Tuesday, July 21, 2009

Eye On Ion

Source : The Straits Times, July 21, 2009

Orchard's newest mall is not only striking, but more than 70 per cent of its stores are also new

At 640,000 sq ft, Ion Orchard is far smaller than VivoCity and Ngee Ann City.

Ion Orchard has many entry points. -- ST PHOTOS: SAMUEL HE

But the hype and expectations surrounding Singapore's newest mall are much larger than its size might suggest, not least because of its literally flashy appearance and prime location at the busiest junction of Orchard Road.

Some analysts say it could change the shopping experience in Orchard Road when it opens its doors today.

More than 70 per cent of its 335 stores will be new to Singapore. Among them are jeweller-to-the-stars Harry Winston, Italian label DSquared2, Spanish high street label Bershka, Chinese sportswear retailer Li-Ning and Australian shoe company Rubi Shoes.

Ion Orchard's soft opening comes 2 1/2 years after its ground breaking in 2006. The mall is part of a $2-billion retail and residential development called Orchard Turn, which is a joint venture between CapitaLand, Singapore's biggest developer, and Hong Kong's Sun Hung Kai Properties, one of the largest developers in Asia.

Ion Orchard has many entry points and all the shops, including American footwear label Steve Madden (left) can also be accessed easily. -- ST PHOTO: SAMUEL HE

About 70 per cent of the stores open today and 90 per cent will be opened by the mall's official opening in October. The remaining 10 per cent will open by next year.

The eight-storey mall is within a 218m-tall, 56-storey luxury building. The other 48 floors will contain 175 high-end apartments called The Orchard Residences, which will be completed by next year. About 84 per cent has been sold. Last month, an apartment sold for $3,299 psf.

Speaking at a press briefing yesterday, Orchard Turn chief executive Soon Su Lin says the opening of the mall is a 'significant milestone that heralds new beginnings for Orchard Road'.

She adds that the vision for Ion Orchard is to create an icon befitting its unmatched location at the gateway to one of Asia's most vibrant shopping strips.

While the public loos (left) are spacious and grand, the $10,000 VIP restroom is even more upscale. The toilet comes with an automates seat cover that lifts up when the the user enters and closes after use.

The aim could be achieved even though VivoCity at 1.04 million sq ft and Ngee Ann City at 1.1 million sq ft are larger.

Looks-wise, Ion is striking. It was designed by Hong Kong-based architect David Buffonge, a director of Benoy architecture firm.

He says he was inspired by the history of the site - it was an orchard about 160 years ago.

'The seed and skin of a fruit form the facade of the building, while the residential tower is the stem,' he says. The facade can be a canvas for multimedia art as well as a screen for live telecasts of events held within the complex.

Inside, the ceiling on the fourth floor has a distinctive grid-like pattern which Mr Buffonge likens to the veins on a palm leaf.

While the public loos are spacious and grand, the $10,000 VIP restroom (left) is even more upscale. The toilet comes with an automates seat cover that lifts up when the the user enters and closes after use.

Four levels of shops are above ground and another four are under. There are no nooks and crannies which obscure shopfronts, and all shops can be seen and accessed easily.

'I made the design compact, so no one will get lost,' says Mr Buffonge.

Levels 1 to 4 are dedicated to luxury and premium international brands while levels B1 to B4 offer popular high-street labels and lifestyle shops.

Foodies will love that more than 21 per cent of the mall is dedicated to food and dining. Once in full swing, Ion will have 28 restaurants and cafes, a food hall with 80 stalls and about 60 dining options that are new here.

Among them is Itacho Sushi, a well-known sushi chain from Hong Kong making its debut here.

Its administration manager, Ms Zoe Tan, says: 'Ion Orchard is the newest mall, so opening our first restaurant here will have greater impact.'

She adds that the company plans to open four more outlets next year, but has not decided where.

Ion's design also has many access points, making it convenient to get in and out of it, whether you are driving or commuting on public transport.

There is a spacious drop-off area on Level 2, which also leads to the carparks. On street level, shoppers enter the mall's first level. The mall is connected to Orchard MRT station on basement two. On this level, there is also a underground walkway called Ion Paterson Link that takes pedestrians from the Orchard MRT Station to Paterson Road across the street, where Wheelock Place is located. The underpass is open 24 hours.

The mall has 516 parking lots on Levels 5 to 8 as well as valet parking service.

Secretary Maggie Leow, 37, is excited about the new mall. 'I heard so much about it, I definitely want to check it out after work,' she says.

Next year, visitors will have more to do at Ion besides shopping and dining. A double-storey observation deck located on the 55th and 56th floors will open.

Shoppers can access it via a separate lift lobby from the residences.

Called Ion Sky, it will offer a panoramic view of the city.


POSHEST LOOS IN ORCHARD

You know you are someone when you use one of two $10,000 toilet bowls in Ion Orchard.

There are two special restrooms tucked away discreetly on Level 2. They each have their own small sitting area, decorated with a chandelier, black-and-gold wallpaper, black marble flooring and a full-height mirror.

