping.

The Financial Case for S$160 Million

CICT is targeting a return on investment of about 6 to 7 percent from the renovation. In this project, that measure represents the expected increase in rental income relative to the money spent on the improvements.

A real estate investment trust manages income producing properties for its investors. For CICT, the financial aim is to earn more from the upgraded space while keeping Plaza Singapura and The Atrium@Orchard competitive as shopping habits and visitor expectations change.

The trust's results for the first quarter ended March 31 provide the backdrop to that decision. Net property income rose 7.9 percent from a year earlier to S$314.4 million, while gross revenue increased 8 percent to S$426.7 million.

CICT's retail portfolio had committed occupancy of 97.8 percent as at March 31, indicating strong demand for its retail space. The portfolio also recorded positive rent reversion of 4.4 percent during the quarter.

Rent reversion compares rents under new or renewed leases with the previous agreements. A positive figure means the newer agreements carry higher rents. CICT's first quarter performance was supported by increased shopper traffic, seasonal promotions and rising tourist arrivals.

Plaza Singapura and The Atrium@Orchard signed 121,300 square feet of new and renewed leases during the quarter. Keeping the properties open while work proceeds helps limit disruption to those leasing commitments and protects the flow of rental income during the renovation.

The 6 to 7 percent target is part of the trust's investment plan. The intended gain depends on the upgraded property attracting tenants and generating higher rental income after completion, while continuing to hold its place in Singapore's competitive retail market.

A Wider Shift in CICT's Property Portfolio

Paragon's S$3.9 billion acquisition adds another premium Orchard Road asset to CICT's portfolio. Alongside the Plaza Singapura investment, it strengthens the trust's position on Singapore's best known shopping street.

The S$2.48 billion divestment of Asia Square Tower 2 forms the other major transaction announced during the same week. Taken together, the acquisition, sale and planned renovation show the scale of the trust's current property decisions.

CICT is also carrying out asset enhancement works at Lot One Shoppers Mall, Raffles City Tower and Tampines Mall. Asset enhancement means upgrading an existing property to improve its usefulness, appeal and earning capacity.

Those projects span suburban and central locations. The Plaza Singapura plans therefore sit within a broader programme of refreshing ageing infrastructure and maintaining the competitiveness of properties across the trust's portfolio.

Orchard Road remains a particular focus of the latest announcements. The new Paragon holding and the proposed improvements at Plaza Singapura give CICT different ways to strengthen its retail presence, through both acquiring a property and investing in buildings it already manages.

How Construction Will Fit Around Daily Visits

Plaza Singapura and The Atrium@Orchard will remain operational during the phased construction period, which runs across three calendar years. The schedule starts in the third quarter of 2026 and ends in the fourth quarter of 2028.

Work will proceed in stages so that essential shopping and dining options remain accessible. Visitors can expect some temporary closures of particular zones and periodic changes in tenant locations as construction moves through the complex.

The basement works connecting the mall to Dhoby Ghaut MRT Station are likely to take place during periods of lighter traffic to reduce disruption during busy commuting hours. That remains an expectation rather than a detailed construction timetable.

The main dates and milestones are:

• March 31, 2026: The end of CICT's first quarter reporting period and the date of its 97.8 percent retail committed occupancy figure.
• April 24, 2026: CICT announced the Plaza Singapura and The Atrium@Orchard renovation in its first quarter business update.
• Third quarter of 2026: Phased renovation work is scheduled to begin.
• Fourth quarter of 2028: The renovation is scheduled for completion.

HarbourFront Centre provides a contrasting example of how a major property transformation can be organised. It is due to close entirely in the second half of 2026 for a five year redevelopment into a mixed use building with 33 storeys.

Plaza Singapura's approach preserves operations at a transit hub and community destination. HarbourFront Centre's more extensive demolition and rebuilding plan reflects a different setting near the cruise terminal and VivoCity.

Entertainment and Hospitality Reshape Orchard Road

Live Nation is preparing to open a music venue on Grange Road in 2026 with capacity for 3,000 people. Near Somerset MRT Station, the venue will feature advanced technology and multiple stages, with plans to attract international touring acts and support local artists.

Cafe and bar spaces at the venue will also serve as event areas. The development adds another reason to visit the Orchard Road district beyond shopping and contributes to the area's growing entertainment role.

The former Singapore Chinese Girls' School site at 37 Emerald Hill is also slated for transformation. Plans call for a mixed use development featuring boutique hotels and lifestyle concepts.

Those projects, together with changes in the Somerset area, point towards an Orchard Road where retail sits alongside music, dining and hospitality. Plaza Singapura's own mix of greenery, themed dining and immersive entertainment fits into that wider shift.

The nearby developments also add competitive pressure. A mall seeking to draw visitors must offer reasons to stay in an area where people can choose between shopping, eating, attending a performance or spending time in new public spaces.

Other Malls Are Investing in Experiences Too

City Square Mall near Farrer Park recently completed a S$50 million renovation lasting two years. The project expanded floor space and introduced more than 30 new tenants.

The additions included hawker stalls recognised by Michelin and immersive playgrounds for children. Those choices show another way a shopping centre can combine retail with food and activities that require an in person visit.

Plaza Singapura's S$160 million budget is more than three times City Square Mall's S$50 million renovation budget. The projects have different scopes, but the figures show the scale of CICT's planned investment.

Across these Singapore neighbourhoods, the renovations reflect a shared effort to make physical retail useful for more than buying goods. Green spaces, distinctive dining and entertainment give visitors experiences that online shopping cannot provide in the same form.

For Plaza Singapura, the defining combination is its location beside Dhoby Ghaut MRT, its connection to the planned expansion of Istana Park and its continued operation during construction. CICT is seeking to improve those everyday connections while creating spaces where people choose to spend more time.

The Essentials

• CICT plans to spend S$160 million upgrading Plaza Singapura and The Atrium@Orchard.
• Work is scheduled from the third quarter of 2026 to the fourth quarter of 2028, with both properties remaining open.
• Existing sky bridges will become floating gardens with dining concepts, while indoor spaces will gain greenery and new experiences.
• The project includes refreshed entrances and improvements to the basement connection with Dhoby Ghaut MRT Station.
• The design aligns with plans to pedestrianise the Orchard Road stretch in front of the mall and expand Istana Park.
• CICT targets a return on investment of 6 to 7 percent and has also announced the S$3.9 billion Paragon acquisition and S$2.48 billion Asia Square Tower 2 divestment.
• A new Live Nation music venue and the planned redevelopment at 37 Emerald Hill form part of Orchard Road's wider shift towards entertainment, dining and hospitality.