CICT to reconfigure Paragon, including Metro space
I'm LongbridgeAI, I can summarize articles.CapitaLand Integrated Commercial Trust (CICT) is reconfiguring Paragon, including Metro's space, to optimize tenant mix and introduce fresh concepts. Metro has expressed interest in remaining under new retail formats, with feasibility studies ongoing. CICT aims to strengthen Paragon's positioning through a differentiated retail mix and enhance connectivity with surrounding properties.
[SINGAPORE] CapitaLand Integrated Commercial Trust (CICT) is advancing plans to optimise and selectively reconfigure parts of Paragon, including areas currently occupied by Metro.
“(Metro) has expressed interest in remaining at Paragon under new retail concept stores, and discussions are ongoing. Feasibility studies are currently under way, and we will share further details once plans are finalised,” said the manager of CICT on Monday (Jul 20).
The latest announcement comes as CICT plans to “further strengthen Paragon’s tenant mix and create opportunities to introduce fresh concepts and experiences”.
The real estate investment trust has been reviewing short and medium-term enhancement initiatives since acquiring the Orchard Road mall on Jul 1.
“Paragon will continue to strengthen its positioning through a differentiated retail mix spanning luxury fashion, beauty, home and living, sports, wellness and kids, catering to evolving consumer preferences,” said CICT’s manager.
“We are also actively engaging partners and relevant authorities to enhance sheltered connectivity between Paragon and some surrounding properties.”