As part of the prospectus for the initial public offering (IPO), Urbis was engaged to prepare an independent market review of the two assets to be included in the trust, namely Paragon Mall and Clementi Mall.

As part of the review of Paragon Mall, Cistri undertook a detailed assessment of the asset, examining its historic and existing performance in the context of Orchard Road and the broader Singapore retail environment. This analysis looked at the characteristics of Paragon’s catchment, given the environment that Paragon operates within. This research was supported by a consumer exit survey and detailed economic research to understand shopper behaviour and preferences.

Cistri has considerable experience analysing the characteristics and performance of Orchard Road’s malls.