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Magazines Archives - 2009 May

Two malls set to open in Singapore
Story 10 - Property Update

Two malls would be opening in Singapore over the next two months.

Orchard Central, the newest retail development of property developer Far East Organization, is set to open its doors to the public this June after securing the necessary temporary occupation permit, while Yew Tee Point, a development under Frasers Centrepoint, is tentatively eyeing a mid-May opening.

Orchard Central stated that it started handing over units to tenants in March this year to allow retailers to begin retrofitting work in preparation for the soft opening next month.

As of April 8 this year, the mall had a 65% tenant take-up, covering 213,000sqf of lettable space from Basement 1 to Level 8. It plans to bring up the tenancy take-up to 75% over the next few months.

“We are very excited to see Orchard Central nearing its opening as the first new Orchard Road mall in over 10 years ...We are in keen negotiations with several retailers that complement Orchard Central’s positioning and are optimistic that we will see a 10% increase in occupancy to bring our tenancy take-up to 75% over the next few months,” said Susan Leng, director for Retail Management of Far East Organization’s Retail Business Group.

To drumbeat the opening of the mall, Far East Organization has set aside a budget of S$4 million (US$2.64 million) to S$5 million between June and December 2009. The amount is earmarked for promotional, tactical and on-site media activities as well as media placements and sponsorships of educational programmes.

The mall is positioning itself as “the next must-visit” shopping destination along Orchard Road.

“By working closely with our tenants, our extensive advertising and promotional campaign over the second half of the year aims to attract shoppers to Orchard Central to experience a whole new level of retail and dining on Orchard Road,” Leng added.

Touted as the centre of new experiences, Orchard Central has commissioned a range of artwork pieces worth over S$9 million to be displayed in different parts of the mall.

Also integral to the retail centre is The Med, a market that sells all things Mediterranean, a roving concierge service, an air-conditioned promenadecum- shopping called Discovery Walk, and a five-storey Via Ferrata wall.

Meanwhile, the 113,508sqf Yew Tee Point is being positioned as a new suburban food and lifestyle hub for residents in the north-western part of Singapore.

F&B would make up 40% of the retail mix, with the mall signing up F&B players Shin Tokyo (a Japanese halal restaurant), Jalan Kayu The Prata Café, ToastBox, Xin Wang Hong Kong Café and various fast-food restaurants.

Anchored by the NTUC FairPrice supermarket and Koufu food court, the two-storey mall will also have a variety of beauty, health-care, fashion, lifestyle and educational services.


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2009 May Stories:

Strategic planning in this crisis - Part 1: How has the paradigm shifted for Asian retailers?

HKTDC Food Expo 2009 to host first Hong Kong International Tea Fair

Cards & Payments Asia 2009: Shifting consumer attitudes impacting market direction

How Thailand instils

High stakes ensure integrity in Singapore

Cleanliness, safety the be-all & end-all in the Philippines

More needs to be done in Malaysia

India works to flush out the enemy within

One bright spot in downturn: Cosmetics non-negotiable

Two malls set to open in Singapore

GLP continues investment in China

Melamine scare, global recession put a dent on world dairy market

Laura Ashley Japan installs software to improve store efficiency, customer service

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