There is only one cubicle in each restroom, decked out in gold and brown glass mosaic tiles, with warm lighting. The toilet is a fancy Toto Neorest unit, which costs more than $10,000. Its seat cover automatically lifts up when a user approaches and closes after use.

Only VIP guests, defined by an Ion spokesman as 'dignitaries and celebrities', may use these restrooms which are locked. Luxury brand stores will inform the concierge about the VIPs, who are then escorted to the loos.

The public restrooms in Ion are not shabby, either. In fact, they may well be the poshest ones in Orchard Road. Each restroom is spacious and comes adorned with vases of fresh flowers. One women's restroom that Life! saw had 15 cubicles.

Women will also love the vanity table near the hand basins and huge swivel mirrors on the table for make-up.

The men's toilets are less spacious and do not have vanity tables, but they still boast the same posh marble flooring.

The public restrooms are located on all levels of the mall, except B2, L1 and L2.

Developers Begin Raising Prices Of New Projects

Source : The Straits Times, July 21 2009

Brisk weekend sales indicate continuation of strong momentum

SALES of new condominium projects continued at a robust pace last weekend, despite some developers starting to test the market with slightly higher prices.

Buyers picked up 120 units at Waterfront Key in Bedok Reservoir at an average price of $735 per sq ft (psf), even though that price is higher than that at the neighbouring Waterfront Waves condo, where units are going at $700 psf on average.

The developer sold 120 units of the Waterfront at an average price of $735 psf. -- PHOTO: FAR EAST ORGANIZATION.

Both are 99-year leasehold projects and are being jointly developed by Far East Organization and Frasers Centrepoint.

In the Upper Changi area, Hong Leong Group sold 50 more units of The Gale on Flora Road at prices ranging from $650 to $725 psf - up from $650 to $700 psf the previous weekend. This makes 265 units sold to date at the 329-unit freehold development, or about 80 per cent.

In the higher-end segment of the market, City Developments (CDL) has also raised prices for its newly launched Volari@Balmoral by 2 per cent, after it saw a fairly good take-up rate over the weekend.

CDL released 65 units out of a total of 85, and sold about 55 of them. The average price of the units sold was over $2,000 psf, it said in a press release.

The developer added that almost half the buyers were foreigners. Prices start from $2.7 million for a two-bedroom unit.

The transactions over the weekend indicate that this month's home sales figures are likely to maintain the strong momentum started in February, which has seen more than 1,000 new homes sold every month.

Another interesting point: fewer buyers appear to be taking up the interest absorption scheme, which allows them to defer the bulk of their payments until their apartment is completed but often at a higher price.

Only a third of the buyers at The Gale took up the interest absorption scheme. About 20 per cent of Volari@Balmoral's buyers opted for the scheme, which means they paid 2 per cent more for their units.

At Waterfront Key, 'practically all' the buyers went with the normal progressive payment scheme, said Far East Organization's chief operating officer Chia Boon Kuah. This could be because interest absorption for this project comes at a 4 per cent premium.

When asked why the prices were higher at Waterfront Key than at Waterfront Waves, Mr Chia mentioned the project's 'thoughtful facilities', including three outdoor villas and two 'island villas', as well as the fact that all units would have views of either the park, reservoir or pool.

The developers released 176 units at Waterfront Key last Friday. A further 102 units will be released during the project's public launch this Saturday. The condo has 437 units in all.

Of the buyers last weekend, about 60 per cent were HDB upgraders, said Mr Chia. They bought mainly the smaller units: all the 57 two-bedroom units from the first to 15th storeys have been sold, at prices starting from $593,000. The four-bedders, which are 1,518 sq ft in size, are going for up to $1.42 million each.

楼价虽高难阻买家进场

Source : 《联合早报》July 21, 2009

尽管最近新上市的一些项目,推出价格已经回升至接近2007年底/2008年初的楼市巅峰水平,却仍然阻止不了买家蜂拥进场。

上个周末,一些项目继续取得不错的销售表现。虽然有些项目只卖出了零星几个单位,但是几个地点好、单位多的“重头项目”仍然传出捷报。

城市发展在上个周末的预售会上总共卖出了55个Volari单位。令人瞩目的是,这个位于百慕乐路,也就是国园酒店(Garden Hotel)现址的豪华共管公寓,每平方英尺平均售价在2000元以上,这也就是说,一个两卧房式的单位,售价在270万元以上。

至于远东机构和星狮地产联手发展的Waterfront Key,则在过去几天卖出了120个单位。尽管这个位于勿洛水池路的项目,在上星期五晚上9时才开放示范单位让买家选购单位,但当天傍晚5时起就开始形成人龙。

这个99年地契公寓共有437个单位,预售会上只拨出176个单位供选择。上个周末卖出的120个单位,每平方英尺平均成交价为735元。这已经相当接近隔邻Waterfront Waves在上个一个楼市高峰期的价位。根据媒体之前的报道,Waterfront Waves的首100个单位是在2008年初以每平方英尺平均801元成交的。

