Marina Square to close for redevelopment in 2027; Shein tanks after IPO: Markets this week
ST’s business correspondents unpack the latest developments in Singapore and global markets during the week.
Singapore's Marina Square mall will close on March 31, 2027, for a major redevelopment that will introduce luxury residences, serviced apartments, offices, and a 304-key hotel. The $5.5 billion project is expected to significantly boost the Marina Bay area. In Yishun, Singapore's first cinema multiplex, Yishun 10, will also be redeveloped into a mixed-use development with 110 residential units, retail, and street-level space, with completion targeted for 2031.
Frasers Property acquired the cinema for $48 million in June 2025. The Singapore Exchange introduced a new exchange-traded fund (ETF) focused on mid-cap companies, aiming to diversify beyond the Straits Times Index (STI). Singapore's GDP growth forecast for 2026 rose to 5%, driven in part by the global AI boom and a de-escalation of the Middle East conflict.
Shein, a Singapore-based fast-fashion company, raised $1.7 billion in its Hong Kong IPO, valuing the company at around $26.3 billion, though its stock fell to around $38 on its first trading day.
Written by urgent.news from Straits Times Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
