The revamp work involves the modernisation of the existing centre and the opening of new restaurants.
URW US operating management and development executive vice-president Geoff Mason said: “Westfield Old Orchard already provides an exceptional experience for our customers, local residents, and our office workers.
“Our bold new vision for the centre will dramatically enhance its offering and further establish it as the preeminent live, work, shop, and play destination on the North Shore.
“By creatively unlocking the potential of the centre, this development will bring new life, energy and choices to Old Orchard and provide experiences that are even more engaging and meaningful for the local community.”
Upon completion of the redevelopment, the Westfield Old Orchard will feature retail, modern residences, entertainment, chef-led dining, and gourmet markets, along with upscale health and wellness amenities.
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Furthermore, the multi-phase development will comprise a park and event space, and a social gathering place.
It will also feature a canopy of native trees and plants that create landscaping and seating and an open-air plaza for events.
The planned mixed-use development will also offer shoppers new luxury home furnishings, top fashion, and entertainment options.
URW plans to introduce sustainable building strategies incorporating biophilic design, natural materials, renewable energy, and biodiversity as part of the centre’s redevelopment.
Development is expected to commence on the new residences, eateries, wellness facilities, and outdoor amenities in 2024, with the opening planned in phases starting in 2026.