New Reporter
04-09-23, 14:48
HPL’s plan to redevelop Forum mall, voco Orchard Singapore and HPL House gets URA nod
Aug 28, 2023
HOTEL Properties Limited : H15 0% (HPL) has received the nod from the Urban Redevelopment Authority (URA) to turn Forum The Shopping Mall, voco Orchard Singapore and HPL House into a massive mixed-use redevelopment.
Spanning 114,153.38 square metres, the mixed-use project will have a hotel and residential units across two tower buildings, as well as retail and office space, said the company on Monday (Aug 28).
The Business Times had reported in June that URA received a development proposal involving land parcels on the prime corner of Orchard Road and Cuscaden Road.
Speculation has swirled for two decades that HPL would undertake this redevelopment project. The company said on Monday that it had applied for provisional permission to identify those of its assets, which could be enhanced and optimised for value.
In the proposed plan, there could be three tower blocks forming part of the mixed-use development, with the tallest at 64 storeys. HPL also has plans for a six-storey podium with a rooftop garden, a performance theatre and a basement car park.
“If and when it is implemented and completed, the proposed redevelopment will transform this part of Orchard Road into a vibrant, energetic, significant and prominent precinct,” said the hotel operator.
It hopes the redevelopment will be a “gateway destination on Orchard Road and provide connectivity between the site and neighbouring developments”.
The company had submitted the proposal under the URA’s Strategic Development Incentive Scheme, which encourages the redevelopment of older buildings in strategic areas into new developments that will transform the locale.
“The company and its professional advisers are working on further detailed plans and the timeline for the proposed redevelopment has not been determined at this stage,” it added.
News of the approval sent HPL shares soaring. The counter ended 10.8 per cent, or S$0.38, higher at S$3.90 on Monday.
https://www.businesstimes.com.sg/property/hpls-plan-redevelop-forum-mall-voco-orchard-singapore-and-hpl-house-gets-ura-nod
Aug 28, 2023
HOTEL Properties Limited : H15 0% (HPL) has received the nod from the Urban Redevelopment Authority (URA) to turn Forum The Shopping Mall, voco Orchard Singapore and HPL House into a massive mixed-use redevelopment.
Spanning 114,153.38 square metres, the mixed-use project will have a hotel and residential units across two tower buildings, as well as retail and office space, said the company on Monday (Aug 28).
The Business Times had reported in June that URA received a development proposal involving land parcels on the prime corner of Orchard Road and Cuscaden Road.
Speculation has swirled for two decades that HPL would undertake this redevelopment project. The company said on Monday that it had applied for provisional permission to identify those of its assets, which could be enhanced and optimised for value.
In the proposed plan, there could be three tower blocks forming part of the mixed-use development, with the tallest at 64 storeys. HPL also has plans for a six-storey podium with a rooftop garden, a performance theatre and a basement car park.
“If and when it is implemented and completed, the proposed redevelopment will transform this part of Orchard Road into a vibrant, energetic, significant and prominent precinct,” said the hotel operator.
It hopes the redevelopment will be a “gateway destination on Orchard Road and provide connectivity between the site and neighbouring developments”.
The company had submitted the proposal under the URA’s Strategic Development Incentive Scheme, which encourages the redevelopment of older buildings in strategic areas into new developments that will transform the locale.
“The company and its professional advisers are working on further detailed plans and the timeline for the proposed redevelopment has not been determined at this stage,” it added.
News of the approval sent HPL shares soaring. The counter ended 10.8 per cent, or S$0.38, higher at S$3.90 on Monday.
https://www.businesstimes.com.sg/property/hpls-plan-redevelop-forum-mall-voco-orchard-singapore-and-hpl-house-gets-ura-nod