(SINGAPORE) Ion Orchard intends to launch an advertising campaign to promote the mall in the first quarter of next year - almost a whole year before the Orchard Road mall opens its doors to shoppers in end-2008.

Bold and fashionable: The ad campaign will seek to market Ion Orchard as a world-class retail destination

For starters, the mall will run a print ad campaign in selected international publications such as the Wall Street Journal Asia and the Financial Times.

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It plans to develop International Bldg site with $62m state plot it is buying.

Hong Fok Corporation yesterday gave a glimpse of its plans for a commercial development on the combined site of its International Building property at Orchard Road and an adjoining 9,023 square feet plot along Claymore Hill that it plans to buy from the state for $62.35 million.

Based on earlier reports, International Building, inclusive of a surface carpark at the rear, has a total land area of 45,467 sq ft. In its statement to the Singapore Exchange, Hong Fok said that unless prior written permission of the government is given, the land it plans to purchase from the state will be used together with its International Building site for the purpose of commercial development with a gross plot ratio not exceeding 6.16.

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Orchard Road prime rents have hit US$325 psf per year, making it the world’s 14th most expensive area for shopkeepers. By contrast, annual prime rents for sites on New York’s Fifth Avenue are US$1,500 psf, or US$922 for sites on the Avenue des Champs Elysees, in Paris.

Orchard Road is also the fourth most expensive shopping location in this region - after those in Hong Kong (Causeway Bay - US$1,213 psf/year), Tokyo (Ginza - US$683 psf/year) and Seoul (Gangnam Station - US$431 psf/year).

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New outlets offering niche, top-end products liven up the ‘quieter’ part of Singapore’s premier shopping area, reports CHEAH UI-HOON

While the talk in town a week ago was about the government’s $40 million makeover of Orchard Road, the part of Orchard Road that stretches from Wheelock Place to Tanglin Mall has been going through some positive changes of its own.

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Govt expected to put property up for sale with fresh 99-year lease.

Singapore Land Authority is putting up The Atrium @ Orchard for sale, BT understands.

Atrium @ Orchard: With 359,000 sq ft of office space and 16,000 sq ft of retail space, it has tenants like HSBC, Barclays, MTV

Market watchers say the property is expected to fetch over $1 billion. They reckon the Orchard Road property, which will be sold with a fresh 99-year lease, could fetch up to $3,000 psf of net lettable area (NLA).

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More room for arts and cultural events; mall enhancement tender due in November.

Orchard Road is set for a $40 million facelift that will include state-of-the-art lighting, additional spaces for arts and cultural events and a more engaging pedestrian mall, in a bid to attract more local and foreign visitors.

The rejuvenation plans, which was initially outlined in 2005, were rolled out yesterday by the Singapore Tourism Board (STB), ahead of a tender for the main mall enhancement construction work. The tender will be called early next month.

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Go-ahead for several projects to ease space crunch.

(SINGAPORE) OCBC Bank and its insurance subsidiary Great Eastern Holdings are poised to redevelop the Specialists’ Shopping Centre and Hotel Phoenix complex, together with shopping mall Orchard Emerald just across the road.

And when works are complete, the new project could have some 314,000 square feet of retail space, 66,000 sq ft of office space and 684 hotel rooms, judging by the two companies’ submissions to the Urban Redevelopment Authority (URA).

URA said that provisional permission for the development of the two properties was given in August this year.

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PARAGON Shopping Centre has clinched two awards in Shopping Centre Scorecard, an annual national industry rating scheme which recognises well-run malls in Singapore.

Accolades: Paragon was tops in two of the three categories - best efforts in advertising & promotions and tenant relationships - awarded by the Shopping Centre Scorecard

Paragon, which is fully owned by Singapore Press Holdings Ltd (SPH), emerged tops in two of the three categories - best efforts in advertising & promotions and tenant relationships.

The results were based on votes by retailers. The contest is organised by the Singapore Retailers Association.

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