When Orchard Central opens in June, the mall will be the first to open on Orchard Road in over 10 years. At the media preview yesterday, developer Far East Organization said it is targeting for a 75-per-cent occupancy by then. It now stands at 65 per cent. Director of Retail Management Susan Leng said that although very few new tenants had signed up in the last few months, more are now keen to lease space as the 12-storey mall nears completion.“We are actually getting very encouraging results, and in the last few weeks, we have been chasing our lawyers to get the documentation ready,” said Ms Leng. She declined to reveal when she expects Orchard Central to be fully occupied, saying it’s hard to forecast during such tough economic times.
For concerned tenants who had signed leases before the recession, Ms Leng said Far East is reviewing their contracts and offering assistance to those who need it. Some of the new mall’s special features include a 24-hour rooftop garden, $9 million worth of commissioned artwork and an entire floor catering to all things Mediterranean.
- 93.8 LIVE
From TODAY, Business – Thursday, 09-April-2009
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