SINGAPORE – Several malls on Orchard Road have changed hands in recent years, but the shopping belt’s transformation may unfold more slowly than the deal-making suggests.

This comes even as competitors in Seoul, Bangkok and other Asian cities have stepped up their game with new retail destinations and experiences.

Take Paragon’s $3.9 billion sale in April, for instance.

The freshly acquired freehold mall is expected to remain largely intact, with its new owner, CapitaLand Integrated Commercial Trust, focused on refreshing tenant mix rather than major redevelopment.

The same goes for at least two other malls in the heart of the 2.2km-long road – the ageing Delfi Orchard and the rear block of The Centrepoint.

In 2024, City Developments (CDL) bought Delfi Orchard for $439 million, completing control of the property after already owning most of the strata units.

The sale sparked speculation that the building could be redeveloped with the adjoining Orchard Hotel and Claymore Connect – both held by CDL Hospitality Trusts – under a government scheme to boost urban renewal.

But a CDL spokesman told The Straits Times that the three properties will remain status quo for now, as the group focuses on maximising income in the short term.

Similarly,