94% of ION Orchard’s leasable space committed

Almost all of ION Orchard’s space has been leased out and it is eager to pull in the crowds with its fashion and lifestyle boutiques. The upcoming shopping mall above the Orchard MRT station is set to open on July 21.

Some 94 per cent of the leasable space has been committed – 70 per cent of which is taken up by flagship stores and new or new-to-market concepts stores.

Food will also be big on the plate. More than one fifth of the 640,000 square feet available for leasing in the mall is dedicated to dining.

Itacho Sushi is just one of 60 food and dining outlets there that are either entirely new to the market or have new concepts.

Soon Su Lin, CEO, ION Orchard, said: “For new concepts, we have worked with the established local operators – both in fashion and food – to come up with new concepts that will be interesting for shoppers. We are happy to say many of them have, and we have them at our mall.”

ION Orchard boasts some 125 food and beverage outlets. Businesses said the prime location is a key factor in their decision to sign up amid the weak economic environment.

Maranda Barnes, director, TWG Tea Company, said: “We position ourselves as the finest tea company in the world. We wanted to be based in the finest mall, the most luxurious mall in Singapore and it’s a mall that has a little bit of everything.”

Dunkin Donuts, which shut down a few years back, is returning with an outlet in ION Orchard.

Benedict Tee, operations director, Golden Donuts, said: “We feel that ION has a strategic platform here in Orchard Road. We think that with its current branding and our branding, we will make a good partnership together.

“We are coming in with a different lifestyle, a cafe concept lifestyle. Besides donuts we are going to do coffee specialities. Ice blended coffees, hot beverages like lattes, and on top of that, sandwiches which will cater to the lunch crowd and younger generation.”

The mall said it is seeing multiple enquiries and very strong demand for the remaining six per cent of its net lettable space. However, the mall added that it will continue to be very selective about its tenants.

Source : Channel NewsAsia – 24 Jun 2009

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