Ion Orchard 80% full

WITH four months to its opening, Ion Orchard, one of three new malls on Orchard Road, is already more than 80 per cent full.

More than 60 per cent of the mall will be taken up by flagship stores, new-to-market brands and new concept stores.

Brands like Cartier, Dior, Dolce & Gabbana, Giorgio Armani, Louis Vuitton, Prada, Uniqlo, Topshop and Topman will showcase their collections in double-storey flagship stores.

The mall, on Orchard Turn, is also bringing in brands like Bimba & Lola, Boss Selection, Chaumet, Christian Audigier, Dsquared2, Diane von Furstenberg, Just Cavalli, Marc Jacobs, Patek Philippe, and Vivienne Tam, which are new to Singapore or having its own stand-alone boutiques for the first time.

New dining options, like Watami, AOBA Ramen, Sho Teppan, will also make their debut.

By Lim Wei Chean, Correspondent
		Up to 60 per cent of the mall will be taken up by flagship stores, new-to-market brands and new concept stores. -- ST PHOTO: NG SOR LUAN

Orchard Turn Developments chief executive officer Soon Su Lin said on Monday: 'We are very pleased with our achieved tenant mix and are fully encouraged by the confidence and strong commitment displayed by many retailers in Ion Orchard.'

Opening against a backdrop of economic downturn, the mall is offering tenants financial incentives of up to 30 per cent off their base rental, as well as special recruitment drives and training programmes.

This is the biggest discount given by a landlord so far, exceeding even the 15 per cent monthly rental rebate giving by Government-linked landlords like Singapore Land Authority and Sentosa Development Corporation.

Rents for the main Orchard Road stretch range from $40 to $50 per sq ft. The rents in the upper-end stretch of the shopping belt range from $50 to $80 psf.