市场人士指出,发展商最近推出的新项目,价格比四五个月前明显回升,有些项目的价格甚至已回升至2007年底/2008年初的巅峰水平。

“今年2月,楼市之所以开始‘动’起来是因为发展商开始削价来吸引买家回头。例如星狮地产的水之轩(Caspian)以每平方英尺580元预售,价格较楼市高峰期的每平方英尺1090元减少一半,比起当时四周公寓的转售价格也低了20%。”

但最近新登场的项目,折扣价已渐渐减少,例如最近上市的Ascentia Sky以每平方英尺1100元至1300元预售,附近的The Metropolitan在楼市最巅峰时,例如2008年1月的平均成交价格也不过是每平方英尺1060元。不过一些市场人士指出,两者不能同等比较,因为前者的设施较多,市场的定位也较高档。

不过,例如丰隆集团最近推出的The Gale,售价也比姐妹公司——城市发展在今年2月重新推出莉雅苑(Livia)共管公寓的价格——每平方英尺620元,明显来得高。

位于白沙一带的The Gale,最近以每平方英尺650元至750元预售。这个价格也相当贴近隔邻Ferraria Park在上一个楼市巅峰的平均成交价——Ferraria Park在2008年1月的平均成交价格为717元。

由于楼价已经在过去一个多月来上涨3%至15%,不少市场人士担心,连跑了五个月的楼市是否能够继续保持旺热,发展商纷纷起价是不是会将买家吓走。不过,由于新上市的楼盘大多仍有不错的销售表现,一些人认为,楼市可能要到农历七月才会稍微放慢脚步。

市建局调查:80%居民反对 邻里餐馆酒廊有乐队表演

Source : 《联合早报》July 21, 2009

市区重建局进行的公众咨询活动结果显示,约80%的回复者不支持让在靠近私人住宅区的酒廊和餐馆内安排现场乐队表演。这也意味,市区重建局会保留这方面现有的私人店屋使用条例,不做修改。  

市区重建局去年9月展开为期四周的公众咨询活动,向业者和居民收集有关放宽店屋使用条例的意见。探讨的课题包括是否应该允许靠近私人住宅区的饮食商店提供现场音乐表演,以及在店内可进行怎样的食物烹煮。

市建局昨天发表的文告表示,有250人参与了这项咨询活动。

反对邻里餐馆和酒廊引进现场音乐表演的公众认为条例一旦放宽,日后可能会引发噪音问题,甚至是社会问题。另外,原本经营餐馆的业主也可能转而开办酒廊和卡拉OK歌厅。

有些回应者也提出,如果最终允许放宽条例,还必须考虑应该允许哪一类型的表演,以及表演者的人数。部分公众无法接受在餐厅内举行现场乐队表演,但一些人却可以接受小提琴或钢琴演奏。

市建局的立场

市建局解释,该局在考虑放宽条例的课题时,必须顾及居民和业者的不同需要。一些居民以便利为原因,喜欢邻里内商店林立;另外一些居民希望区内环境不要受到不必要的干扰;业者则想获得更多自主权,在店里举办不同种类的活动。为了平衡各别群体的利益,市建局决定保留现有的条例。

目前,只有获准以夜总会形式经营的场所如卡拉OK酒廊和舞厅才可以有现场乐队表演。

另一方面,近70%的公众表示可以接受小吃店业者在店内做简单烹煮。基于这个理由,市建局决定从即日起放宽这方面的条例。

之前,没有用餐设施的饮食店面只能售卖熟煮食物,业者不能在店内烹煮食物。在旧有条例下,业者若需要经常在店内加热食物,必须向当局提出申请。现在,他们无需进行这个步骤。不过,市建局强调,业者仍需要符合国家环境局相关的卫生条规。

与此同时,为了设立更亲商的条例框架,市建局也简化了一些商店以前必须提出的申请。比如说,在商业大厦经营店面的业者如果要把文具店改成餐馆营业,不再需要提出策划准证(planning permission)。

想了解更多有关公众咨询的相关结果,可以上网至www.ura.gov.sg。

中国新建住房价格涨6%

Source : 《联合早报》July 21, 2009

(上海综合电)今年上半年银行贷款总额急速增加到人民币(下同)7万3700亿元(1万5400亿新元),中国36个大型与中型城镇的新建住房价格在6月份较去年同期上扬了6.3%。此前,中国70个主要城镇的6月份房价也上涨,这是7个月来首次。 

  据中国国家发展改革委员会(发改委)公布的数据,6月份相关城市新建住房价格平均每平方米为6554元。新建住房价格较5月份上涨1.1%。 

  渤海证券分析师周虎说,银行新增贷款爆增是房地产价格上涨的助力之一。今年第三季度,房价还将持续上涨。

货币政策过度宽松

  另外,中国《东方早报》昨日报道,全国人大财经委副主任委员尹中卿认为,现在的货币政策是过度宽松,不是适度宽松,下半年应该完善适度宽松的货币政策,抑制通胀压力和潜在金融风险,把握信贷投放的节奏。

  报道援引尹中卿建议,下半年货币政策应严格执行年初制定的广义货币(M2)增长17%,新增贷款5万亿元以上的目标,要从28%的广义货币增长回到17%的目标,要花很大功夫。