Can you provide information about the timeline for Orchard Road rejuvenation?

# Orchard Road Rejuvenation

Key Rejuvenation Plans

The Urban Redevelopment Authority (URA) and National Parks Board (NParks) are planning to pedestrianise a 500-metre stretch of Orchard Road, which will significantly enhance the walkability and appeal of the area.

Current Development Activity

The rejuvenation is gathering momentum with multiple properties being repositioned:

- Cuppage Terrace has been put up for sale at a valuation of $250 million, reflecting strong investor interest in the area as the makeover progresses.

- Concorde Hotel and United House underwent collective sale to revive the corner of Orchard Road.

- Somerset area is another stretch undergoing rejuvenation, with commercial units being repositioned as part of the broader renewal strategy.

Market Impact

Older developments in the Orchard Road area are capitalising on the future rejuvenation plans, with property owners leveraging the anticipated improvements to enhance their assets and close sales. This collective momentum demonstrates strong confidence in the area's transformation into a more attractive destination with improved amenities, enhanced public spaces, and diverse lifestyle offerings.